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).
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Transaction prices per square foot
| Project | Dist | Region | Bed | Floor | Area | Price | PSF | 99yr Norm | Date | Type |
|---|---|---|---|---|---|---|---|---|---|---|
| VIBES @ KOVAN | 19 | OCR | 1 | 01-05 | 377 | $630,000 | $1,672 | — | Nov 2025 | Resale |
| VIBES @ KOVAN | 19 | OCR | 2 | 01-05 | 570 | $825,000 | $1,446 | — | Mar 2025 | Resale |
| VIBES @ KOVAN | 19 | OCR | 1 | 01-05 | 517 | $760,000 | $1,471 | — | Nov 2024 | Resale |
| VIBES @ KOVAN | 19 | OCR | 2 | 01-05 | 786 | $1,000,000 | $1,273 | — | Sep 2024 | Resale |
| VIBES @ KOVAN | 19 | OCR | 2 | 01-05 | 786 | $981,000 | $1,248 | — | Jan 2024 | Resale |
| VIBES @ KOVAN | 19 | OCR | 1 | 01-05 | 441 | $680,000 | $1,541 | — | Sep 2023 | Resale |
| VIBES @ KOVAN | 19 | OCR | 1 | 01-05 | 388 | $670,000 | $1,729 | — | Jul 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.