About this number
Normalized PSF uses Bala's Table - the Singapore Land Authority differential premium reference for valuing leasehold against freehold. Bala values a fresh 99-year lease at 96% of freehold; the curve drops non-linearly, reaching ~75% at 50 years remaining and ~60% at 30 years.
Below 40 years remaining we stop normalizing because the curve diverges from market reality once CPF withdrawal restrictions and bank LTV cliffs dominate.
A separate 5% adjustment applies to projects whose lease commenced before 2023, reflecting the older strata-area measurement convention (which counted air-con ledges and bay windows).
Source: Singapore Land Authority differential premium reference (Bala's Table).
Transaction prices per square foot
| Project | Dist | Region | Bed | Floor | Area | Price | PSF | 99yr Norm | Date | Type |
|---|---|---|---|---|---|---|---|---|---|---|
| THE BELVEDERE | 15 | RCR | 3 | 16-20 | 1,259 | $3,250,000 | $2,581 | $2,581 | Nov 2025 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 16-20 | 1,378 | $3,620,000 | $2,627 | $2,627 | Aug 2025 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 16-20 | 1,367 | $3,660,000 | $2,677 | $2,677 | Jul 2025 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 11-15 | 1,367 | $3,550,000 | $2,597 | $2,597 | Jul 2025 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 16-20 | 1,302 | $3,430,000 | $2,634 | $2,634 | Jul 2025 | Resale |
| THE BELVEDERE | 15 | RCR | 2 | 11-15 | 1,012 | $2,560,000 | $2,530 | $2,530 | Jun 2025 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 11-15 | 1,302 | $3,288,888 | $2,525 | $2,525 | Nov 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 06-10 | 1,302 | $3,088,000 | $2,371 | $2,371 | Sep 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 01-05 | 1,367 | $2,900,000 | $2,121 | $2,121 | Sep 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 16-20 | 1,302 | $3,238,000 | $2,486 | $2,486 | Sep 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 2 | 16-20 | 1,012 | $2,490,000 | $2,461 | $2,461 | Sep 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 21-25 | 1,259 | $3,088,000 | $2,452 | $2,452 | May 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 21-25 | 1,367 | $3,220,000 | $2,355 | $2,355 | Apr 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 06-10 | 1,302 | $3,000,000 | $2,303 | $2,303 | Mar 2024 | Resale |
| THE BELVEDERE | 15 | RCR | 2 | 21-25 | 1,012 | $2,470,000 | $2,441 | $2,441 | Sep 2023 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 01-05 | 1,313 | $2,450,000 | $1,866 | $1,866 | Aug 2023 | Resale |
| THE BELVEDERE | 15 | RCR | 3 | 11-15 | 1,367 | $3,150,000 | $2,304 | $2,304 | Jun 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.