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 |
|---|---|---|---|---|---|---|---|---|---|---|
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,153 | $6,150,000 | $2,857 | $3,225 | Dec 2025 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,615 | $6,250,000 | $2,390 | $2,698 | Feb 2025 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,368 | $5,800,000 | $2,449 | $2,765 | Feb 2025 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,288 | $5,750,000 | $2,513 | $2,837 | Jan 2025 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,297 | $5,250,000 | $2,286 | $2,581 | Aug 2024 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,273 | $6,000,000 | $2,639 | $2,979 | Jun 2024 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,869 | $6,500,000 | $2,266 | $2,558 | Nov 2023 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,842 | $6,150,000 | $2,164 | $2,443 | Sep 2023 | Resale |
| VICTORIA PARK VILLAS | 10 | CCR | 5* | - | 2,352 | $5,800,000 | $2,466 | $2,784 | Jun 2023 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.