Type

Units

Min Area

Price Range

3 BR

904 sqft

S$668K – S$808K

Property Highlights

HDB development with 3 units currently available.
Prices currently range from S$668K to S$808K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$134K on this acquisition.
Located 10 min (830 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.

123 Bishan Street 12: Bishan's Established HDB Neighbourhood

123 Bishan Street 12 represents a well-established public housing development in one of Singapore's most vibrant residential districts. Situated in the heart of Bishan, this HDB project offers buyers access to a mature neighbourhood characterised by solid community infrastructure, reliable transport links, and a proven track record of stable property values. The development caters to a broad spectrum of buyers, from first-time upgraders to families seeking additional space and established neighbourhoods with generational roots.

The location's defining strength lies in its proximity to NS17 Bishan MRT Station, positioned just 10 minutes away on foot—a distance that makes daily commuting seamless for professionals working across Singapore's major business districts. The North-South Line provides direct connectivity to the Marina Bay financial centre, the CBD corridor, and northern employment zones, eliminating the need for transfers and reducing travel fatigue for working households. This accessibility has historically supported consistent demand for properties in the Bishan corridor and underpinned strong resale market activity.

Unit Configuration and Living Space

Properties within this development typically feature three-bedroom and two-bathroom configurations, providing approximately 900 square feet of living space per unit. This generous floor area allows for flexible room arrangements, accommodating home offices, guest facilities, or additional storage—practical considerations for modern households juggling work-from-home arrangements with family life. The spatial layout reflects HDB design standards optimised for functionality and practical living, with living areas, kitchen facilities, and sleeping quarters carefully proportioned for everyday comfort.

Bishan's Mature Neighbourhood Appeal

Bishan has evolved into one of Singapore's most desirable HDB districts, attracting multi-generational households and young families alike. The neighbourhood boasts established primary and secondary schools, including several top-performing institutions, making it particularly appealing to buyers with children. Shopping facilities are plentiful, ranging from the Bishan Shopping Centre and Junction 8 mall to neighbourhood wet markets and hawker centres serving residents with daily essentials and dining options. Community amenities including parks, sports facilities, and polyclinics are integrated throughout the precinct, reflecting decades of thoughtful urban planning and infrastructure investment.

Transport and Connectivity

The NS17 Bishan MRT Station serves as a crucial transport hub, connecting residents to employment, education, and entertainment destinations across the island. Morning commutes to Marina Bay, Orchard, or central business districts take 15–25 minutes, positioning Bishan as an ideal base for professionals seeking reasonable travel times without sacrificing neighbourhood character. Beyond the MRT, the area benefits from extensive bus routes and is well-positioned for car owners, with good road access to expressways serving the rest of Singapore.

Pricing and Market Context

Properties at 123 Bishan Street 12 are positioned at competitive market rates reflective of the development's age, location, and amenities. Current listings show asking prices from S$800,000, though actual transaction prices and available stock vary as units change hands in the resale market. Prospective buyers should expect typical HDB resale market dynamics, including inspection-to-offer timelines of two to four weeks, the involvement of HDB resale agents, and the standard processing requirements through HDB's resale portal. Comparable transactions in nearby Bishan addresses have consistently demonstrated healthy price-per-square-foot metrics, supporting the development's position as a sound investment within the district's residential ladder.

Investment and Rental Potential

For investors considering this development as a rental proposition, Bishan's strong tenant demand—driven by young professionals, expatriates, and small families—provides reliable occupancy potential. Conservative rental yield estimates for three-bedroom HDB flats in mature Bishan locations typically range between 2.5% and 3.5% gross annual yield, depending on exact floor level, unit condition, and prevailing market conditions. The stable demographic demand, proximity to the MRT, and established amenity base support sustained rental interest, though investors should factor in HDB's Approved Tenant scheme requirements and rental restrictions on newer builds.

Lease and Resale Considerations

As an HDB property, 123 Bishan Street 12 carries a 99-year lease from its original construction date. Buyers should be mindful that properties with remaining lease terms below 60 years may face financing challenges and potential resale headwinds, as most financial institutions tighten loan-to-value ratios and some buyers may opt for newer developments with longer tenures. Prospective purchasers are advised to clarify the exact remaining lease period during the viewing stage and factor any future lease decay into their long-term holding strategy. HDB's lease extension scheme exists, but remains a separate process with specific eligibility criteria and costs.

Buyer Profiles and Suitability

First-time upgraders stepping up from smaller flats will find the three-bedroom configuration a natural progression, offering space for growing families without the quantum leap to private property. Young professionals seeking a mature neighbourhood with strong MRT connectivity and a lower entry price than private housing will appreciate Bishan's proven credentials. Families with school-aged children benefit from the district's established educational options and community networks. Investors exploring the HDB resale market will find Bishan's fundamental demand drivers—central location, transport accessibility, and stable demographics—supportive of capital preservation and moderate rental returns.

Financing and ABSD Implications

For first-time buyers, 123 Bishan Street 12 offers a pathway into homeownership with standard HDB financing terms and potentially enhanced CPF withdrawal provisions. Second-property buyers must account for the Additional Buyer's Stamp Duty at 20% on top of the purchase price, a significant cost that reshapes affordability calculations and investment returns. A property priced at S$800,000 would incur approximately S$160,000 in ABSD alone, elevating total acquisition costs materially and requiring careful financial structuring. Financing headroom analysis should assume typical debt servicing ratios of 35% for HDB properties, meaning buyers should ideally have monthly household incomes of approximately S$9,500–S$10,500 to comfortably service loans on units at this price level, accounting for interest rate movements and other existing obligations.

Comparative Market Position

Within the broader Bishan HDB landscape, 123 Bishan Street 12 competes alongside other resale developments such as nearby Bishan Street flats, Lorong Lew Lian blocks, and Ang Mo Kio boundary properties. Pricing gradations across Bishan reflect floor levels, facing aspects, unit layouts, and remaining lease terms, with properties commanding premiums for higher floors, better light, and longer lease tenures. Prospective buyers should conduct comparative inspections across the neighbourhood to calibrate value, as seemingly similar units can vary significantly in condition, renovation, and perceived livability.

Future District Developments and Supply

Bishan's future pipeline is dominated by private residential projects and limited HDB infill development, suggesting relatively stable supply dynamics for existing HDB stock. The broader Central region—encompassing Bishan, Ang Mo Kio, and Serangoon—continues to attract urban planners' focus for mixed-use rejuvenation, though these initiatives primarily influence private sector investment rather than HDB supply directly. Buyers should monitor any district-level infrastructure announcements or MRT enhancements, which could amplify demand and support capital appreciation, though large-scale new HDB supply in Bishan is unlikely given land constraints and the prevalence of established neighbourhoods.

Frequently Asked Questions

What gross rental yield can investors expect from three-bedroom units at 123 Bishan Street 12?

For three-bedroom HDB flats in Bishan's mature location, conservative gross rental yield estimates typically fall between 2.5% and 3.5% per annum, depending on unit condition, floor level, and the prevailing rental market at the time of letting. Bishan's strong tenant demand—driven by young professionals, expatriate families, and upgraders seeking established neighbourhoods—underpins reliable occupancy rates, though actual yields vary based on lease duration and the specific rental conditions negotiated with tenants. Investors should factor in HDB's Approved Tenant scheme requirements, which mandate registration of all rental arrangements with HDB, alongside rental restrictions on properties sold within five years of initial purchase (though 123 Bishan Street 12's established status typically exempts it from such restrictions). Conservative financial modelling should assume mid-range yields of approximately 3%, which translates to rough annual rental returns of S$24,000–S$28,000 on a S$800,000 purchase, before accounting for property taxes, maintenance, and potential landlord costs.

How does pricing per square foot for 123 Bishan Street 12 compare to recent transactions in Bishan?

At approximately S$800,000–S$900,000 for typical three-bedroom units of 900 square feet, this development achieves a price-per-square-foot range of S$890–S$1,000, positioning it competitively within Bishan's established HDB resale market. Recent comparable transactions in nearby Bishan Street addresses and adjacent blocks have demonstrated broadly similar pricing trajectories, reflecting the neighbourhood's consistent desirability and transport-led demand. Prices in Bishan vary materially by remaining lease duration, with properties above 70 years of remaining tenure commanding premiums versus those approaching 60-year thresholds, so buyers should verify remaining lease when calibrating value against comparable sales. The price-per-square-foot metric in Bishan has remained relatively stable over the past two to three years, suggesting limited speculative volatility and reflecting the measured, demand-driven nature of the mature HDB resale market in this district.

What is the Additional Buyer's Stamp Duty (ABSD) impact for second-property buyers purchasing at 123 Bishan Street 12?

Second-property buyers who are Singapore Citizens will incur Additional Buyer's Stamp Duty at a rate of 20% on top of the property's purchase price, a material cost that fundamentally reshapes acquisition economics and financing requirements. On a S$800,000 purchase, ABSD liability amounts to approximately S$160,000, elevating total acquisition costs (inclusive of standard stamp duty, legal fees, and agent commissions) to roughly S$200,000–S$220,000 before factoring in renovation or refurbishment. This 20% ABSD rate applies to all residential properties purchased as a second home by Singapore Citizens, regardless of whether the first property was sold, making this a pivotal cost consideration for upgraders or investment-focused buyers. Buyers should structure their purchasing timeline carefully, as ABSD is payable upon completion, requiring substantial cash reserves or refinancing arrangements; engaging a mortgage broker early in the process is advisable to ensure financing packages accommodate the elevated total acquisition burden.

What lease decay risk exists for 123 Bishan Street 12, and how does this affect resale value?

As an HDB property with a 99-year lease from construction, 123 Bishan Street 12's remaining tenure depends on its exact completion date; buyers must verify the precise lease commencement to calculate years remaining. Properties with remaining lease periods below 60 years begin to encounter financing headwinds, as most financial institutions tighten loan-to-value ratios and some buyers may be reluctant to purchase properties where residual lease may decline further during their ownership period. Resale value erosion accelerates markedly once remaining lease drops below 50 years, as the pool of eligible buyers (particularly those seeking bank financing) contracts significantly, potentially reducing liquidity and requiring price reductions to achieve sales. Prospective buyers should seek HDB's confirmation of remaining lease tenure during the viewing stage and factor any potential future lease extension costs into their purchase calculus; whilst HDB's lease extension scheme exists, it requires specific eligibility criteria and incurs separate costs, and is typically exercised only when lease decay becomes imminent.

How does proximity to NS17 Bishan MRT Station influence demand and capital appreciation potential for 123 Bishan Street 12?

The NS17 Bishan MRT Station, located just 10 minutes' walk away, anchors demand for this development by providing seamless commuting to Marina Bay, the CBD, and northern employment nodes without requiring transfers or extended travel times. Transport accessibility remains the single most powerful demand driver in Singapore's HDB market, and Bishan's established North-South Line connectivity has historically supported consistent property appreciation and strong resale activity relative to more peripheral neighbourhoods. The MRT proximity creates a stable tenant pool for investors, as young professionals and families prioritise commute convenience; this transport-led demand tends to weather market cycles better than speculative, trend-driven demand in newer developments. Future MRT enhancements or station upgrades in the Bishan corridor could amplify this advantage further, though announcements remain uncertain; nevertheless, the existing, proven connectivity provides a strong fundamentals case for long-term capital stability and moderate appreciation aligned with broader Singapore HDB market trends.

Which buyer profiles are best suited to 123 Bishan Street 12, and why?

First-time upgraders progressing from two-bedroom flats to three-bedroom configurations will find 123 Bishan Street 12 an ideal stepping stone, offering expanded family living space within an established neighbourhood at HDB price points significantly lower than private housing. Young professionals and small families prioritising commute convenience and neighbourhood maturity will appreciate Bishan's central location, MRT accessibility, and proven community amenities without paying private property premiums. Investors exploring the HDB resale market can leverage this development's stable rental demand (underpinned by transport accessibility and established schools) alongside moderate acquisition costs to generate steady, unspectacular but reliable returns; the mature status typically exempts older blocks from rental restrictions, widening tenant pools. Families with school-aged children benefit substantially from Bishan's established primary and secondary institutions, strong community networks, and parks, making this an ideal base for multi-generational households seeking long-term stability rather than rapid capital appreciation.

What TDSR and financing headroom considerations apply to 123 Bishan Street 12 at typical price points?

For an S$800,000 purchase, standard HDB financing assumptions suggest buyers require monthly household incomes of approximately S$9,500–S$10,500 to service loans comfortably under the HDB's 35% Total Debt Servicing Ratio (TDSR) ceiling, accounting for existing car loans, credit cards, or other personal debt. Most financial institutions offer loan tenures of 25–30 years for HDB resale properties, translating to monthly mortgage payments of roughly S$3,300–S$3,700 at current interest rates (assuming 60% loan-to-value and interest rates around 3.5%–4.0% per annum). First-time buyers can enhance their financing capacity by claiming enhanced CPF withdrawal provisions, potentially allowing withdrawal of additional CPF funds to boost down payment reserves and reduce loan quantum. Prospective buyers should engage mortgage brokers early to stress-test financing scenarios, factoring in potential interest rate rises and ensuring sufficient headroom for life contingencies; many lenders now assume interest rates could rise to 4.5%–5.0%, making rigorous affordability testing essential before committing to purchase.

How does 123 Bishan Street 12 compare to competing HDB developments in the broader Bishan area?

Within the Bishan HDB landscape, 123 Bishan Street 12 competes against other established resale blocks such as nearby Bishan Street addresses, Lorong Lew Lian developments, and properties bordering Ang Mo Kio—each offering similar three-bedroom configurations but varying in floor levels, lease remaining, and unit condition. Pricing gradations across Bishan reflect these quality differentiators, with properties commanding premiums for higher floors (offering better light and ventilation), better-facing aspects (avoiding main road noise), and longer remaining lease tenures (reducing future financing constraints). Properties in Bishan's most established pockets tend to achieve slightly higher price-per-square-foot metrics than peripheral blocks, reflecting the concentration of amenities, schools, and MRT proximity in the core neighbourhood areas. Buyers are advised to conduct comparative site visits across multiple addresses in the vicinity to calibrate perceived value, as two seemingly identical three-bedroom units can differ substantially in renovation quality, facing aspects, and neighbourhood character.

Which unit stack or floor levels within 123 Bishan Street 12 offer best value for different buyer profiles?

Lower-floor units (typically storeys two to four) command price discounts of 5%–10% relative to mid-to-higher floors, primarily reflecting reduced natural light, ventilation, and proximity to street noise; these discounts create value opportunities for budget-conscious upgraders or investors seeking higher gross rental yields, though some buyer segments (families with young children, elderly households) may find lower floors less appealing due to security and accessibility concerns. Mid-level units (storeys five to eight) typically represent the sweet spot for general buyer appeal, balancing light, privacy, and affordability at or near market-average prices; these properties command steady demand from families and upgraders, supporting reliable resale potential. Higher-floor units (storeys nine and above, if the building permits) attract premiums of 10%–15%, appealing to buyers prioritising views, light, and prestige; investors may find higher-floor units support slightly elevated rental premiums among tenant pools, though the appreciation upside is often already priced into listing expectations. Investors seeking value should focus on lower-mid floor units in decent condition, as these balance acquisition cost, maintenance durability, and rental appeal without overpaying for prestige or light premiums that don't proportionately enhance yields.

What does the future supply pipeline in Bishan and the Central region suggest about 123 Bishan Street 12's long-term appreciation potential?

Bishan's future pipeline is dominated by private residential projects (such as new launch developments in adjacent precincts) and limited HDB infill development, suggesting relatively constrained supply growth for established HDB stock and supporting stable, long-term property fundamentals. The broader Central region (encompassing Bishan, Ang Mo Kio, and Serangoon) continues to attract urban planners' focus for mixed-use rejuvenation and transport-oriented development, though these initiatives primarily benefit private sector investment rather than increasing HDB supply directly. Large-scale new HDB supply is unlikely in Bishan proper given land constraints and the prevalence of established neighbourhoods, meaning existing HDB stock like 123 Bishan Street 12 faces limited competition from new public housing launches in the immediate vicinity. Future MRT enhancements, district-level infrastructure upgrades, or amenity additions (new schools, community centres, parks) could amplify demand and capital appreciation, though meaningful appreciation should be calibrated as moderate (2%–3% annually) rather than spectacular, reflecting the maturity of the neighbourhood and the relatively stable nature of HDB resale market dynamics in established districts.

Hdb Flat At Bishan Street 12 — From S$668K