A perpendicular spin-transfer torque magnetic random access memory (STTMRAM) element includes a fixed layer having a magnetization that is substantially fixed in one direction and a barrier layer formed on top of the fixed layer and a free layer. The free layer has a number of alternating laminates, each laminate being made of a magnetic layer and an insulating layer. The magnetic layer is switchable and formed on top of the barrier layer. The free layer is capable of switching its magnetization to a parallel or an anti-parallel state relative to the magnetization of the fixed layer during a write operation when bidirectional electric current is applied across the STTMRAM element. Magnetic layers of the laminates are ferromagnetically coupled to switch together as a single domain during the write operation and the magnetization of the fixed and free layers and the magnetic layers of the laminates have perpendicular anisotropy.