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 ESSENCE | 26 | OCR | 2 | 01-05 | 1,001 | $1,280,000 | $1,279 | $1,420 | Jan 2026 | Resale |
| THE ESSENCE | 26 | OCR | 2 | 01-05 | 689 | $1,070,000 | $1,553 | $1,724 | Sep 2025 | Resale |
| THE ESSENCE | 26 | OCR | 2 | 01-05 | 700 | $1,180,000 | $1,687 | $1,873 | May 2025 | Sub Sale |
| THE ESSENCE | 26 | OCR | 1 | 01-05 | 538 | $838,000 | $1,557 | $1,729 | Jul 2024 | Sub Sale |
| THE ESSENCE | 26 | OCR | 1 | 01-05 | 538 | $815,000 | $1,514 | $1,681 | Jul 2024 | Sub Sale |
| THE ESSENCE | 26 | OCR | 2 | 01-05 | 732 | $1,045,000 | $1,428 | $1,586 | Apr 2024 | Sub Sale |
| THE ESSENCE | 26 | OCR | 2 | 01-05 | 818 | $1,340,000 | $1,638 | $1,819 | Jan 2024 | Sub Sale |
| THE ESSENCE | 26 | OCR | 3 | 01-05 | 1,389 | $1,720,000 | $1,239 | $1,376 | Nov 2023 | Sub Sale |
| THE ESSENCE | 26 | OCR | 2 | 01-05 | 624 | $1,100,000 | $1,762 | $1,956 | Nov 2023 | Sub Sale |
| THE ESSENCE | 26 | OCR | 1 | 01-05 | 538 | $700,000 | $1,301 | $1,445 | Jun 2023 | Sub Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.