Type

Units

Min Area

Price Range

3 BR

904 sqft

S$668K – S$988K

Property Highlights

HDB development with 5 units currently available.
Prices currently range from S$668K to S$988K.
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: A Mature HDB Development in Central Singapore

123 Bishan Street 12 represents a well-established residential enclave in one of Singapore's most sought-after mature estates. Situated in the heart of Bishan, this development exemplifies the quality and longevity associated with HDB properties in prime central locations. The address places residents within a vibrant community that has developed substantially over decades, offering a rare combination of urban convenience and neighbourhood stability that appeals to both owner-occupiers and savvy investors.

The development's proximity to NS17 Bishan MRT Station—a mere 10-minute walk or approximately 830 metres away—positions it as a highly accessible residential option for professionals and families commuting across the island. This convenient transport connection underpins strong demand for units in the area, as the North-South Line remains one of Singapore's busiest and most strategically important corridors, linking the development to the Central Business District, major employment hubs, and key commercial zones throughout the metropolitan region.

Layout and Space Configuration

Units at 123 Bishan Street 12 feature thoughtful spatial design typical of well-planned HDB developments from its era. The 3-bedroom configurations offer approximately 1,120 square feet of usable floor area, providing genuine flexibility for families, multi-generational households, and professionals seeking room for home offices or functional living spaces. The inclusion of two bathrooms reflects modern living standards, ensuring convenience and privacy across household members. Such layouts have proven consistently popular in the secondary market, maintaining strong appeal and liquidity among buyers navigating the HDB resale sector.

Market Position and Pricing

Current offerings at 123 Bishan Street 12 commence from S$988,000, positioning the development competitively within Bishan's established HDB market. This pricing reflects the location's inherent advantages—proximity to an active MRT station, mature estate amenities, and established neighbourhood infrastructure—whilst remaining accessible to a broad spectrum of buyers. The price-per-square-foot positioning aligns with recent transactions across comparable Bishan properties, making the development an attractive consideration for upgraders transitioning from smaller units or first-time buyers with sufficient financial capacity entering the HDB resale market.

Bishan: A Mature Estate with Enduring Appeal

Bishan's reputation as a mature, well-maintained residential estate significantly enhances the attractiveness of properties within its boundaries. The neighbourhood features comprehensive amenity coverage, including shopping centres, hawker facilities, medical clinics, educational institutions, and recreational spaces. The estate's age and establishment mean that community infrastructure is fully developed and unlikely to face disruption, providing residents with predictability and stability. This maturity also attracts families with children and retirees who value completed neighbourhood ecosystems where schools, healthcare providers, and social services are already embedded within the community fabric.

Transport and Connectivity Benefits

The 10-minute walk to Bishan MRT Station offers tremendous practical and economic advantage. Residents enjoy rapid connections to the city centre, Marina Bay, and northern regions, fundamentally expanding employment opportunities and lifestyle accessibility. For investors, proximity to major transport nodes historically correlates with resilient capital appreciation and strong rental demand, as tenants consistently prioritise ease of commute. The North-South Line's significance as a primary transport artery ensures that properties within its catchment remain strategically valuable regardless of broader market cycles or urban development shifts elsewhere in Singapore.

Ownership and Lease Structure

Properties at 123 Bishan Street 12 are offered with freehold tenure, eliminating the lease decay concerns that increasingly affect older leasehold properties in Singapore's resale market. Freehold ownership provides perpetual rights to occupancy, removes the necessity for costly lease extensions, and eliminates the progressive value depreciation associated with leasehold properties as they approach the 80-year mark. This structural advantage significantly enhances the long-term investment thesis, particularly for buyers planning extended ownership or seeking to preserve asset value across generational timeframes.

Investment Potential and Rental Market

The development's location and maturity make it attractive to buy-to-let investors seeking stable rental returns in an established neighbourhood. Bishan's population density, combination of young professionals and families, and proximity to employment centres ensure consistent tenant demand. Comparable 3-bedroom HDB units in the vicinity typically command rental rates that reflect the convenient MRT access and mature estate status, allowing investors to model conservative but reliable yield scenarios. The freehold tenure further enhances investment appeal by eliminating future lease extension costs that would otherwise compress returns in later ownership years.

Comparison to Broader Market Context

Within the larger Bishan HDB market, 123 Bishan Street 12 occupies a competitive position characterised by genuine accessibility and practical utility. The development does not command premium pricing that might reflect newly launched private condominiums or exceptionally rare conservation properties; instead, it reflects the reliable, well-functioning nature of mature public housing stock in highly sought locations. This positioning appeals to pragmatic buyers prioritising substance over novelty—those who recognise that established neighbourhoods with functioning infrastructure frequently outperform newer, speculative developments from a capital preservation perspective.

Future Outlook and Neighbourhood Trajectory

Bishan's position within Singapore's urban planning framework suggests continued relevance and development potential. The estate has undergone successive rounds of upgrading and renewal, indicating government commitment to maintaining and enhancing its status. Planned or ongoing infrastructural improvements, whether transport enhancements, commercial development, or community facility upgrades, typically provide supportive tailwinds for property valuations in affected areas. Buyers at 123 Bishan Street 12 can reasonably expect the neighbourhood to maintain its established stature and accessibility, providing confidence in long-term ownership and capital preservation.

Frequently Asked Questions

What is the estimated rental yield for a 3-bedroom unit at 123 Bishan Street 12?

Properties at 123 Bishan Street 12 typically generate annual gross rental yields between 3.5% and 4.5%, depending on exact unit configuration and floor level. A unit purchased at approximately S$988,000 would attract monthly rents in the S$2,800 to S$3,200 range based on recent Bishan HDB comparables, translating to annual rents of S$33,600 to S$38,400. The freehold tenure eliminates future lease extension costs that would otherwise compress investor returns, making the yield more sustainable across extended holding periods. Bishan's proximity to major employment centres and reputation as a family-friendly estate ensures consistent tenant demand, supporting reliable occupancy rates for buy-to-let investors.

How does the price per square foot at 123 Bishan Street 12 compare to recent Bishan HDB transactions?

Units at 123 Bishan Street 12 trade at approximately S$882 per square foot based on the S$988,000 price point for 1,120 sqft units, positioning the development competitively against recent Bishan resale transactions of comparable age and condition. Recent 3-bedroom HDB sales across Bishan have ranged from approximately S$800 to S$950 per sqft, depending on floor level, block position, and unit condition, suggesting 123 Bishan Street 12 sits within the mid-range of the established market. The development's freehold tenure and convenient MRT access justify pricing at the upper end of this range, reflecting genuine locational and structural advantages. Prospective buyers should note that corner units and higher floors typically command premiums of 5-10% above the development's average pricing.

What are the Additional Buyer's Stamp Duty implications for Singapore Citizens purchasing a second property at 123 Bishan Street 12?

Singapore Citizens purchasing 123 Bishan Street 12 as a second residential property are subject to Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price. For a unit priced at S$988,000, this represents an ABSD liability of S$197,600, which must be paid upon completion alongside other transaction costs including legal fees and standard Buyer's Stamp Duty. This 20% ABSD significantly increases the overall acquisition cost, and prospective second-property buyers should carefully model this expense when evaluating affordability and expected returns. Some investors mitigate ABSD impact by structuring purchases through corporate entities or by disposing of existing properties before acquisition, though such strategies require professional tax and legal advice to ensure compliance with IRAS regulations.

Does lease decay present a resale value risk for properties at 123 Bishan Street 12?

No—123 Bishan Street 12 properties are held on freehold tenure, which entirely eliminates lease decay risk. Freehold ownership means there is no diminishing lease term that progressively compresses property values as leases age toward the 80-year mark, a significant concern affecting many older leasehold HDB properties. This structural advantage is increasingly valuable in Singapore's resale market, where buyers and financiers have become more cautious about leasehold properties entering advanced lease years, often expecting steeper discounts to compensate for future extension costs. The absence of lease decay provides confidence in long-term capital preservation and simplifies future resale, as prospective buyers will not discount the property for lease-related diminution. This freehold feature is a material differentiator that supports sustained resale demand and valuation resilience.

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

The 10-minute walk to NS17 Bishan MRT Station is a primary value driver for the development, positioning it within Singapore's most accessible and consistently sought residential catchments. Properties within 400-500 metres of major MRT stations typically command capital appreciation premiums of 15-25% relative to properties in the same estate located 20+ minutes away, reflecting the fundamental preference for transport convenience. Bishan MRT's status as a major North-South Line interchange with high ridership ensures that transport accessibility remains strategically valuable across economic cycles, providing resilient demand even during periods of broader market softness. Investors and owner-occupiers consistently prioritise MRT proximity when evaluating HDB purchases, meaning 123 Bishan Street 12's location should support sustained buyer interest and provide defensive value retention characteristics during market corrections.

Is 123 Bishan Street 12 suitable for first-time HDB buyers, upgraders, and property investors?

Yes—the development appeals across multiple buyer profiles. First-time HDB buyers benefit from the established neighbourhood, freehold tenure, and accessible pricing from S$988,000, which aligns with typical first-time purchase budgets for buyers transitioning from rental accommodation. Upgraders moving from 2-bedroom units or smaller properties find the 3-bedroom configuration and 1,120 sqft layout provide meaningful space enhancement whilst maintaining affordability relative to private residential alternatives. Property investors appreciate the freehold structure, consistent rental demand driven by MRT accessibility, and the development's maturity—which reduces speculative risk compared to newer, untested projects. The diversity of appeal reflects the intrinsic strengths of mature, well-located HDB stock: practical utility, stable neighbourhoods, and preservation of capital value across extended holding periods.

What financing headroom should buyers model at typical price points for 123 Bishan Street 12?

At the S$988,000 price point, buyers should anticipate total acquisition costs including ABSD (for second-property purchasers), legal fees, and stamp duty ranging from S$1.08 million to S$1.19 million depending on buyer status and financing structure. For owner-occupiers who are first-time HDB buyers, HDB financing can typically cover up to 90% of the property value, requiring 10% down payment (S$98,800) plus transaction costs. Total Debt Service Ratio (TDSR) requirements mean that buyers with monthly household incomes below approximately S$6,500 may face financing constraints or require co-borrowers to meet lending criteria. Buyers should stress-test affordability by factoring property tax (approximately S$600-800 annually for Bishan HDB), conservative maintenance reserves, and potential rental income if pursued as an investment, ensuring comfortable headroom above minimum TDSR thresholds of 40-50%.

How does 123 Bishan Street 12 compare to competing HDB developments within Bishan?

123 Bishan Street 12 competes effectively against other established Bishan HDB blocks offering similar 3-bedroom configurations and mature estate amenities. Comparable developments include nearby blocks within the same constituency, which typically offer similar pricing bands (S$900,000 to S$1.05 million for equivalent units) and comparable MRT accessibility. The key differentiator for 123 Bishan Street 12 is its freehold tenure, which distinguishes it from many leasehold HDB properties of equivalent age and eliminates future lease extension cost concerns that increasingly affect competitor properties. Blocks with slightly better MRT proximity (under 5 minutes) or larger unit areas may command 5-10% pricing premiums, whilst blocks in less established microlocations within Bishan may trade at 3-8% discounts. Serious buyers should conduct side-by-side comparisons of recent resale data across 2-3 competing blocks to validate pricing competitiveness and ensure purchase decision alignment with available alternatives.

Which unit stack or floor level offers the best value at 123 Bishan Street 12?

Mid-floor units (floors 5-15) typically represent optimal value at 123 Bishan Street 12, balancing premium prices paid for high floors against practical access and safety considerations of very low floors. Low-floor units (1-3) often trade at 3-8% discounts relative to mid-floor comparables due to reduced privacy, natural light limitations, and perceived security concerns, making them attractive for budget-conscious buyers prioritising financial savings. High-floor units (16+) command premiums of 8-15% due to superior views, reduced ambient noise, and enhanced privacy, justifying the premium for buyers prioritising lifestyle amenities. Corner units and units with balconies typically add 5-10% to baseline pricing. Investors seeking rental yield frequently find mid-floor units offer the optimal balance, as tenants pay modest premiums for high floors, reducing gross yield upside relative to the higher acquisition cost.

What future supply pipeline exists in Bishan, and how might it affect property values at 123 Bishan Street 12?

Bishan's future supply pipeline appears limited in terms of new HDB development, as the estate is substantially built-out and mature, with limited vacant land available for major new residential projects. Any future supply is more likely to involve estate renewal projects, intensification of existing sites, or private residential development targeting the upper market segment, which would not directly compete with mid-market HDB stock. The government's stated policy priorities—maintaining and upgrading mature estates rather than generating large new supply—suggest that Bishan's supply constraints should support valuations for existing properties. However, potential upgrading initiatives or infrastructure improvements (such as future MRT line extensions or commercial developments) could trigger speculative activity, potentially benefiting 123 Bishan Street 12 through increased neighbourhood vitality. Buyers should monitor HDB Development pipeline announcements and URA Master Plan updates for any proposed interventions that might affect the development, though the absence of imminent major supply threats provides confidence in medium-term value resilience.

Hdb Flat At 123 Bishan Street 12 — From S$668K