PSF Meaning in Singapore Property: Price per Square Foot, PSM and Quantum Explained

PSF means price per square foot. It is the number Singapore buyers, agents and analysts use to compare homes of different sizes: take the price, divide it by the floor area in square feet, and you have a figure you can line up against other units and other projects. It is useful, but it hides a few things. This guide explains how psf is worked out, how it relates to psm and to the total price (the “quantum”), and how to read the estimates for LinkTown Residences (Hougang Central Residences), the new launch above Hougang MRT (NE14).

The formula

PSF = price ÷ floor area in square feet

Example: a 700 sq ft unit priced at S$1,750,000 works out to S$2,500 psf. Turn it around and you get the quantum: price = psf × area.

PSF vs PSM

Property in Singapore is measured in both units. Developers’ price lists and most media reports use square feet; strata titles, URA planning data and HDB use square metres.

• 1 sqm ≈ 10.764 sq ft
• psm = psf × 10.764 (so S$2,500 psf ≈ S$26,910 psm)
• sq ft = sqm × 10.764 (so 63 sqm ≈ 678 sq ft)

When you compare a condo with an HDB flat, convert to the same unit first. HDB floor areas are quoted in square metres.

What floor area is behind the psf

For condos, psf is normally based on strata floor area, the area within the unit’s strata boundary. URA’s property market glossary says that for strata properties such as apartments and condominiums, median psf is calculated on strata floor area. That area can include more than the rooms you walk around in:

• balcony
• air-conditioner ledge (URA’s planning guidelines count AC ledges included as strata area towards gross floor area)
• household shelter (the reinforced bomb shelter, often used as a store room)
• bay windows, planters or voids, depending on the design and the rules in force when it was approved
• private enclosed spaces or roof terraces on some ground-floor and top-floor units

Which of these count differs by project, so read the notes on each plan. The Parktown Residence brochure plans behind our indicative layouts, for example, state that the area includes the balcony or private enclosed space where applicable, and that AC ledges and RC ledges are excluded from strata area. So two 700 sq ft units can feel quite different. One with a deep balcony and a large ledge has less indoor space than one with a compact balcony. The planning rules on what may be counted have tightened over the years, so newer projects tend to carry less “non-livable” area than some older ones, but it still varies. Our guide to reading a condo floor plan shows how to spot these areas.

Quantum: the number your loan is based on

PSF is for comparing. Quantum is what you pay, borrow against and pay stamp duty on. Two points follow:

1. Smaller units usually have a higher psf. Fixed items such as a kitchen and bathroom take up a bigger share of a small unit, and more buyers can afford the lower quantum, so developers often price compact units higher per square foot.
2. A lower psf can still mean a higher total price. A larger or older unit might be cheaper per square foot and still cost more overall, with higher maintenance fees and property tax to match.

Worked example with LinkTown’s indicative sizes

Indicative unit	Area	At S$2,500 psf	At S$2,600 psf
1 Bedroom + Study	506 sq ft (≈47 sqm)	≈S$1.27m	≈S$1.32m
2 Bedroom Premium	678 sq ft (≈63 sqm)	≈S$1.70m	≈S$1.76m
3 Bedroom Premium	1,066 sq ft (≈99 sqm)	≈S$2.67m	≈S$2.77m
4 Bedroom Premium	1,496 sq ft	≈S$3.74m	≈S$3.89m
5 Bedroom Premium	1,679 sq ft	≈S$4.20m	≈S$4.37m

Notice how S$100 psf means only about S$50,000 on the compact unit but about S$168,000 on the 5-bedroom. At launch, the actual psf will also vary by stack, floor and facing, so an “average psf” is a midpoint, not the price of every unit. See the indicative floor plans for the layouts behind these sizes.

PSF PPR: the land version

You will also see psf ppr, price per square foot per plot ratio. It is used for land sales: the land price divided by the maximum gross floor area the site may be built to. The Hougang Central site behind LinkTown Residences was won at S$1,179 psf ppr, for about S$1.5 billion. Land psf ppr is not the selling price of homes. Construction, financing, fees, taxes and margin sit on top, which is part of why analysts expect launch prices well above the land rate. Our price estimate guide walks through how analysts get there.

How to use psf sensibly

• Compare like with like: similar size, age, tenure and distance to MRT. A new 99-year launch and a 20-year-old freehold resale are different products; our freehold vs leasehold guide explains why.
• Look at internal space: ask for the area breakdown and subtract balcony and ledge when comparing livable space.
• Start from what you can afford: work out your ceiling on quantum first, then see what size that buys. Our mortgage affordability guide does this step by step.
• Check transaction data: URA publishes caveat-lodged transactions with psf and area, useful for checking resale comparisons.

For the latest estimates and what will be published at launch, see the LinkTown Residences price guide. Other terms, from psf ppr to strata area, are in our Singapore property glossary.

Register to get LinkTown Residences prices by unit type as soon as they’re released.

Frequently asked questions

What does psf mean in property?

Price per square foot: the price divided by the unit’s floor area in square feet. A 700 sq ft unit sold for S$1.75 million is S$2,500 psf.

How do I convert psf to psm?

One square metre is about 10.764 sq ft, so multiply psf by 10.764 to get price per square metre. S$2,500 psf is about S$26,910 psm.

Does condo psf include the balcony and AC ledge?

For condos, psf is usually based on strata floor area, which can include the balcony, air-conditioner ledge, household shelter and other spaces within the unit’s strata boundary. Check the area breakdown for each unit.

What is psf ppr?

Price per square foot per plot ratio. It is used for land sales: the land price divided by the maximum gross floor area allowed. The Hougang Central site was won at S$1,179 psf ppr.

Is a lower psf always better value?

Not necessarily. Larger units often have a lower psf but a higher total price, and older or less efficient layouts can look cheap per square foot. Compare quantum, layout and location too.