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 |
|---|---|---|---|---|---|---|---|---|---|---|
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,205 | $6,500,000 | $2,028 | $2,028 | Nov 2025 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 2,059 | $4,600,000 | $2,234 | $2,234 | Oct 2025 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,209 | $8,000,000 | $2,493 | $2,493 | Jul 2025 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,291 | $6,300,000 | $1,915 | $1,915 | Feb 2025 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,333 | $5,900,000 | $1,770 | $1,770 | Aug 2024 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,199 | $9,280,000 | $2,901 | $2,901 | May 2024 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,287 | $5,800,000 | $1,764 | $1,764 | Apr 2024 | Resale |
| THOMSON RIDGE | 20 | RCR | 5* | - | 3,198 | $6,200,000 | $1,939 | $1,939 | Jul 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.