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 CARRARA | 15 | RCR | 5* | - | 2,669 | $8,277,777 | $3,101 | $3,101 | Jun 2025 | New Sale |
| THE CARRARA | 15 | RCR | 5* | - | 3,003 | $9,200,000 | $3,063 | $3,063 | Dec 2024 | New Sale |
| THE CARRARA | 15 | RCR | 5* | - | 2,293 | $7,288,888 | $3,179 | $3,179 | Oct 2024 | New Sale |
| THE CARRARA | 15 | RCR | 5* | - | 3,003 | $9,300,000 | $3,097 | $3,097 | Jun 2024 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.