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 RISE ESTATE | 20 | RCR | 5* | - | 5,600 | $10,280,000 | $1,836 | $1,836 | Oct 2025 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 5,604 | $13,100,000 | $2,338 | $2,338 | Sep 2025 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 5,600 | $8,750,000 | $1,562 | $1,562 | Jun 2025 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 6,000 | $8,290,000 | $1,382 | $1,382 | May 2025 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 6,000 | $10,300,000 | $1,717 | $1,717 | Dec 2024 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 5,600 | $9,450,000 | $1,687 | $1,687 | Sep 2024 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 5,600 | $11,200,000 | $2,000 | $2,000 | May 2024 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 2,986 | $5,718,000 | $1,915 | $1,915 | Sep 2023 | Resale |
| THOMSON RISE ESTATE | 20 | RCR | 5* | - | 5,600 | $9,500,000 | $1,696 | $1,696 | Aug 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.