Type

Units

Min Area

Price Range

4 BR

1593 sqft

S$1.2M

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$1.2M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$236K on this acquisition.
Located 8 min (690 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.

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218 Bishan Street 23: A Mature HDB Development in Central Singapore

218 Bishan Street 23 represents a well-established public housing development situated in one of Singapore's most sought-after residential districts. The project occupies a prime location within Bishan, a neighbourhood that has evolved into a vibrant residential enclave combining modern conveniences with strong community infrastructure. Properties at this address offer buyers and investors access to a mature estate with decades of proven stability and consistent market performance.

The development benefits from its strategic positioning just eight minutes' walk from NS17 Bishan MRT Station, placing residents within easy reach of the broader Singapore transport network. This accessibility has made Bishan a preferred choice for families, working professionals, and upgraders seeking a balance between affordability and convenience. The proximity to the MRT station significantly enhances the property's appeal for both owner-occupiers and those considering rental investment opportunities, as commuting becomes seamless to employment hubs across the island.

Unit Configurations and Space

The development offers multiple unit types ranging from three-bedroom to four-bedroom configurations, with total floor areas spanning approximately 1,200 to 1,600 square feet. This variety ensures that different household structures can find suitable accommodation, whether young families seeking their first upgrade or larger households requiring additional space. The generously proportioned units reflect the design standards of their era whilst providing the practical living space that modern families expect. High ceilings and efficient floor layouts are characteristic of properties in this stack, maximising usable living areas and natural light penetration throughout.

Neighbourhood and Amenities

Bishan has matured into a neighbourhood that combines residential tranquillity with comprehensive urban infrastructure. The surrounding area features a dense network of schools, healthcare facilities, retail centres, and dining establishments, ensuring that residents need not travel far for everyday necessities. The nearby Bishan Park provides extensive recreational space, including jogging tracks, fitness facilities, and landscaped gardens, contributing to the area's appeal for health-conscious residents. Shopping options range from established wet markets to modern shopping malls, offering residents flexibility in their purchasing choices.

Investment Potential and Market Dynamics

Properties within the Bishan estate have consistently demonstrated resilience in the resale market, underpinned by the district's established status and limited new supply. As one of Singapore's mature public housing estates, Bishan attracts a broad demographic of buyers, from first-time upgraders to investors seeking stable rental yields. The development's central location ensures that it remains competitive within the broader HDB market, with prices reflecting the premium typically commanded by properties close to transport nodes. Capital appreciation potential is supported by the scarcity of new HDB launches in similarly accessible locations, positioning existing units as increasingly valuable assets.

Lease Tenure and Ownership Perspective

Like all public housing schemes, properties at 218 Bishan Street 23 are subject to HDB lease arrangements, typically offered on 99-year terms. Whilst 99-year leasehold properties do experience gradual lease decay over extended periods, the impact on resale value is typically managed through careful monitoring of the property's maintenance condition and overall market fundamentals. Buyers should be mindful that as leases approach the 80-year mark, certain financing institutions may impose stricter lending criteria. However, given the property's central location and established infrastructure, the development is likely to remain attractive to subsequent purchasers throughout its lease period, supporting long-term value retention.

Transportation and Connectivity

The eight-minute walk to Bishan MRT Station positions residents at a significant advantage within Singapore's transport ecosystem. NS17 Bishan Station serves as a major transport interchange, offering direct access to the North-South Line and connections to Circle Line services at nearby Marymount Station. This connectivity opens commuting possibilities across the entire MRT network, from the business districts of the city centre to residential areas across all regions. For working professionals, the proximity to transport infrastructure directly reduces commuting time and associated costs, enhancing the property's overall value proposition.

Pricing and Market Positioning

Properties at 218 Bishan Street 23 are priced competitively within the Bishan HDB market, reflecting the maturity of the estate, established amenities, and strong transport accessibility. Prices typically commence from S$1.18 million for larger units, positioning the development within the mid-to-upper range of the HDB resale market. This pricing aligns with comparable properties in similarly accessible locations across central Singapore. Prospective purchasers should note that prices vary according to unit size, floor level, view orientation, and remaining lease duration, with higher floors and units enjoying unobstructed vistas commanding premiums.

Suitability for Different Buyer Profiles

The development appeals to a diverse range of purchaser types, each finding particular advantage within its characteristics. First-time upgraders benefit from the combination of space, established infrastructure, and accessibility, which collectively provide excellent value for money. Growing families appreciate the larger unit sizes and proximity to multiple schools and recreational facilities. Investors are attracted by the stable rental market in Bishan, where demand remains consistently strong from expatriates and young professionals. Retirees value the mature neighbourhood character and proximity to healthcare services at Bishan Polyclinic and nearby hospitals, making the area particularly suitable for downsizing from landed property.

Future District Development and Planning

Bishan's status as an established residential estate means that future development is likely to focus on rejuvenation of existing infrastructure rather than large-scale new residential projects. The Government's broader plans for HDB estate renewal may eventually influence the area's long-term trajectory, though timelines for any significant interventions remain uncertain. The surrounding precinct is well-planned, with limited vacant land available for new development, effectively protecting the area from disruptive infrastructure projects. This stability in the neighbourhood's character supports price resilience and makes it an attractive prospect for buyers seeking long-term residential stability.

Frequently Asked Questions

What rental yield might an investor expect from purchasing a unit at 218 Bishan Street 23?

Bishan is a mature residential estate with historically strong rental demand, particularly from expatriates and young professionals seeking convenient city access. Based on comparable HDB properties in the area, units at this address could realistically generate gross rental yields ranging from 2.5% to 3.5% annually, depending on unit size, floor level, and current market conditions. Whilst HDB rental yields are generally more modest than private residential investments, the stability of demand in Bishan combined with the property's accessibility via MRT provides relatively predictable income. Investors should note that HDB rental turnover is typically annual or semi-annual, allowing for disciplined tenant selection and lease management aligned with personal preferences.

How does the price per square foot at 218 Bishan Street 23 compare to recent Bishan HDB transactions?

The development's pricing reflects the area's established desirability and transport accessibility, typically positioning at price points ranging from approximately S$740 to S$950 per square foot depending on unit configuration, floor level, and lease remaining. This range aligns closely with recent resale transactions for similar units across Bishan, suggesting fair market valuation relative to comparable stock. Units enjoying premium positioning—such as higher floors with unobstructed views or corner blocks offering superior light and ventilation—command the upper end of this spectrum, whilst ground and lower floors tend toward lower psf values. Prospective buyers should conduct focused comparisons with recent comparable sales within the same block and neighbouring blocks to ensure they are achieving optimal value.

What are the Additional Buyer's Stamp Duty implications for a Singapore Citizen purchasing a second residential property at this development?

Singapore Citizens purchasing a second residential property are subject to Additional Buyer's Stamp Duty (ABSD) at the current rate of 20% on the purchase price, significantly increasing the total acquisition cost beyond standard stamp duty. For a unit priced at S$1.18 million, ABSD would amount to approximately S$236,000, substantially impacting the buyer's total outlay at completion. This ABSD applies regardless of whether the property is intended for owner-occupation or investment, making it a critical consideration in the purchase decision. Buyers should account for this cost in their financial planning and consult with their conveyancing solicitors to understand how ABSD interacts with their specific circumstances, as certain exemptions may apply in limited scenarios.

How does lease decay risk affect resale value and investment returns for properties at 218 Bishan Street 23?

Properties at 218 Bishan Street 23 are offered on 99-year leasehold terms, meaning they will gradually experience lease decay over decades. Whilst lease decay is a long-term consideration rather than an immediate concern, properties approaching the 80-year mark may face stricter lending conditions from financial institutions, potentially limiting the pool of eligible purchasers and exerting downward pressure on resale values. Currently, most units at this development have substantially more than 70 years remaining on their leases, positioning them outside the immediate impact zone for financing constraints. However, buyers should factor into their long-term investment horizon that lease duration will eventually become a valuation factor—typically reducing annual capital appreciation rates once leases fall below 60 years. This is a standard characteristic of the HDB resale market and should not deter purchases intended for medium-term owner-occupation.

How does proximity to Bishan MRT Station influence demand and capital appreciation at this address?

The eight-minute walk to NS17 Bishan MRT Station is a significant value driver, placing the development within Singapore's top tier of accessible HDB locations and supporting sustained demand from both owner-occupiers and investors. Properties with excellent transport connectivity have historically outperformed those requiring longer commutes, as the convenience premium translates into stronger capital appreciation over market cycles. Bishan MRT's position as a major interchange offering both North-South Line and Circle Line connections amplifies its importance as a commuting hub, benefiting the entire surrounding estate. The proximity ensures that demand for units at this development remains resilient across varying market conditions, as the transport advantage is essentially permanent and cannot be replicated by future developments in other locations.

Is 218 Bishan Street 23 suitable for first-time HDB buyers, upgraders, and investors?

The development offers genuine appeal across all three buyer categories. First-time buyers benefit from the established infrastructure, multiple schools and amenities within walking distance, and the relatively straightforward process of purchasing a mature HDB property. Upgraders appreciate the substantial unit sizes—particularly the four-bedroom configurations—combined with the convenience of central location, allowing them to consolidate onto fewer properties whilst improving accessibility. Investors are drawn to the proven rental market strength in Bishan, the estate's maturity reducing risk of disruptive change, and the relatively liquid resale market ensuring exit options remain available. Each profile should conduct specific due diligence aligned with their priorities, but the development's broad-based appeal reflects its positioning as a genuinely versatile holding within the HDB market.

What TDSR and financing headroom should buyers expect when purchasing at typical price points?

For a unit priced at S$1.18 million, buyers financing through HDB Housing Loan would typically require monthly repayment capacity aligned with the Debt Service Ratio (TDSR) of 60%, allowing maximum monthly commitments of approximately 60% of gross monthly household income. This translates to requiring household income of roughly S$9,000 to S$10,000 monthly for comfortable financing of units at this price point, ensuring adequate headroom for property taxes, insurance, maintenance contributions, and unexpected expenses. Buyers with lower household incomes should consider smaller units within the development to reduce loan quantum and monthly repayment burdens. It is advisable to engage with HDB loan officers early in the purchase journey to understand exact financing eligibility based on employment status, existing debts, and household composition.

How does 218 Bishan Street 23 compare to competing HDB developments in adjacent or nearby areas?

Bishan's established status means that competing HDB stock is primarily concentrated within the estate itself, as new HDB launches in comparably accessible central locations are increasingly rare. Properties at Bishan Street 23 offer similar fundamental characteristics to other blocks within the estate—mature infrastructure, established amenities, strong transport links—though specific advantages may vary with individual block orientation, renovation status, and floor level. Older blocks within Bishan may offer lower entry prices but potentially require more significant refreshment, whilst newer estate rejuvenation projects may command modest premiums. Buyers should conduct comparative inspections across multiple blocks to identify properties offering optimal value relative to condition, renovation requirements, and specific unit positioning. The development's competitive position is primarily relative to other Bishan blocks rather than to geographically distant alternatives, as location within this established estate is the fundamental value proposition.

Which unit stacks or floor levels typically offer the best value at this development?

Lower and middle floors typically offer superior value on a per-square-foot basis, as premium pricing for higher floors with enhanced views often exceeds the marginal benefit to typical owner-occupiers. Units on floors three through eight generally provide good light and ventilation without the elevated pricing of higher levels, representing optimal value zones for budget-conscious buyers. Corner units at any floor level typically command premiums due to enhanced natural light and reduced neighbour-facing walls, though this premium may not always justify the additional cost. Mid-stack positioning also offers practical advantages in terms of ease of access for elderly residents and young children, reducing reliance on elevators and providing convenient stairwell egress. Buyers should prioritise unit condition and suitability for their specific household composition over floor level aspirations, as the marginal premium for height often exceeds genuine functional benefit.

What is the outlook for future supply in Bishan and how does this affect long-term property values?

Bishan's mature status and dense development pattern mean that significant new HDB supply in the immediate area is unlikely in the foreseeable future, effectively protecting existing properties from near-term competitive pressures. The Government's broader new HDB launches tend to focus on suburban growth areas and estate rejuvenation projects rather than densifying already-developed central precincts. This supply scarcity provides structural support to values at established central developments like 218 Bishan Street 23, as the pool of similarly accessible alternatives remains constrained. Prospective buyers should view limited future supply as a positive indicator of long-term value resilience, as existing properties benefit from increasing relative scarcity. However, long-term planning for Bishan may eventually include estate rejuvenation initiatives that could reshape the area's character, though timelines for such interventions remain highly uncertain and would likely occur decades hence.

[For Sale] 218 Bishan Street 23 — From S$1.2M