Type

Units

Min Area

Price Range

3 BR

1302 sqft

S$650K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$650K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$130K on this acquisition.
Located 10 min (850 m) from NS13 Yishun 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.

232 Yishun Street 21: A Mature HDB Development in One of Singapore's Most Established Neighbourhoods

232 Yishun Street 21 stands as a well-regarded Housing and Development Board property situated in the heart of Yishun, one of Singapore's longest-established residential precincts. This development comprises housing units across multiple storeys, offering practical layouts and generous floor areas that appeal to a broad spectrum of buyers ranging from first-time upgraders to seasoned investors. The project benefits from its location in a neighbourhood that has matured over decades, creating a stable property market characterised by consistent demand and reliable capital appreciation.

The development is positioned approximately 850 metres from NS13 Yishun MRT Station, translating to roughly 10 minutes of walking distance. This proximity to the North-South Line provides residents with seamless connectivity to central Singapore, making the location particularly attractive for commuters and families who value access to employment hubs, educational institutions, and leisure destinations across the island. The mature public transport infrastructure in this area has contributed significantly to the neighbourhood's appeal and resilience as a residential investment destination.

Layout, Space, and Configuration

Units within this development typically feature three-bedroom, two-bathroom configurations spread across approximately 1,302 square feet of internal space. This generous floor plate is characteristic of HDB flats designed to accommodate families comfortably whilst maintaining efficient use of space. The scale of these units positions them well within the mid-range of the HDB resale market, offering sufficient square footage to justify premium pricing whilst remaining accessible to upgraders transitioning from smaller two-bedroom accommodation. The standardised layout across multiple stacks within the development creates predictable resale liquidity, as potential buyers understand the floorplan and living experience before viewing.

Pricing and Market Position

Current asking prices for units in this development commence from approximately S$650,000, positioning the development competitively within the Yishun HDB resale landscape. This price point reflects several factors including the maturity of the neighbourhood, the convenience of the MRT station, and the consistent demand for three-bedroom family units in this location. Recent comparable transactions in Yishun have demonstrated per-square-foot valuations ranging between S$490 and S$520 per sqft for similar configurations, suggesting that units at 232 Yishun Street 21 offer fair market value relative to the broader district. The pricing remains considerably more affordable than newer HDB developments further from the city centre, whilst offering significantly superior location convenience compared to peripheral estates.

Investment Potential and Rental Yield Characteristics

From an investment perspective, 232 Yishun Street 21 presents compelling rental yield opportunities for buyers seeking recurring income streams. The Yishun precinct attracts a steady flow of rental tenants including young professionals, expatriates on limited tenures, and families relocating within Singapore. Three-bedroom units in this location typically achieve monthly rental rates between S$2,800 and S$3,200 depending on precise floor level and unit condition, translating to annual gross yields of approximately 5% to 5.8% at the lower end of the current asking price range. These yields compare favourably to the broader Singapore HDB resale market and reflect the neighbourhood's inherent appeal to tenants seeking mature, well-connected locations at reasonable rental price points.

MRT Station Proximity and Connectivity

The 10-minute walk to Yishun MRT Station positions this development as exceptionally convenient for daily commuting and leisure travel. The North-South Line serves as one of Singapore's busiest and most established rapid transit corridors, providing direct connections to the Marina Bay, Orchard Road, and Jurong East precincts within 20 to 35 minutes. This level of connectivity has historically supported sustained demand for HDB properties in Yishun, as the neighbourhood avoids the premium pricing associated with city-fringe locations whilst offering comparable transport accessibility. Property values in developments proximate to MRT stations typically demonstrate more resilience during market downturns and greater appreciation during expansion cycles, making station proximity a material factor in long-term investment outcomes.

Neighbourhood Maturity and Amenities

Yishun represents a fully matured residential ecosystem with comprehensive local amenities including schools, shopping centres, hawker facilities, polyclinics, and recreational grounds. The neighbourhood has developed organically over four decades, creating stable community infrastructure and a diverse population base. This maturity confers several advantages to property holders: amenities are established rather than speculative, transaction volumes remain consistently high, and tenant pools are broad and reliable. Unlike newer precincts where amenities may take years to materialise, Yishun offers immediate access to all essential services, enhancing both owner-occupancy appeal and rental demand characteristics.

Suitability for Different Buyer Profiles

First-time upgraders moving from two-bedroom units find 232 Yishun Street 21 particularly suitable, as the additional bedroom accommodates growing families whilst the central location reduces transport costs and time commitments. Established homeowners seeking to downsize or relocate within Singapore value the neighbourhood's stability and the assured liquidity these units provide. Property investors recognise the combination of affordable entry pricing, reliable rental demand, and consistent capital appreciation that characterises mature HDB locations with excellent MRT access. For downsizers approaching retirement, the convenience of neighbourhood amenities and public transport eliminates the need to maintain a private vehicle, reducing overall household expenditure.

Capital Appreciation and Market Resilience

Historical data demonstrates that HDB properties in Yishun have appreciated steadily over the past decade, with nominal gains averaging 2% to 3% per annum over extended holding periods. This measured appreciation reflects the neighbourhood's status as a mature, fully-occupied precinct where supply is largely fixed and demand remains consistent. Unlike peripheral estates that may experience sharp capital volatility, properties in established locations with direct MRT access tend to demonstrate more predictable long-term value trajectories. The current pricing environment, combined with the likely continuation of steady demand from both owner-occupiers and investors, suggests that 232 Yishun Street 21 remains positioned within a relatively stable and less speculative segment of the Singapore property market.

Lease Tenure Considerations

HDB properties operate under the Housing and Development Board's leasehold model, with leases commencing at 99 years from the date of original issue. Properties within this development are now several decades into their lease cycle, meaning remaining lease tenures vary depending on the precise age of individual units. Buyers should verify the exact remaining lease period before purchase, as lease decay can impact future resale eligibility and valuation. The Housing and Development Board implements policies designed to maintain older stock, including upgrading programmes and valuation frameworks that account for lease maturity. Understanding lease tenure is essential for long-term investment planning, particularly for buyers intending to hold beyond a decade or pass properties to subsequent generations.

Financing and Debt Service Considerations

Prospective buyers financing purchases at the current asking prices should anticipate Total Debt Service Ratios (TDSR) ranging between 30% and 40% of gross household income, assuming standard mortgage terms of 25 to 30 years at prevailing interest rates between 3.5% and 4.2%. First-time HDB buyers benefit from enhanced Central Provident Fund (CPF) withdrawal allowances and may access more favourable financing terms than investors purchasing second properties. Second-property buyers should factor Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% into their purchase budgets, materially increasing the cash outlay required at completion. Banks typically require minimum annual household incomes of approximately S$150,000 to S$180,000 to support financing for units at this price point, depending on existing debt commitments and property holdings.

Comparative Market Position

Within the Yishun district, 232 Yishun Street 21 competes with other mature HDB developments including properties in adjacent streets and blocks. The primary competitive advantages centre on the consistent building condition, the proximity to MRT transport, and the reliable rental demand these larger, three-bedroom units generate. Newer Build-to-Order (BTO) HDB developments in peripheral locations offer lower acquisition prices but require significantly longer travel times to central Singapore, making established locations like Yishun increasingly attractive to time-conscious households. Developments closer to city-fringe locations command premium pricing that frequently exceeds per-square-foot valuations observed in Yishun, suggesting that buyers prioritising location convenience at moderate prices find genuine value in established neighbourhoods such as this.

Future Supply and Market Dynamics

The HDB resale market in Yishun is unlikely to experience significant new housing supply, as mature estates are characterised by limited land availability for new development. Instead, supply is largely determined by voluntary seller activity and household migration patterns. This constrained supply environment, combined with steady demographic demand from upgraders and investors, typically supports gradual capital appreciation and resilient rental demand. The Housing and Development Board's policy focus on managing older stock through targeted upgrading rather than large-scale redevelopment suggests that properties in established locations like Yishun will retain appeal for decades to come.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at 232 Yishun Street 21 as an investment property?

Three-bedroom units at 232 Yishun Street 21 typically achieve monthly rental rates between S$2,800 and S$3,200, depending on floor level, unit condition, and tenant profile. At the current asking price range commencing from S$650,000, this translates to gross annual yields of approximately 5% to 5.8%, representing competitive returns within the HDB resale investment segment. Yishun's mature neighbourhood status, established amenities, and proximity to MRT transport create steady tenant demand across multiple demographic segments, including young professionals, expatriates, and relocating families. Net yields after accounting for property tax, insurance, and maintenance typically range between 3.8% and 4.5%, which compares favourably to alternative fixed-income investments whilst offering capital appreciation upside.

How does the per-square-foot pricing at 232 Yishun Street 21 compare to recent transactions in the broader Yishun area?

Recent comparable transactions for three-bedroom HDB units in Yishun have demonstrated per-square-foot valuations ranging between S$490 and S$520, with variations reflecting specific unit conditions, floor levels, and lease decay status. At the current asking price of S$650,000 for approximately 1,302 square feet, the per-square-foot valuation sits at approximately S$499, positioning 232 Yishun Street 21 competitively within the district's established price range. This valuation reflects fair market value relative to comparable sized units in the neighbourhood whilst accounting for the convenience of the 10-minute walk to NS13 Yishun MRT Station. Transactions completed in the past 12 months suggest pricing stability with modest appreciation, indicating that units at this development are not overvalued relative to the broader Yishun market.

What Additional Buyer's Stamp Duty implications should I consider if this is my second residential property purchase?

Second-property buyers who are Singapore Citizens are subject to Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price. For a purchase at S$650,000, ABSD would amount to S$130,000, materially increasing the total cash outlay required at completion. This duty applies on top of standard conveyancing costs and the buyer's stamp duty, effectively raising the total acquisition cost to approximately S$695,000 to S$710,000 when all transaction fees are included. ABSD significantly impacts investment property returns, as it must be recouped through capital appreciation or rental income over the holding period before the investment generates positive returns. Buyers should carefully model long-term cash flow implications and ensure that projected rental yields and capital appreciation justify the additional 20% ABSD cost on second property acquisitions.

What is the lease tenure of units at 232 Yishun Street 21 and how does lease decay affect resale value?

232 Yishun Street 21 comprises HDB properties originally granted with 99-year leases commencing from the date of original allocation, which for a development of this age means remaining lease tenures typically range between 70 and 85 years depending on the specific age of individual units. As properties approach lease mid-life, the Housing and Development Board implements policies and upgrading programmes designed to maintain stock condition and manage lease decay impact. Lease decay does gradually influence resale valuations and financing eligibility: properties with remaining leases below 60 years experience increased resale difficulty and reduced financing availability, and those below 30 years become challenging to sell or finance. Buyers purchasing units with remaining leases in the 70 to 85-year range should expect the property to retain substantial value for the next 20 to 30 years, making it suitable for most owner-occupancy and medium-term investment horizons.

How does proximity to NS13 Yishun MRT Station affect property demand and capital appreciation potential?

The 10-minute walking distance to NS13 Yishun MRT Station is a material positive factor supporting both rental demand and capital appreciation for units at 232 Yishun Street 21. Historical data demonstrates that HDB properties within 800 metres of MRT stations command consistent tenant interest and experience more resilient valuations during market downturns compared to less transit-accessible locations. Yishun MRT Station provides direct access to the North-South Line, connecting residents to Central Business District employment hubs, shopping precincts, and educational institutions within 20 to 35 minutes, significantly reducing household transport costs and commute times. Properties at this development have historically appreciated at rates 0.5% to 1% per annum faster than comparable HDB units in peripheral locations without direct MRT access, demonstrating that transport convenience translates into measurable value premiums over extended holding periods.

Is 232 Yishun Street 21 suitable for first-time HDB buyers upgrading from smaller units?

Yes, 232 Yishun Street 21 is particularly well-suited for first-time upgraders transitioning from two-bedroom units to three-bedroom accommodation. The additional bedroom accommodates growing families and provides flexibility for home offices, whilst the 1,302 square foot footprint is substantially larger than typical two-bedroom units without requiring first-time buyers to stretch pricing expectations into premium neighbourhoods. First-time HDB buyers benefit from enhanced Central Provident Fund (CPF) withdrawal allowances that can reduce financing requirements and accelerate property acquisition timelines. The mature neighbourhood's established amenities, schools, and community infrastructure appeal directly to upgrading families seeking stability and comprehensive local services rather than speculative appreciation. Pricing at this development remains accessible to households with annual incomes between S$100,000 and S$180,000, making it financially achievable for professional couples and established families without requiring premium household incomes.

What financing capacity and TDSR headroom should I anticipate at current pricing for this development?

At the current asking price commencing from S$650,000, buyers should expect Total Debt Service Ratios (TDSR) to consume between 30% and 40% of gross household income assuming standard 25 to 30-year mortgage terms at prevailing interest rates between 3.5% and 4.2%. This implies minimum household income requirements of approximately S$155,000 to S$180,000 annually to secure financing without exceeding TDSR limits, depending on existing debt commitments and liabilities. Most major Singapore banks require debt-to-income ratios not exceeding 60%, meaning households with total existing debts exceeding S$36,000 to S$48,000 may need to demonstrate higher gross incomes to qualify for financing at these price points. First-time HDB buyers typically receive more favourable lending terms and higher LTV ratios (up to 90%) compared to second-property investors, who may encounter stricter lending criteria and requirements to provide larger cash deposits. Buyers should engage banks early in the acquisition process to confirm financing eligibility and identify any constraints that might arise from existing debt commitments or CPF withdrawal limitations.

How does 232 Yishun Street 21 compare to competing HDB developments in the Yishun district and nearby neighbourhoods?

Within Yishun itself, 232 Yishun Street 21 competes with other mature HDB developments across adjacent streets and blocks, with competitive differentiation based on building condition, precise MRT proximity, and rental demand characteristics. Comparable Yishun developments achieve similar per-square-foot valuations (S$490 to S$520) and rental yields (5% to 5.8%), indicating market-driven pricing consistency across the neighbourhood. Properties in peripheral HDB locations such as Nee Soon and Woodlands offer lower acquisition prices (S$520,000 to S$600,000) but require 20 to 30 minutes additional commuting to central Singapore, offsetting modest price savings through higher transport costs. In contrast, city-fringe HDB locations such as Ang Mo Kio and Bukit Panjang command premium valuations (S$550 to S$580 per sqft) that exceed Yishun pricing despite offering only modestly improved transport convenience. 232 Yishun Street 21 represents optimal value for buyers balancing affordability with location accessibility, occupying the sweet spot between peripheral affordability and city-fringe premium pricing.

Are specific unit stacks or floor levels at this development likely to offer superior value than others?

Within 232 Yishun Street 21, mid-level units (floors 3 to 8) typically offer superior value relative to ground floor and penthouse units, balancing premium pricing with practical ownership considerations. Ground floor units often command 5% to 8% discounts due to reduced privacy and increased pedestrian foot traffic, making them attractive for investors prioritising rental yield over occupancy appeal. Mid-level units generally achieve optimal rental rates as tenants value the security and light access these floors provide without the premium pricing associated with high-floor units. Lower-middle floors (3 to 5) frequently represent the best value in terms of price-per-floor premium, offering improved privacy and light compared to ground floor units at only modest price increments of 2% to 4% per floor. High-floor units (above floor 15) command substantial premiums, typically 8% to 15% above mid-level comparables, reflecting expanded views and perceived exclusivity that may not translate into improved rental yields sufficient to justify the acquisition cost for investment-focused buyers.

What future supply dynamics and market outlook should I consider for HDB properties in the Yishun district?

Yishun, as a fully mature HDB estate, faces severely constrained future housing supply, as the neighbourhood is essentially built-out with limited available land for new development. The Housing and Development Board's policy emphasis has shifted from large-scale new estate development to targeted upgrading programmes for older stock, suggesting that properties in Yishun will remain in fixed supply for decades. This constrained supply environment, combined with continuing demographic demand from upgraders and investors relocating within Singapore, typically supports gradual but measurable capital appreciation of 2% to 3% per annum over extended holding periods. Yishun is increasingly recognised as an established, stable neighbourhood offering mature amenities and reliable returns, particularly as younger buyer cohorts seek alternatives to speculative newer developments. Older Build-to-Order (BTO) releases in peripheral locations may occasionally exert modest downward pressure on Yishun valuations, but this effect is typically temporary and outweighed by the neighbourhood's inherent location convenience and transport accessibility advantages.

[For Sale] Hdb Flat At 232 Yishun Street 21 — From S$650K