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 STELLAR | 5 | OCR | 3 | 01-05 | 1,485 | $2,600,000 | $1,750 | $1,750 | Mar 2026 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 1,485 | $2,588,000 | $1,742 | $1,742 | Mar 2025 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 1,389 | $2,280,000 | $1,642 | $1,642 | Feb 2025 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 2,207 | $3,050,000 | $1,382 | $1,382 | Jan 2025 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 1,335 | $2,410,000 | $1,806 | $1,806 | Dec 2024 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 1,313 | $2,050,000 | $1,561 | $1,561 | Oct 2024 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 2,207 | $3,000,000 | $1,360 | $1,360 | Aug 2024 | Resale |
| THE STELLAR | 5 | OCR | 5* | 01-05 | 1,884 | $2,668,888 | $1,417 | $1,417 | Aug 2024 | Resale |
| THE STELLAR | 5 | OCR | 3 | 01-05 | 1,421 | $2,400,000 | $1,689 | $1,689 | Apr 2024 | Resale |
| THE STELLAR | 5 | OCR | 4* | 01-05 | 1,281 | $2,000,000 | $1,561 | $1,561 | Oct 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.