Toa Payoh Spring is a Plus BTO launch in TOA PAYOH (D12), part of the October 2025 BTO exercise. 620 units across 4 flat types, 10-year minimum occupation period.
Location & amenities
Amenity data not yet enriched for this project. Site analysis updates when the admin runs POST /admin/bto/enrich/40.
Unit mix & indicative pricing
| Flat type | Units | Indicative price | Area (sqm) |
|---|---|---|---|
| 2-Room Flexi | 62 | $23,000 – $40,000 | 37 – 45 |
| 3-Room | 124 | $40,000 – $63,000 | 65 – 72 |
| 4-Room | 310 | $56,000 – $85,000 | 90 – 97 |
| 5-Room | 124 | $68,000 – $103,000 | 110 – 117 |
BTO indicative PSF vs nearby HDB resale (TOA PAYOH, last 12 months)
Same town, matched flat type. Positive discount = BTO cheaper.
| Flat type | BTO PSF (mid) | Resale PSF (est.) | Discount vs resale |
|---|---|---|---|
| 2-Room Flexi | $750 | $665 | -12.8% |
| 3-Room | $750 | $642 | -16.8% |
| 4-Room | $750 | $917 | 18.3% |
| 5-Room | $750 | $869 | 13.7% |
Ballot odds & precedent
Final ballot subscription rates
| Flat type | Applicant | Supply | Applications | Rate |
|---|---|---|---|---|
| 2-Room Flexi | First-timer | 40 | 851 | 21.27x |
| 2-Room Flexi | Second-timer | 19 | 23 | 1.21x |
| 3-Room | First-timer | 81 | 513 | 6.33x |
| 3-Room | Second-timer | 37 | 30 | 0.81x |
| 4-Room | First-timer | 202 | 2,095 | 10.37x |
| 4-Room | Second-timer | 93 | 197 | 2.12x |
| 5-Room | First-timer | 81 | 390 | 4.81x |
| 5-Room | Second-timer | 37 | 57 | 1.54x |
Historical precedent: TOA PAYOH · Plus
| Flat type | Applicant | Median rate | Sample size |
|---|---|---|---|
| 2-Room Flexi | First-timer | 21.27x | 1 |
| 2-Room Flexi | Second-timer | 1.21x | 1 |
| 3-Room | First-timer | 6.33x | 1 |
| 3-Room | Second-timer | 0.81x | 1 |
| 4-Room | First-timer | 10.37x | 1 |
| 4-Room | Second-timer | 2.12x | 1 |
| 5-Room | First-timer | 4.81x | 1 |
| 5-Room | Second-timer | 1.54x | 1 |
Affordability worked examples
Assumptions: HDB concessionary loan at 2.6%, 25-year tenure, 75% LTV. Replace grant amounts with your eligibility from the HDB Grant Calculator.
| Persona | Flat | Price | Est. grant | Net price | Downpayment | Monthly |
|---|---|---|---|---|---|---|
| Young couple, first-timer (combined income S$8,000/month) | 3-Room | $52,000 | $60,000 | $0 | $0 | $0 |
| Family, first-timer (combined income S$12,000/month) | 4-Room | $71,000 | $30,000 | $41,000 | $10,250 | $140 |
| Upgrader, second-timer (combined income S$16,000/month) | 4-Room | $71,000 | $0 | $71,000 | $17,750 | $242 |
Plus subsidy recovery on resale
Plus flats carry a subsidy recovery on resale (typically ~6% applied to the eventual resale price). This is the price of the larger upfront subsidy you receive on purchase. Plus and Prime also have a 10-year MOP (vs Standard's 5-year) and bans on renting out the whole flat.
Use the BTO Plus/Prime Clawback Calculator to estimate net proceeds at a hypothetical sale year and compare against the Standard equivalent.
Related
- All projects in October 2025 BTO
- BTO vs Resale Calculator
- HDB Grant Eligibility
- HDB Loan vs Bank Loan
- TOA PAYOH HDB town profile
Sources & methodology
Methodology & Sources
Figures below are drawn from October 2025 BTO and revised one-time.
HDB resale and rental data from data.gov.sg.
- HDB project list and indicative pricing sourced from HDB press releases for the October 2025 BTO launch.
- Nearby resale comparison uses HDB resale transactions in TOA PAYOH over the last 12 months (averaged price ÷ midpoint floor area, converted to PSF).
- Ballot odds precedent aggregates final subscription rates from past BTO launches in TOA PAYOH under the Plus tier; median is reported with sample-size.
- Walkability score from ShiokNest WalkabilityService (DB-based: MRT + schools); OneMap amenities fetched on enrichment.
We report medians (not means) so a single outlier transaction cannot skew district-level figures. PSF = price per square foot.