Toa Payoh HDB Resale Prices

The HDB resale market in Toa Payoh has recorded 7,839 transactions between July 2017 and April 2026. At a median resale price of S$564K,Toa Payoh is 13% more expensive than the Singapore-wide HDB median of S$500K.

Prices have climbed 40% over the past twelve months, from S$635K to S$890K. This rate of appreciation outpaces general inflation and reflects sustained buyer demand in Toa Payoh. Buyers who purchased a year ago have already seen paper gains of approximately S$255K on a typical unit.

The most commonly transacted flat type in Toa Payoh is the 3 room, with 3,411 recorded resales. A 4-room flat in Toa Payoh costs a median of S$715,000, while a 5-room flat costs S$855,000. Buyers on a tighter budget can consider 3-room flats at S$332,000, though supply is limited with only 3,411 transactions in the data set.

Toa Payoh has entered the million-dollar HDB club. The highest recorded resale price is S$1,600,000, placing it among the growing number of towns where HDB flats have breached the seven-figure mark. These transactions typically involve large executive or maisonette units with 80+ years of remaining lease, located in mature blocks with unobstructed views.

Floor level is one of the most significant price factors in Toa Payoh's HDB market. For 4-room flats, the data shows a clear staircase pattern: units on floors 31 TO 33 sell for a median of S$934,000, while ground-floor units (01 TO 03) sell for S$546,500. That is a 71% premium for higher floors, or roughly S$388K more in absolute terms.

This premium reflects several factors: better ventilation and natural light, reduced noise from ground-level activity, improved views (especially for blocks near parks or open areas), and a perception of privacy. For buyers on a budget, choosing a lower floor in a preferred block can save S$388K while keeping the same address.

Remaining lease is arguably the most important factor for long-term value. In Toa Payoh, the price per square metre tells a clear story about how the market values newer versus older flats. Newer flats (built 2015 onwards) trade at S$10,953/sqm, while pre-1990 flats trade at S$5,063/sqm. That is a 116% premium for newer stock on a per-square-metre basis.

However, older flats in Toa Payoh are not always the worse deal. Pre-1990 flats tend to be significantly larger (averaging 78 sqm versus 86 sqm for new builds). Buyers who prioritise space over remaining lease may find better value in mature blocks, especially if they plan to live in the flat rather than sell it within a decade.

Toa Payoh has 11 distinct flat models in its resale stock. The most common is the Improved (3,645 transactions, average S$442K). DBSS (Design, Build and Sell Scheme) flats command a significant premium at S$9,393/sqm, which is 77% higher than the standard Improved at S$5,296/sqm. DBSS flats were developed by private developers with higher-spec finishes, which explains the premium even years after completion.

Maisonettes, the two-storey HDB units that are no longer built, trade at an average of S$892K in Toa Payoh. With 139 transactions in the data set, they represent a niche but sought-after segment. Their scarcity (HDB stopped building maisonettes in 1995) and generous floor area make them popular with families who want landed-style living at HDB prices.

The most actively traded address in Toa Payoh is LOR 1 TOA PAYOH, with 1300 recorded transactions at a median of S$365,000. Interestingly, LOR 2 TOA PAYOH commands a higher median of S$790,000 despite fewer transactions, suggesting it is a more sought-after address within Toa Payoh. The price spread across the top streets ranges from S$323K to S$928K, reflecting differences in block age, proximity to MRT stations, and proximity to amenities.

In terms of pricing, Toa Payoh sits closest to Kallang/Whampoa (S$570K), Central Area (S$575K), Tampines (S$550K). Buyers looking for a more affordable alternative might consider Ang Mo Kio at S$420K, which is 34% cheaper. Those willing to pay more for centrality or prestige could look at Bukit Timah at S$784K.