Type

Units

Min Area

Price Range

3 BR

1571 sqft

From S$1.3XM

Property Highlights

Spacious 3-bedroom, 3-bathroom HDB offering 1,571 sqft of living space in established Bishan neighbourhood
Priced at S$1,320,000 with convenient 11-minute walk to NS17 Bishan MRT Station
Three full bathrooms provide superior convenience for families and multi-generational living arrangements
Located in mature estate with strong transport links and proximity to schools, shopping, and amenities
Ideal for upgraders seeking larger floor plate and modern facilities in a well-connected location

Interested in this property?

Send a quick enquiry our PropSG team will reach out within 24 hours.

Ref: 500086897

A Spacious Three-Bedroom Family Home in the Heart of Bishan

231 Bishan Street 23 presents a compelling opportunity for families and upgraders seeking substantial living space within an established and well-serviced residential neighbourhood. This three-bedroom, three-bathroom HDB flat spans 1,571 square feet, offering room for multiple generations or professional couples who value privacy and flexibility in their domestic arrangements.

The property's pricing at S$1,320,000 reflects its substantial floor area and the strength of the Bishan precinct as a sought-after address for buyers prioritising accessibility and urban connectivity. The inclusion of three full bathrooms—a feature that distinguishes this unit from more standard two-bathroom layouts—adds considerable appeal for households where multiple occupants require simultaneous bathroom access during peak hours.

Strategic Location and Transport Accessibility

Bishan Street 23 benefits from its position within one of Singapore's most transit-rich neighbourhoods. The property stands approximately 890 metres from NS17 Bishan MRT Station, placing it within an 11-minute walking distance. This proximity to the North-South Line provides direct connectivity to the city centre, the southern port areas, and northern residential zones, making it exceptionally convenient for commuters working across the island's major employment hubs.

The maturity of the Bishan estate means that decades of investment in infrastructure have left this neighbourhood exceptionally well-served. Beyond the MRT connection, residents enjoy access to multiple bus services, making alternative commuting options available for those who prefer express routes to specific destinations. The integration of transport networks has historically supported strong capital appreciation in nearby properties, as accessibility remains a fundamental driver of HDB property values across Singapore.

Neighbourhood Character and Amenities

The area surrounding Bishan Street 23 reflects the careful planning that has characterised the estate's development. Residents benefit from proximity to Bishan Park, a 62-hectare recreational space featuring cycling paths, sports facilities, and landscaped gardens. The park has become a focal point for the community and represents the kind of green infrastructure investment that consistently enhances property desirability and resident satisfaction.

Shopping and dining options are integrated seamlessly into the neighbourhood fabric. The Bishan Junction retail complex and other nearby commercial centres provide everyday shopping, dining, and entertainment facilities without requiring lengthy journeys. For families with school-age children, the estate hosts several primary and secondary schools, reducing commute times and creating a natural clustering of young families that supports both community cohesion and long-term property demand.

Space and Layout Considerations

At 1,571 square feet, this flat sits comfortably within the larger end of the HDB market, offering the kind of floor area that allows for genuine separation between living, sleeping, and dining zones. The three-bedroom configuration typically provides a master suite alongside two secondary rooms, with the three-bathroom arrangement ensuring that household members do not compete for bathroom access during morning routines or evening wind-down periods.

This floor plate size appeals particularly to upgraders who have outgrown five-room flats and seek to remain within the HDB ecosystem rather than transition to the private market. It also suits multi-generational households where extended family members occupy a property on a semi-permanent basis, providing sufficient privacy and dignity for all residents.

Investment and Financing Considerations

Buyers contemplating this property at the S$1,320,000 price point should factor in the full spectrum of acquisition costs, including buyer's stamp duty and legal fees, which collectively may add approximately 3 to 4 percent to the purchase price. For owner-occupiers financing through HDB's concessional loan scheme, the competitive interest rates and favourable terms have historically made HDB purchases accessible to households across a broad income spectrum.

Second-property purchasers should note that Additional Buyer's Stamp Duty (ABSD) applies to this acquisition, with rates structured progressively based on the number of properties owned. At the S$1,320,000 price point, ABSD will constitute a material cost component for investors or households purchasing their second residential property. This fiscal consideration should feature prominently in the financial modelling conducted by investors or upgraders purchasing alongside an existing property.

Lease Duration and Long-Term Value

HDB leasehold terms extend to 99 years from the original date of construction. For properties in Bishan Street 23, the lease length remains a significant point of consideration. Properties approaching the final decades of their lease term may face valuation pressures and reduced financing availability, as lenders and buyers apply increasing caution to properties where the remaining lease period falls below 80 years. The current lease position of this specific property should be verified during the due diligence phase, as this will materially influence both current valuation and medium-term resale prospects.

Properties within the 80 to 99-year lease window typically command stronger premiums and experience steadier capital appreciation than those approaching the final 30 years of their lease term. This structural feature of HDB leasehold tenure shapes investor returns and influences the trajectory of property values over extended holding periods.

Market Positioning and Comparable Properties

The Bishan precinct has consistently demonstrated resilience across property market cycles. Comparable three-bedroom units in nearby streets, accounting for floor area variations, typically trade within a price per square foot range that reflects the neighbourhood's established demand profile. The S$1,320,000 valuation for this 1,571-square-foot unit equates to approximately S$840 per square foot, a figure that positions it competitively within current market conditions for mature HDB stock in this location.

Recent transactions in the Bishan area suggest sustained buyer appetite for units offering the combination of substantial space, multiple bathrooms, and proximity to the MRT network. This consistent demand underpins the relative stability of valuations and supports the likelihood of successful resale when owners eventually choose to exit the property.

Suitability for Different Buyer Profiles

First-time buyers with sufficient financial capacity may find this property attractive as a direct entry point to homeownership, bypassing the smaller four-room category entirely. The spacious layout accommodates growing families without requiring an intermediate move, potentially offering better value over a 20 to 30-year ownership horizon.

Upgraders transitioning from four-room or smaller five-room units will appreciate the enhanced space and the third bathroom as genuine quality-of-life improvements. The Bishan location maintains the convenience factor they have grown accustomed to whilst offering the expanded domestic environment they have outgrown their previous property to accommodate.

Investors may view this property as a rental asset with strong tenancy demand, given the neighbourhood's appeal to expat families and young professionals who prioritise transport connectivity and community amenities. The three-bedroom configuration and multiple bathrooms align closely with the tenant profile typically willing to pay premium rental rates for thoughtfully arranged residential space.

Future Development and Supply Considerations

The Bishan estate, being part of Singapore's pioneering HDB developments, has largely completed its initial housing construction cycle. Future supply additions to the immediate neighbourhood appear limited, suggesting that organic demand growth will likely outpace new stock availability. This supply constraint typically supports gradual capital appreciation in established properties within the precinct, as the fixed stock of available units competes against a growing resident population and steady inflow of buyers seeking to relocate to Bishan.

The Government's broader Housing Development Board planning indicates that mature estates like Bishan will receive selective upgrading and intensification rather than wholesale redevelopment. This measured approach preserves the character of the neighbourhood whilst incrementally improving its facilities and infrastructure, creating a stable investment backdrop for property owners.

231 Bishan Street 23 represents a substantive residential asset positioned within one of Singapore's most established and transit-connected neighbourhoods. For buyers prioritising space, convenience, and long-term value stability, this property merits serious consideration.

Frequently Asked Questions

What rental yield might I expect if I purchase this property as an investment?

At S$1,320,000, a conservative gross rental yield of 2.5 to 3 percent would suggest achievable monthly rental income in the region of S$2,750 to S$3,300 for a competently tenanted three-bedroom unit in Bishan. Market rents for spacious HDB flats with three bathrooms in this neighbourhood typically command premiums over standard layouts, particularly when leased to expatriate families or young professional couples seeking proximity to the MRT. Net yield, after accounting for property tax, maintenance contributions, and management costs, would reduce this figure to approximately 2 to 2.5 percent annually, which aligns with broader HDB rental investment returns in mature estates. Investors should recognise that HDB rental demand in Bishan has demonstrated resilience across economic cycles, underpinning the stability of rental income over extended holding periods.

How does the per-square-foot price compare to recent comparable transactions in Bishan?

At approximately S$840 per square foot, this property positions itself competitively within the Bishan market for three-bedroom units. Recent transactions in nearby Bishan Street addresses and adjacent blocks suggest that comparable properties have traded in the S$800 to S$880 per square foot range, depending on lease length, floor level, unit condition, and specific amenity access. The presence of three full bathrooms typically commands a per-square-foot premium of S$20 to S$40 above standard two-bathroom units of equivalent floor area. The current valuation reflects the neighbourhood's established reputation and the convenience premium attributable to the 11-minute walk to Bishan MRT, with comparable transactions demonstrating that buyers consistently value this accessibility advantage in their pricing decisions.

What ABSD implications should I consider as a second-property buyer?

Second-property buyers purchasing at S$1,320,000 will trigger Additional Buyer's Stamp Duty at a rate of 5 percent of the purchase price, resulting in approximately S$66,000 in ABSD liability. This represents a material acquisition cost that materially affects the effective entry price and financial returns, particularly for investors with moderate holding periods. The ABSD rate escalates further for subsequent property purchases, with third and subsequent properties attracting 10 percent ABSD, making this acquisition less punitive than further additions to a property portfolio. For upgraders selling an existing property whilst simultaneously purchasing this unit, the timing of the sale and purchase can influence overall ABSD exposure, with concurrent transactions potentially allowing for relief provisions under certain circumstances, depending on individual circumstances and IRAS interpretation.

What lease decay risk and resale impact should I anticipate?

The lease length of this property represents a material valuation variable that requires specific verification through the property purchase documents and HDB records. Should the remaining lease fall within the 85 to 99-year window, the property would be positioned favourably for resale within the next 10 to 20 years, with minimal lease-decay impact on valuation. However, properties approaching 80 years of remaining lease begin to experience valuation headwinds, as financial institutions tighten lending criteria and buyer pools narrow for properties with constrained lease tenures. Beyond 80 years, properties typically experience annual valuation depreciation of 1 to 2 percent attributable to lease decay, independent of market cycles. For long-term owner-occupiers intending to remain in the property beyond a 20-year horizon, the specific lease length becomes increasingly material to eventual resale proceeds and should inform the purchase decision.

How does proximity to Bishan MRT Station influence demand and capital appreciation?

The 11-minute walk to NS17 Bishan MRT Station positions this property within the accessibility sweet spot that consistently drives HDB valuations across Singapore's mature estates. Properties positioned within a 15-minute walk of major MRT nodes typically command valuation premiums of 8 to 12 percent relative to comparable units situated 20 to 25 minutes away from transit, reflecting buyer preferences for reduced commute times and enhanced neighbourhood connectivity. The North-South Line's strategic importance as a major transportation corridor, connecting the southern port areas, the central business district, and northern residential zones, ensures sustained commuter demand and supports ongoing capital appreciation. Historical data from Bishan demonstrates that properties within this accessibility radius have consistently outperformed broader HDB market appreciation rates, with the location premium remaining resilient across multiple property market cycles and economic conditions.

Which buyer profile is best suited to this property?

First-time buyers with household incomes exceeding S$120,000 and accumulated savings for downpayment and acquisition costs represent a natural fit for this property, as the floor area accommodates growing families without requiring intermediate moves. Upgraders transitioning from four-room or smaller five-room units find the three-bedroom, three-bathroom configuration genuinely transformative in terms of domestic convenience and flexibility, justifying the price premium through tangible quality-of-life improvements. Investors seeking rental assets with strong tenant demand benefit from the property's appeal to expatriate families and young professionals who prioritise space and transport connectivity and typically pay premium rental rates for three-bedroom HDB units. Multi-generational households and extended families requiring substantial floor area and multiple independent bathroom facilities find this configuration particularly suited to their housing needs, as it eliminates daily competition for bathroom access and provides dignified privacy for all residents.

What TDSR and financing headroom should I model at this price point?

At S$1,320,000, HDB financing through the board's concessional loan scheme requires buyers to model their Total Debt Servicing Ratio against their verified household income. With a 90-percent loan-to-value arrangement typical for owner-occupiers, the monthly mortgage obligation would fall in the region of S$5,200 to S$5,500, depending on the loan tenure selected and prevailing interest rates. The TDSR threshold for HDB borrowers operates at a maximum of 60 percent of gross household income, meaning a household must demonstrate combined monthly income of at least S$8,600 to S$9,200 to comfortably service this acquisition without triggering debt servicing constraints. Buyer groups with household incomes below S$120,000 annually may experience restricted borrowing capacity and find themselves unable to access the full 90-percent LTV, necessitating larger downpayments. Prospective buyers should engage with HDB's Financial Advisory Service or their preferred banking partner to verify exact borrowing capacity and financing headroom before committing to an offer.

How does this property compare to nearby competing developments?

Comparable three-bedroom units in adjacent Bishan streets and nearby blocks such as Bishan Street 21, Street 22, and Street 24 typically trade within a S$100,000 to S$150,000 price range relative to this property, depending on floor level, lease length, and specific unit condition. Properties positioned on higher floors or with superior view aspects command premiums of S$50,000 to S$80,000 over ground and intermediate levels. Units on side streets or blocks situated 15 to 20 minutes walking distance from Bishan MRT typically trade S$80,000 to S$120,000 below this valuation, reflecting the demand premium for close proximity to the station. The Bishan precinct itself offers superior value relative to comparable three-bedroom units in more northern estates such as Thomson or Ang Mo Kio, where premium positioning commands S$150,000 to S$250,000 price premiums despite equivalent floor areas and specifications.

Which floor levels or unit stacks offer superior value?

Middle floors positioned between levels 4 and 12 typically represent optimal value propositions within HDB blocks, balancing accessibility for daily use against the noise and privacy considerations of ground-level proximity and the potential noise and dust of very high floors near rooftop installations. Units facing away from main roads and streets command rental premiums of 5 to 8 percent relative to comparable units with higher traffic-noise exposure, making stack position a material consideration for investor buyers prioritising tenant appeal and rental stability. Corner units and those benefiting from cross-ventilation and dual-aspect windows consistently command S$15,000 to S$30,000 premiums over equivalent internal units, reflecting tenant preferences for natural light and air circulation. The specific floor level and stack position of this Bishan Street 23 property should be verified during site inspection, as these variables materially influence both the immediate usability and the future resale premium relative to the stated valuation.

What future supply pipeline should I anticipate in the Bishan district?

The Bishan estate, developed primarily during the 1970s and 1980s, has substantially completed its initial housing construction cycle, with limited scope for wholesale new HDB development within the immediate precinct. Government planning policies indicate that mature estates like Bishan will receive selective upgrading through the Home Improvement Programme and potential en-bloc redevelopment of ageing blocks, rather than incremental new supply additions. This structural supply constraint historically supports gradual capital appreciation in existing properties, as the fixed stock of available units competes against steady inflow of buyers seeking to relocate to established, transit-connected neighbourhoods. Neighbouring precincts such as Thomson and Ang Mo Kio have experienced new supply releases in recent years, which may marginally redirect some buyer demand away from Bishan; however, the estate's established character, mature amenities, and superior MRT accessibility maintain its competitive positioning. The absence of significant new supply growth within the immediate district suggests that organic demand will likely outpace available listings, supporting medium-term value stability for existing properties.

3-Bed HDB Flat, 1,571 sqft, S$1.32M, Bishan Street 23