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 MAKENA | 15 | RCR | 3* | 21-25 | 1,152 | $2,680,000 | $2,327 | $2,327 | Feb 2026 | Resale |
| THE MAKENA | 15 | RCR | 4* | 06-10 | 1,582 | $3,500,000 | $2,212 | $2,212 | Feb 2026 | Resale |
| THE MAKENA | 15 | RCR | 3* | 11-15 | 1,152 | $2,610,000 | $2,266 | $2,266 | Dec 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 06-10 | 1,518 | $3,400,000 | $2,240 | $2,240 | Oct 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 06-10 | 1,636 | $3,515,000 | $2,148 | $2,148 | Sep 2025 | Resale |
| THE MAKENA | 15 | RCR | 5* | 26-30 | 1,647 | $3,700,000 | $2,247 | $2,247 | Sep 2025 | Resale |
| THE MAKENA | 15 | RCR | 3* | 11-15 | 926 | $2,250,000 | $2,431 | $2,431 | Sep 2025 | Resale |
| THE MAKENA | 15 | RCR | 3* | 06-10 | 926 | $2,050,000 | $2,215 | $2,215 | Sep 2025 | Resale |
| THE MAKENA | 15 | RCR | 3* | 06-10 | 1,152 | $2,510,000 | $2,179 | $2,179 | Sep 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 11-15 | 1,636 | $3,450,000 | $2,109 | $2,109 | Jun 2025 | Resale |
| THE MAKENA | 15 | RCR | 3* | 06-10 | 926 | $2,000,000 | $2,161 | $2,161 | Jun 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 06-10 | 1,292 | $2,758,000 | $2,135 | $2,135 | May 2025 | Resale |
| THE MAKENA | 15 | RCR | 3* | 16-20 | 1,152 | $2,438,888 | $2,118 | $2,118 | Apr 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 06-10 | 1,636 | $3,250,000 | $1,986 | $1,986 | Apr 2025 | Resale |
| THE MAKENA | 15 | RCR | 3* | 16-20 | 1,152 | $2,440,000 | $2,119 | $2,119 | Apr 2025 | Resale |
| THE MAKENA | 15 | RCR | 5* | 16-20 | 1,744 | $3,910,000 | $2,242 | $2,242 | Mar 2025 | Resale |
| THE MAKENA | 15 | RCR | 4* | 11-15 | 1,582 | $3,420,000 | $2,161 | $2,161 | Mar 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 01-05 | 1,668 | $2,800,000 | $1,678 | $1,678 | Mar 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 21-25 | 1,636 | $3,420,000 | $2,090 | $2,090 | Feb 2025 | Resale |
| THE MAKENA | 15 | RCR | 3 | 06-10 | 1,292 | $2,720,000 | $2,106 | $2,106 | Feb 2025 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.