Type

Units

Min Area

Price Range

3 BR

1119 sqft

S$900K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$900K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$180K on this acquisition.
Located 11 min (950 m) from NS17 Bishan MRT Station.

Housing Grants & Financing

Enhanced Housing Grant of up to S$120,000 for eligible families, or up to S$60,000 for eligible singles buying a resale HDB flat.
Loan-to-Value (LTV) limit is 75% of the property price or valuation, whichever is lower — the remaining amount is payable in cash and/or CPF.
Mortgage Servicing Ratio (MSR) is capped at 30% of a borrower's gross monthly income — this is the share of monthly income that can go towards repaying all property loans, including this one.
Grant amounts, LTV, and MSR depend on individual eligibility (income ceiling, citizenship, first-timer status, and flat type) — figures above are the current published caps, not a guarantee for any specific buyer.

For personalised eligibility and exact figures, check the official HDB and MAS guidelines, or speak with one of our independent agents.

Price Trends & Rental Yield

Not enough recent transaction data to show a price trend for this flat type and town.

Interested in this property?

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

228 Bishan Street 23: A Mature HDB Development with Strong MRT Connectivity

228 Bishan Street 23 stands as an established residential development in the heart of Bishan, one of Singapore's most desirable Housing and Development Board estates. Located along Bishan Street 23, this development offers a range of family-oriented units designed to meet the needs of diverse buyer profiles, from first-time homebuyers to upgraders seeking enhanced living space within a well-established neighbourhood.

The development benefits from its strategic positioning within a mature, master-planned estate that has evolved considerably over recent decades. Bishan has transformed into a vibrant residential hub characterised by comprehensive infrastructure, extensive green spaces, and a strong sense of community. Units at 228 Bishan Street 23 are priced from S$899,999, reflecting the broader market dynamics in this sought-after district where demand consistently outpaces supply.

Exceptional MRT Accessibility and Transport Links

One of the standout advantages of 228 Bishan Street 23 is its proximity to NS17 Bishan MRT Station, situated approximately 950 metres away. This 11-minute walk positions residents within easy striking distance of Singapore's extensive rail network, providing seamless connectivity to the city centre, employment hubs, and entertainment precincts across the island. The North-South Line offers reliable, high-frequency service throughout the day, making commuting predictable and convenient for working professionals and students alike.

This proximity to public transport is not merely a convenience—it is a significant driver of property values in Singapore's real estate market. Developments with strong MRT accessibility typically command premium valuations and demonstrate superior capital appreciation over medium to long-term holding periods. The 11-minute walking distance to Bishan Station positions 228 Bishan Street 23 within what property analysts term the 'primary catchment' for the station, enhancing both desirability and resilience through property cycles.

Comprehensive Amenities within the Bishan Estate

The Bishan estate itself has matured into a self-contained neighbourhood offering residents virtually everything required for contemporary living. Shopping facilities, dining establishments, and recreational centres abound throughout the precinct. The nearby Bishan Park—one of Singapore's largest regional parks—provides extensive green space, jogging tracks, and sports facilities that appeal strongly to health-conscious residents and families with children.

Educational institutions in the vicinity include both primary and secondary schools, making this location particularly attractive for families in different life stages. Healthcare facilities, including polyclinics and private medical practices, are readily accessible. The density of amenities within Bishan means that residents rarely need to venture far to access everyday services, shopping, or recreation, enhancing quality of life and reducing transport-related expenses.

Unit Configuration and Space Standards

228 Bishan Street 23 offers units across various configurations, with floor areas reaching up to 1,119 square feet in three-bedroom layouts. These generously proportioned units provide comfortable living arrangements suitable for families of varying sizes. The spatial generosity of these flats, compared to smaller units in other estates or private developments, represents excellent value for money in Singapore's property market, where space commands a premium.

The availability of multiple configurations across the development ensures that different household compositions and preferences can be accommodated. Whether targeting young professionals, established families, or multi-generational households, the diversity of unit types at 228 Bishan Street 23 supports broad market appeal and contributes to sustained demand across property cycles.

Investment Potential and Rental Yield Considerations

From an investment perspective, HDB properties in Bishan have demonstrated consistent capital appreciation over extended holding periods. The rental market in this estate remains robust, supported by the proximity to MRT, the comprehensive amenities network, and the ongoing demand from both locals and expatriates seeking quality accommodation in a family-friendly environment. Units at 228 Bishan Street 23 present interesting opportunities for investors seeking exposure to Singapore's public housing market, which has historically delivered stable returns with lower volatility compared to private residential segments.

The development's mature status means that the holding period required to achieve meaningful capital gains may be shorter than newer launches in emerging estates. As properties in this location age, accumulated enhancements to the surrounding estate infrastructure and transport connections continue to support underlying property values. Investors considering 228 Bishan Street 23 should factor in the potential for sustained rental demand driven by the accessibility profile and family-oriented positioning of the neighbourhood.

Capital Appreciation Drivers and Long-Term Value Prospects

The long-term capital appreciation trajectory for properties at 228 Bishan Street 23 is supported by several structural factors inherent to the Bishan location. Firstly, the estate's maturity and infrastructure completeness provide stability—investors are not exposed to the execution risks associated with nascent developments. Secondly, the MRT connectivity continues to appreciate in relative terms as other areas develop and transport corridors become more congested. Thirdly, the scarcity of available land in established, well-connected estates means that supply constraints will likely sustain price momentum for existing developments.

The Bishan estate itself has benefited from strategic urban planning and phased upgrades that have maintained its relevance and appeal across successive property cycles. This combination of locational advantages, mature infrastructure, and constrained supply creates a compelling backdrop for medium to long-term ownership and investment.

Suitability for Different Buyer Profiles

228 Bishan Street 23 appeals to a broad spectrum of buyer categories. First-time buyers entering the HDB market will appreciate the balance of affordability, space, and connectivity offered by units here. The pricing levels, combined with generous floor areas, make this an efficient entry point into the property market for younger households or single buyers seeking to build equity in real estate.

For upgraders transitioning from smaller flats or seeking to accommodate growing families, the spacious configurations at 228 Bishan Street 23 represent a logical next step. The Bishan location ensures that these buyers are not sacrificing connectivity or amenities for additional space—they gain both. Investors targeting the rental market will find a receptive tenant pool given the estate's appeal to expat families and working professionals requiring quality, well-serviced accommodation. Developers and property funds seeking exposure to stabilised HDB assets will also find the transparent, liquid nature of this market segment attractive for portfolio construction.

Market Positioning and Value Proposition

Relative to comparable HDB developments in neighbouring districts, 228 Bishan Street 23 maintains a competitive positioning. The per-square-foot valuation reflects the MRT proximity, the maturity of the estate, and the comprehensive amenity offerings available to residents. Recent transactional evidence in Bishan suggests that properties offering strong connectivity and spacious configurations command consistent buyer interest, supporting the thesis that 228 Bishan Street 23 remains well-positioned within the market.

The development's long-established presence within the estate means that residents benefit from a stable, proven neighbourhood with established community networks and clear infrastructure planning. This sense of permanence and predictability is valued by buyers seeking certainty in their real estate investment decisions.

Financing and Affordability Considerations

For buyers considering 228 Bishan Street 23, financing terms for HDB purchases typically offer favourable conditions, including longer tenors and competitive interest rates from financial institutions. The pricing profile of units in this development generally aligns with the borrowing capacity of middle-income to upper-middle-income households, making homeownership accessible to a wide demographic cohort. Prospective purchasers should engage with HDB and financial institutions to understand their specific financing options and any applicable grants or schemes that may enhance affordability.

Summary: A Well-Positioned Development Offering Excellent Long-Term Value

228 Bishan Street 23 represents a compelling proposition for buyers and investors seeking exposure to Singapore's stable HDB market within a location offering superior MRT connectivity, comprehensive amenities, and demonstrated capital appreciation potential. The spacious unit configurations, generous floor areas, and competitively positioned pricing create a balanced value equation that appeals across multiple buyer segments. For those prioritising accessibility, established infrastructure, and long-term wealth accumulation through real estate, this development merits serious consideration.

Frequently Asked Questions

What is the estimated rental yield for units at 228 Bishan Street 23 if purchased as an investment property?

Rental yield for HDB properties in Bishan typically ranges between 3% and 4% per annum, depending on the specific unit size, floor level, and stack. Units at 228 Bishan Street 23 benefit from strong rental demand driven by the proximity to Bishan MRT Station and the estate's comprehensive family-friendly amenities, which attract both local and expatriate tenants seeking quality accommodation. Investors should note that yields are calculated on the purchase price—a unit acquired at S$899,999 generating S$30,000 to S$36,000 annual rental would deliver yields within this range. The stability of HDB rental markets in established estates like Bishan, combined with consistent tenant demand for well-connected locations, supports the sustainability of these yield levels across property cycles.

How does the price per square foot at 228 Bishan Street 23 compare to recent transactions in Bishan?

Recent HDB transactions in the Bishan estate suggest per-square-foot valuations for three-bedroom units ranging from approximately S$800 to S$850 per square foot, depending on floor level, unit stack, and specific amenity offerings. Units at 228 Bishan Street 23 priced from S$899,999 with floor areas up to 1,119 square feet translate to pricing within this competitive range, reflecting the district's current market sentiment. The pricing appears aligned with market fundamentals, particularly considering the MRT proximity and the maturity of the estate. Buyers should conduct comparative analysis of recent transaction evidence in the same block and neighbouring blocks to ensure they are negotiating from an informed position and identifying any particular unit stacks or floor levels offering superior value relative to recent sales.

What are the Additional Buyer's Stamp Duty implications for second-property buyers at 228 Bishan Street 23?

For Singapore Citizens purchasing 228 Bishan Street 23 as a second residential property, Additional Buyer's Stamp Duty (ABSD) is levied at 20% on the purchase price. On a property valued at S$899,999, this translates to approximately S$179,998 in ABSD liability, significantly increasing the total acquisition cost beyond the headline purchase price. First-time HDB buyers are exempt from ABSD, making the property more affordable for this cohort. Buyers upgrading from an existing HDB to a larger unit must factor the ABSD cost into their financial planning, as it substantially impacts the effective purchase price and financing requirements. Some exemptions and reliefs may apply in specific circumstances—prospective buyers should consult with the Inland Revenue Authority of Singapore (IRAS) or a tax professional to understand their individual position fully.

How does lease decay and remaining tenure affect resale value at 228 Bishan Street 23?

As an HDB property, units at 228 Bishan Street 23 are typically held on a 99-year lease tenure from the date of construction. The remaining lease on any unit is a critical factor influencing resale value and financing options—buyers should verify the exact remaining tenure before purchase, as flats with leases below 60 years may encounter financing constraints and valuation compression. Financial institutions typically impose stricter lending criteria as lease durations fall below 70 or 80 years, and buyers should anticipate that properties with very short remaining leases (below 30 years) may become increasingly difficult to finance or sell. The HDB does offer lease top-up schemes that allow leaseholders to extend their tenure, though this involves additional cost and administrative process. For properties with substantial remaining lease duration (above 80 years), lease decay risk is minimal over a typical 10 to 20-year holding period, and this should not materially impair capital appreciation or marketability.

How does proximity to Bishan MRT Station influence capital appreciation and rental demand for this development?

The 11-minute walk to NS17 Bishan MRT Station positions 228 Bishan Street 23 within the primary catchment for the station, a critical factor driving both capital appreciation and rental demand in Singapore's property market. Properties within 800 to 1,000 metres of major MRT stations typically command valuations 8% to 15% higher than comparable properties in the same estate but further from transit hubs. This MRT proximity supports sustained rental demand from professionals, students, and expatriate families seeking convenient commuting options to the city centre and other employment hubs served by the North-South Line. Over medium to long-term holding periods, the relative scarcity of well-connected HDB supply in Bishan suggests that capital appreciation will likely exceed inflation, driven partly by the enduring appeal of proximity to reliable public transport. Any future enhancements to the North-South Line or connections to other transit corridors would further amplify the appreciation potential of this location.

Is 228 Bishan Street 23 suitable for first-time HDB buyers?

Yes, 228 Bishan Street 23 represents an excellent option for first-time HDB buyers seeking entry into the property market with meaningful space and strong connectivity. First-time buyers benefit from exemption from ABSD, making the effective purchase cost significantly lower than for investors or upgraders—this exemption can translate to S$180,000 or more in direct cost savings on units in this price range. The spacious configurations available, reaching 1,119 square feet in three-bedroom layouts, provide growing families with adequate room to expand without requiring early upgrading. The established Bishan estate offers stable neighbourhoods, proven infrastructure, and comprehensive amenities that appeal to young families and working professionals. Financial institutions actively offer competitive financing terms for first-time HDB purchases, and HDB grants and schemes may further enhance affordability. For first-timers balancing the desire for space, connectivity, and value for money, this development merits serious consideration within the broader HDB market.

What is the TDSR headroom and financing accessibility for typical purchase prices at this development?

Units at 228 Bishan Street 23 priced around S$899,999 can typically be financed with a maximum loan-to-value (LTV) ratio of 85% under standard HDB mortgage terms, implying a loan amount of approximately S$764,999 and a downpayment of S$135,000. Monthly mortgage payments on a 25-year loan tenor at prevailing HDB mortgage rates would approximate S$3,800 to S$4,200, depending on interest rate assumptions. The Total Debt Service Ratio (TDSR) framework limits monthly debt obligations to 60% of gross monthly household income—a buyer with household income of approximately S$7,000 per month would have sufficient TDSR headroom to service this mortgage alongside other commitments. First-time buyers may benefit from HDB housing grants up to S$80,000, which effectively reduces the required downpayment and improves financing flexibility. Prospective buyers should engage directly with HDB or financial institutions to model their specific scenarios, accounting for their household income profile, existing debt obligations, and available grants or subsidies.

How does 228 Bishan Street 23 compare to competing HDB developments in neighbouring estates?

Bishan has historically commanded premium valuations relative to more distant estates, reflecting its superior connectivity, mature infrastructure, and comprehensive amenities network. Comparable three-bedroom units in adjacent estates such as Thomson or Ang Mo Kio may offer similar floor areas at modestly lower absolute prices, though these locations typically involve longer commute times to the city centre or premium employment zones. The 11-minute MRT walk at 228 Bishan Street 23 is significantly shorter than alternatives in more peripheral estates, justifying a valuation premium. Within the Bishan estate itself, newer HDB blocks or those on premium sites may command higher per-square-foot pricing, though 228 Bishan Street 23 offers competitive value given its MRT proximity and location within a fully developed precinct. Buyers comparing across developments should evaluate the totality of value—combining purchasing price, space, connectivity, and amenity offerings—rather than price alone. For buyers prioritising accessibility and established infrastructure, 228 Bishan Street 23 remains attractively positioned.

Which unit stacks or floor levels at 228 Bishan Street 23 offer the best value?

Mid-level unit stacks (typically floors 7 to 15) often represent the optimal value proposition in HDB developments, balancing premium positioning with reasonable pricing relative to high-floor units. Low-rise flats (floors 1 to 3) may trade at modest discounts but typically experience lower demand due to privacy concerns and pedestrian noise. High-floor units (20th floor and above, where available) command premium valuations driven by reduced noise exposure, enhanced views, and perceived status. Within the mid-range, units positioned in interior stacks (not corner or facing major roads) occasionally trade at modest discounts relative to premium stacks, offering astute buyers value if they prioritise rental yield and capital appreciation over specific unit position. Buyers should examine historical transaction evidence for the specific block at 228 Bishan Street 23 to identify any consistent discrepancies in pricing by floor or stack, as these represent opportunities to negotiate advantageous entry prices. The valuation differential between floor levels in an HDB block typically ranges from 5% to 12%, meaning savvy purchasing decisions can create meaningful value capture.

What future supply developments or estate rejuvenation plans could affect 228 Bishan Street 23's value trajectory?

The Bishan estate has a mature, largely completed supply pipeline, suggesting that near-term new HDB supply within the immediate area will remain limited. This supply constraint typically supports capital appreciation, as increased demand meets a relatively fixed asset base. However, the Housing and Development Board periodically undertakes estate rejuvenation initiatives including façade upgrades, infrastructure improvements, and amenity enhancements that can materially boost property valuations and quality of life. Any major estate-wide rejuvenation at Bishan (similar to initiatives completed in other mature estates) would likely create a positive revaluation impulse for all properties in the development. Conversely, the broader Singapore property market faces ongoing supply pressures from new launches and estate developments in emerging areas such as Kallang-Rochor, which could theoretically dilute demand for older estates—though established locations like Bishan with superior connectivity typically prove resilient. Buyers should monitor URA Master Plan revisions and HDB announcements regarding estate rejuvenation initiatives, as these can materially impact medium-term appreciation potential and quality of life indicators at 228 Bishan Street 23.

[For Sale] Hdb Flat At 228 Bishan Street 23 — From S$900K