Type

Units

Min Area

Price Range

3 BR

968 sqft

S$808K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$808K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$162K 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 Well-Established HDB Development in Central Singapore

123 Bishan Street 12 stands as a notable residential development in one of Singapore's most mature and sought-after neighbourhoods. Situated in the heart of Bishan, this HDB flat project has established itself as a reliable choice for families and investors seeking a balance between accessibility, community amenities, and housing value. The development benefits from decades of community infrastructure investment and the natural maturation of the Bishan precinct, making it an attractive proposition for those who prioritise connectivity and neighbourhood stability.

The location offers compelling advantages for property buyers. The development's proximity to NS17 Bishan MRT Station—approximately 10 minutes on foot or 830 metres—positions residents within reach of one of Singapore's most strategically important transport nodes. The North-South Line connection facilitates seamless travel to the city centre, Marina Bay, and northbound destinations, making commuting manageable for professionals working across the island. This accessibility has underpinned sustained demand for properties in the Bishan corridor, supporting both rental yields and long-term capital preservation.

Layout and Unit Configuration

The development comprises various unit types designed to accommodate different household compositions and life stages. Units within the project range from smaller configurations to spacious three-bedroom flats, with the latter offering approximately 968 square feet of internal floor area. This scale provides genuine room for family living, with distinct bedrooms, functional bathrooms, and a logical separation of living and sleeping zones. Such generous proportions are particularly valued by upgrading families moving from smaller units or first-generation HDB flats, as well as by investors seeking units capable of commanding robust rental returns.

The three-bedroom configuration represents the practical sweet spot in the Bishan HDB market—large enough to justify premium rental rates from families, yet efficient enough to optimise turnover and tenant demand. Two full bathrooms afford convenience for multi-generational or dual-income households, reducing friction during peak usage periods. The overall floor plan efficiency reflects considered design principles that maximise usable living space whilst maintaining structural integrity and functional room dimensions.

Pricing and Market Position

Current asking prices for units at 123 Bishan Street 12 commence from S$808,000, reflecting the development's maturity, location attributes, and persistent demand within the Bishan market. This price point positions the development competitively against nearby resale offerings, particularly given the NS17 MRT proximity and neighbourhood amenities. Buyers entering the market at this level can expect to benefit from the neighbourhood's established character and the property's proven resale liquidity—both factors that insurance-conscious purchasers value highly.

The per-square-foot transactional evidence in Bishan has remained relatively stable in recent years, underpinned by consistent buyer interest from upgraders and investor cohorts. Properties within this development tend to track the wider Bishan HDB market closely, with price movements driven by broader factors such as interest rate cycles, upgrading momentum, and policy changes affecting the HDB segment. First-time buyers and investors should expect moderate but sustainable appreciation over the long term, conditional on sound financial management and broader economic conditions.

Investment Potential and Rental Yield

From an investor's perspective, 123 Bishan Street 12 presents a credible rental yield scenario. Three-bedroom HDB flats in established Bishan neighbourhoods typically achieve gross rental yields in the region of 3% to 4% annually, depending on exact unit condition, floor level, and tenant profile. At the current pricing level, this translates to estimated annual rental income ranging from S$24,000 to S$32,000 for a standard three-bedroom unit, assuming stable market rental rates. Investors must factor in property tax, maintenance levies, and potential vacancy periods, which typically reduce net yield to approximately 2.5% to 3%.

The rental market for HDB flats in Bishan remains robust, driven by young professionals, expatriate families, and owner-occupiers seeking temporary housing during upgrading cycles. The neighbourhood's MRT connectivity, proximity to commercial zones, and established schooling infrastructure create consistent tenant demand. However, prospective investors should be cognisant of the broader HDB lease decay trajectory—as the development ages and remaining lease duration contracts, rental demand and capital value may moderate progressively, particularly beyond the 80-year lease threshold.

Financing and Affordability

Buyers utilising HDB loan facilities will find that properties at this price point remain comfortably within typical lending parameters. HDB loans typically support up to 80% LTV (loan-to-value) at standard rates, allowing eligible first-time buyers to access financing with manageable downpayments. At S$808,000, an 80% loan equates to approximately S$646,400 borrowed, with a 20% downpayment of S$161,600 required upfront. Monthly loan servicing on a 25-year term would approximate S$3,100 to S$3,400 depending on prevailing HDB interest rates.

Owner-occupiers purchasing as their first property face no Additional Buyer's Stamp Duty (ABSD) and will benefit from standard Stamp Duty rates applicable to HDB transactions. However, second-property buyers must account for a 20% ABSD levy on the purchase price, materially increasing acquisition costs and required capital. A second buyer at this price point would face ABSD liability of approximately S$161,600, substantially altering the true cost of entry and the equity requirement for financing. Total Debt Servicing Ratio (TDSR) assessments for financing purposes typically cap monthly debt obligations at 60% of gross household income—a threshold that remains achievable for dual-income professional households at this price level, but which may constrain approval for single-income applicants.

Neighbourhood Context and Future Growth

Bishan has matured into one of Singapore's most complete residential precincts, featuring established shopping centres, food courts, healthcare facilities, and recreational spaces. The neighbourhood's HDB population is multigenerational, with many families having lived in the area for decades, creating a stable and established community fabric. This maturity offers advantages—reliable services, proven amenities, and reduced development uncertainty—alongside the inherent characteristic of an older neighbourhood: fewer major infrastructure projects or disruptive upgrading initiatives.

Future HDB supply in the Bishan area is anticipated to remain modest, given the precinct's density and maturity. The Housing and Development Board's recent planning emphasis has shifted towards growth areas such as Punggol and Woodlands, implying that Bishan properties may face less competition from newly launched units. This supply constraint, combined with persistent demand from upgraders and investors, suggests that resale values within established developments such as 123 Bishan Street 12 may experience gentle appreciation relative to the broader market. However, buyers should acknowledge that the most dramatic capital gains typically occur in emerging precincts rather than consolidated neighbourhoods.

Lease Considerations

As a mature HDB development, the remaining lease duration is a material consideration for all buyer categories. Properties in this precinct typically exhibit lease lengths ranging from 65 to 75 years, depending on the original construction completion date. Lease decay remains an inevitable reality for all HDB flats—properties with leases below 80 years experience accelerating capital value erosion, whilst those below 60 years face reduced financing availability and rental demand. Prospective buyers must ascertain the exact lease commencement and current remaining duration before committing to purchase, and should factor potential lease decay into long-term investment returns.

First-time buyers purchasing for owner-occupation can afford to be somewhat pragmatic about lease decay, as their investment horizon often extends 25 years or more—sufficient to preserve meaningful equity despite gradual lease expiration. Investors, conversely, should apply more stringent lease thresholds, targeting units with leases of at least 70 years to maintain tenant appeal and resale optionality. The HDB's rumoured plans for lease extension mechanisms remain uncertain, so reliance on future policy interventions is inadvisable.

Comparison to Nearby Developments

Within the Bishan corridor, 123 Bishan Street 12 competes with other established HDB estates such as Bishan Street 11, Bishan Street 13, and nearby private residential developments in the broader north-central zone. Comparable HDB flats in adjacent streets typically trade at similar psf valuations, reflecting the neighbourhood's unified pricing dynamics. However, developments with shorter remaining leases trade at discounts of 5% to 15%, whilst those benefiting from superior floor levels, better-maintained common areas, or proximity to upgraded facilities command modest premiums.

Private residential properties in the Bishan area—such as condominiums along Marymount Road or Ang Mo Kio Avenue 3—trade at substantially higher per-square-foot prices, typically 2.5 to 3 times HDB valuations. This premium reflects freehold ownership, superior finishes, and lifestyle amenities including pools, gyms, and concierge services. For cost-conscious buyers prioritising accessibility and affordability over luxury finishes, HDB options such as 123 Bishan Street 12 deliver substantially greater value per dollar deployed.

Suitability for Different Buyer Cohorts

First-time owner-occupiers stand to gain significantly from properties at 123 Bishan Street 12. The neighbourhood's maturity, MRT connectivity, and established community infrastructure provide reassurance and proven livability. New buyers can move into homes with confidence that essential services and social infrastructure are embedded rather than pending future delivery. The price point, combined with HDB financing support, makes entry to homeownership manageable for dual-income households earning combined income in the S$120,000 to S$180,000 annual range.

Upgrading families moving from smaller two-bedroom units will find the expanded floor area and additional bathroom functional improvements that justify the capital commitment. The Bishan location allows such families to remain within established community networks—often important for families with school-age children already embedded in local institutions. Investors seeking income-producing assets will appreciate the stable tenant demand and moderate leverage available through HDB financing; however, lease decay and capped rental upside mean that financial returns remain modest rather than spectacular.

High-net-worth individuals and luxury-focused purchasers typically gravitate towards private residential or executive-tier HDB developments in more aspirational precincts, making 123 Bishan Street 12 less aligned with that cohort's aesthetic and lifestyle expectations. Similarly, shorter-term speculators seeking rapid capital appreciation may find the development's mature positioning and steady-state market dynamics insufficiently volatile to match their return targets.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at 123 Bishan Street 12 as an investment property?

Three-bedroom HDB flats at 123 Bishan Street 12 typically generate gross rental yields between 3% and 4% annually, translating to approximately S$24,000 to S$32,000 in annual rental income at current market prices. After accounting for property tax, maintenance levies, upgrading reserves, and potential vacancy periods, net yields typically reduce to 2.5% to 3%. The Bishan neighbourhood maintains consistent rental demand from young professionals, expatriate families, and upgraders, supporting reliable tenant occupancy and modest rental growth aligned to broader wage inflation. However, investors must recognise that lease decay accelerates beyond the 80-year mark, progressively reducing both rental demand and capital value—a factor that should heavily influence purchase decisions in older estates.

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

Properties within 123 Bishan Street 12 trade at per-square-foot valuations broadly consistent with comparable HDB resale units across the wider Bishan precinct, with the current asking price of approximately S$808,000 for a 968 sqft unit implying a per-sqft valuation around S$835. This aligns closely with observed market transactions in Bishan Street 11, Bishan Street 13, and neighbouring avenues over the past 12 to 18 months. However, significant variation exists based on remaining lease duration—developments with leases below 80 years typically trade at 5% to 15% discounts relative to longer-lease counterparts. Properties commanding premium valuations typically feature superior floor levels (higher storeys), less steep lease decay trajectories, or proximity to upgraded neighbourhood facilities or MRT stations.

What is the Additional Buyer's Stamp Duty (ABSD) impact if I purchase this HDB as a second residential property?

Singapore Citizens purchasing a second residential property—whether HDB or private—must pay Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price. For a unit priced at S$808,000, this equates to ABSD liability of approximately S$161,600, substantially increasing the true acquisition cost beyond the headline purchase price. ABSD is payable at completion of purchase and is non-recoverable, effectively reducing available equity and requiring materially higher upfront capital commitment. First-time owner-occupiers purchasing their primary residence face no ABSD, making the fiscal differential between first-time and second-property purchases at this price point approximately S$161,600—a sum that materially influences return-on-investment calculations for investors and upgraders alike.

How does lease decay affect the resale value and marketability of units at 123 Bishan Street 12?

As a mature HDB development, properties at 123 Bishan Street 12 likely exhibit remaining lease durations in the 65 to 75-year band, making lease decay an material long-term consideration. Properties with leases below 80 years experience progressive capital value erosion—typically 1% to 2% annually as the lease boundary approaches the 60-year threshold, beyond which financing availability sharply contracts and tenant demand diminishes. Buyers holding units through the 80-year lease crossing will experience accelerating value decline, particularly acute in the final 30 years of the lease term. First-time owner-occupiers planning 25+ year ownership horizons can partially offset this through appreciation driven by neighbourhood maturation; however, investors face more acute lease decay risk and should target units with remaining leases of at least 70 years to preserve tenant appeal and resale optionality.

How does proximity to NS17 Bishan MRT Station influence demand, capital appreciation, and rental rates at this development?

The 10-minute walking proximity to NS17 Bishan MRT Station is a primary value driver for 123 Bishan Street 12, underpinning both sustained demand and capital stability across the Bishan precinct. Properties within 400 to 500 metres of major MRT stations typically command 5% to 10% premiums over similarly configured units in less accessible locations, reflecting the premium buyers and renters assign to commute convenience. The North-South Line's strategic positioning—linking Bishan directly to Orchard, Marina Bay, and the north-eastern growth zones—creates reliable tenant demand from professionals with diverse workplace locations. Capital appreciation in MRT-proximate precincts has historically outpaced car-dependent neighbourhoods by 1% to 2% annually, although such gains have moderated in recent years as MRT accessibility has become ubiquitous. Future MRT connectivity improvements, such as extensions to Circle Line or Cross Island Line segments, could further elevate the development's locational premium.

Is 123 Bishan Street 12 suitable for first-time home buyers, upgraders, or investment-focused purchasers?

The development appeals strongly to first-time owner-occupiers and upgrading families, but with different value propositions for each cohort. First-time buyers benefit from established neighbourhood infrastructure, MRT connectivity, predictable property appreciation, and HDB financing support—making the S$808,000 entry point achievable for dual-income households earning combined income of S$120,000 to S$180,000 annually. Upgraders moving from smaller two-bedroom units value the additional space (968 sqft for three-bedroom units), second bathroom functionality, and community continuity if already embedded in Bishan. Investors can access reliable rental yields and HDB leverage, though the combination of lease decay, capped rental growth, and moderate net returns (2.5% to 3% after costs) places this development into the lower-tier opportunity set relative to emerging precincts or longer-lease alternatives. Luxury-focused or high-net-worth purchasers typically gravitate towards private residential properties or executive-tier HDB developments in more aspirational districts.

What are the financing requirements and TDSR headroom for typical buyers at 123 Bishan Street 12's price point?

At S$808,000, HDB financing typically supports 80% LTV (loan-to-value), requiring a 20% downpayment of approximately S$161,600 and enabling mortgage borrowing of S$646,400. Over a 25-year HDB loan term at prevailing rates (approximately 2.6% to 2.8%), monthly loan servicing approximates S$3,100 to S$3,400 excluding property tax and maintenance levies. Total Debt Servicing Ratio (TDSR) regulations typically cap monthly debt obligations at 60% of gross household income—implying that buyers require combined household income of approximately S$155,000 to S$170,000 annually to comfortably service debt at the S$808,000 price point whilst maintaining headroom for other obligations. Dual-income professional households in the S$120,000 to S$180,000 combined income bracket can typically access financing with reasonable equity cushion, whilst single-income applicants or those with existing debt obligations may face constrained approval margins. Second-property purchasers must additionally factor S$161,600 ABSD liability, materially increasing capital requirements and reducing available financing leverage.

How does 123 Bishan Street 12 compare in value to nearby competing HDB developments?

Within the immediate Bishan corridor, 123 Bishan Street 12 competes directly with established estates such as Bishan Street 11, Bishan Street 13, and Bishan Street 14, with comparable three-bedroom units trading at similar per-square-foot valuations (approximately S$830 to S$850 per sqft). Differentiation typically derives from remaining lease duration—developments with longer leases or recent upgrading completion command 3% to 8% premiums, whilst those with lease durations below 70 years trade at commensurate discounts. Properties in newer or emerging precincts such as Punggol or Woodlands typically trade at modest discounts to mature Bishan units on a per-sqft basis, but offer longer lease tenures and newer building fabric, appealing strongly to long-term investors. Private residential alternatives within the broader north-central zone—such as condominiums on Marymount Road—command 2.5 to 3 times the per-sqft pricing, reflecting freehold tenure and luxury amenities. For value-conscious buyers prioritising accessibility and affordability, HDB options such as 123 Bishan Street 12 deliver substantially superior value per capital dollar deployed relative to private residential alternatives.

Are there any particular floor levels or unit stacks that offer better value or capital preservation at this development?

Within HDB estates, unit desirability and pricing variation typically follow predictable patterns. Mid-level units (floors 6 to 12) command modest premiums over lower floors due to reduced noise exposure, improved natural light, and reduced flood or pest risk—typically 2% to 5% above ground-floor comparable valuations. Higher floors (above level 15) may trade at further premiums if they command park or neighbourhood views, though the differential diminishes in established, dense precincts such as Bishan where skyline views are limited. Corner and end-of-block units typically offer superior natural ventilation and light, commanding 3% to 7% premiums over internal-corridor units. However, capital preservation—rather than speculative premium-chasing—favours units with superior remaining lease duration and standard configurations attracting broad tenant appeal. Mid-level, centrally-located units with longer remaining leases typically offer the optimal balance of acquisition price, rental yield, and long-term value retention, particularly for investor cohorts prioritising risk mitigation over lifestyle preferences.

What is the future supply pipeline for HDB flats in the Bishan district, and how might it affect values at 123 Bishan Street 12?

Future HDB supply in the Bishan precinct is anticipated to remain modest, with the Housing and Development Board's recent planning emphasis shifting towards growth areas such as Punggol, Woodlands, and Clementi. The Bishan district's established density and mature housing stock imply that major new HDB launches within immediate proximity to 123 Bishan Street 12 are unlikely within the next 5 to 10 years. This constrained supply trajectory is broadly positive for resale values within existing developments, reducing new-unit competition and supporting relatively steady demand from upgraders and investors. However, buyers should acknowledge that the most significant capital gains typically accrue in newly-launched or emerging precincts where supply scarcity, high demand, and infrastructure completion cycles drive rapid appreciation. In established, mature precincts such as Bishan, capital appreciation tends towards modest single-digit annual rates—adequate for wealth preservation and modest real-terms gains, but insufficient for aggressive capital accumulation strategies. Long-term buyers should approach 123 Bishan Street 12 as a stability-focused investment rather than a capital-growth vehicle.

[For Sale] Hdb Flat At Bishan Street 12 — From S$808K