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 |
|---|---|---|---|---|---|---|---|---|---|---|
| VELA BAY | 16 | OCR | 1* | 01-05 | 592 | $1,547,000 | $2,613 | $2,751 | May 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 11-15 | 1,033 | $2,990,000 | $2,894 | $3,046 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 26-30 | 1,033 | $3,258,000 | $3,153 | $3,319 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 16-20 | 1,033 | $3,128,000 | $3,027 | $3,186 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 16-20 | 1,033 | $3,098,000 | $2,998 | $3,156 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 06-10 | 1,033 | $2,983,000 | $2,887 | $3,039 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 31-35 | 1,033 | $3,298,000 | $3,192 | $3,360 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 06-10 | 1,033 | $2,922,000 | $2,828 | $2,977 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 3* | 26-30 | 1,033 | $3,248,000 | $3,143 | $3,308 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 21-25 | 484 | $1,428,000 | $2,948 | $3,103 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 06-10 | 484 | $1,266,000 | $2,614 | $2,752 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 01-05 | 484 | $1,254,000 | $2,589 | $2,725 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 06-10 | 484 | $1,322,000 | $2,729 | $2,873 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 26-30 | 484 | $1,506,000 | $3,109 | $3,273 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 16-20 | 484 | $1,404,000 | $2,899 | $3,052 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 21-25 | 484 | $1,436,000 | $2,965 | $3,121 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 06-10 | 484 | $1,260,000 | $2,601 | $2,738 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 16-20 | 484 | $1,396,000 | $2,882 | $3,034 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 16-20 | 484 | $1,388,000 | $2,866 | $3,017 | Apr 2026 | New Sale |
| VELA BAY | 16 | OCR | 1* | 16-20 | 484 | $1,412,000 | $2,915 | $3,068 | Apr 2026 | New Sale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.