Type

Units

Min Area

Price Range

3 BR

1130 sqft

S$899K

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$899K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$180K on this acquisition.
Located 14 min (1.13 km) 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.

227 Bishan Street 23: Central Bishan Living with Established Infrastructure

227 Bishan Street 23 represents a mature HDB development positioned within one of Singapore's most established residential districts. The project occupies a well-integrated location in Bishan, an area that has matured significantly over the past two decades and now offers a blend of residential stability, commercial convenience, and transport connectivity that appeals to a broad spectrum of property buyers. Units within this development are priced from S$899,000 and available across varying bedroom configurations, making the project accessible to first-time owners, upgraders, and investment-focused purchasers seeking exposure to a central Singapore address.

The Bishan area itself has evolved into a self-contained hub with multiple layers of amenity infrastructure. Residents benefit from proximity to retail and dining establishments, family-oriented facilities, and educational institutions that serve multiple age groups. The neighbourhood character reflects the deliberate urban planning that shaped central Singapore's residential corridors, with green spaces, community facilities, and mixed-use zones interwoven throughout the wider district. This established infrastructure backdrop means that 227 Bishan Street 23 sits within a neighbourhood already proven in terms of liveability and medium to long-term demand stability.

Transport Connectivity and Accessibility

NS17 Bishan MRT Station lies approximately 1.13 kilometres away, translating to a walk of roughly 14 minutes on foot. This distance positions the development within a moderate accessibility range that remains practical for daily commuting whilst not occupying the ultra-prime inner-circle MRT catchment that commands premium valuations. The Bishan station itself serves as an interchange between the North-South Line and the Circle Line, providing dual-line connectivity that enhances travel options across the island. For professionals commuting to the Central Business District, the North-South Line offers direct access via Raffles Place and Marina Bay stations, making the development suitable for working-age owner-occupiers and investors targeting rental yields from employed professionals.

The moderate distance from the station means that whilst MRT accessibility is strong, the development does not sit at the extreme pinch-point of MRT-proximate pricing, potentially offering better value proportions for budget-conscious buyers. Secondary transport modes, including bus services throughout Bishan, provide additional connectivity for shorter-hop commutes within the neighbourhood and to adjacent planning areas. This multi-modal transport character reduces over-reliance on any single transport node and provides flexibility for residents with varied commute patterns or lifestyles.

Pricing, Affordability, and Buyer Accessibility

Entry pricing from S$899,000 positions this development within the mid-range segment of the HDB market, creating an accessible threshold for first-time buyers making the transition into ownership and for upgraders moving within the HDB ecosystem. The price point reflects a balance between location premium (central Singapore address within an established district) and the absence of ultra-prime MRT adjacency or luxury finishing typical of new-launch projects. This positioning can advantage certain buyer cohorts who prioritise location convenience and neighbourhood maturity over bleeding-edge finishes or newness premiums.

For buyers evaluating total acquisition costs, HDB stamp duties and Additional Buyer's Stamp Duty (ABSD) implications vary based on citizenship status and ownership history. Singapore Citizens purchasing a second residential HDB property would incur ABSD at the current rate of 20%, materially increasing the effective purchase cost. First-time buyers and Singapore Citizens acquiring their first property face concessional ABSD of 5%, making the acquisition cost substantially lower. Non-citizens and permanent residents face different ABSD and ownership restriction frameworks. Understanding these tax layering implications is critical when comparing the true all-in cost of ownership at this price point.

Lease Tenure and Long-Term Value Retention

As an HDB property, 227 Bishan Street 23 operates within Singapore's leasehold framework. HDB leases typically range from 99-year to 999-year tenures, with the specific lease length available determining medium and long-term resale appeal and financing headroom. A 99-year lease property, whilst currently saleable and financeable, experiences accelerating value decay as the remaining lease duration falls below 80 years, creating a mathematical depreciation profile that investors and owner-occupiers must factor into holding period analysis. Conversely, a 999-year or longer lease exhibits minimal decay risk over typical ownership horizons and aligns more closely with freehold value retention psychology.

Buyers should verify the precise lease tenure and remaining lease duration before proceeding, as these parameters directly influence financing terms (mortgage tenure is often capped at 70-80% of remaining lease, creating refinancing or exit challenges for later buyers), future saleability, and capital appreciation trajectory. HDB resale regulations also permit purchase and sale of properties with remaining leases above 30 years for most buyer profiles, though properties approaching this lower threshold face restricted buyer pools and accelerating value softness. The development's age and lease status relative to current market dates should inform long-term wealth-building assumptions.

Rental Yield Potential and Investment Suitability

For buy-to-let investors, 227 Bishan Street 23 offers exposure to Bishan's established rental market. Rental demand in the area is underpinned by the demographic cohorts attracted to central Singapore's convenience and the presence of expatriate and mobile domestic populations willing to rent in mature, transport-connected precincts. Estimated gross rental yields for HDB properties in this location segment typically fall between 2.5% to 3.5% annually, depending on exact unit configuration, floor level, and specific lease condition. These yields reflect market-clearing rent levels for a 3-bedroom HDB unit in Bishan, typically ranging from S$2,400 to S$3,200 per month in current market conditions.

The investment thesis is strengthened by the area's lack of major new HDB supply planned in the immediate vicinity, meaning that rental competition is unlikely to spike from greenfield completions. The development's position within a consolidated, mature neighbourhood also attracts longer-tenure tenants (families, established expatriates, multi-year posting holders) rather than transient or short-stay cohorts, lowering tenant churn and maintenance unpredictability. Investors should stress-test yield assumptions against mortgage servicing costs at current interest rates and factor in property tax, maintenance, and occasional repair reserves to derive net yield figures.

Competitive Positioning and Market Comparables

Within the broader Bishan and adjacent Central region HDB landscape, 227 Bishan Street 23 competes against a wide array of similarly-aged or older HDB blocks scattered throughout the district. Recent transactional evidence in Bishan for comparable 3-bedroom, 2-bathroom units in similar condition typically ranges from S$850,000 to S$950,000, making pricing at the S$899,000 entry level competitive but not standout cheap. The key differentiation lies in specific unit attributes—floor level, block position (exposure to noise or traffic), views, remaining lease tenure, and any renovation upgrades—rather than broad development characteristics.

Newer HDB launches in growth areas such as Sengkang, Punggol, or Tampines command price-per-square-foot premiums due to newness and modern finishes, but these areas lack the established transport and commercial infrastructure present in Bishan. Conversely, ultra-central locations nearer the CBD (such as Tiong Bahru, Tanjong Pagar, or Clementi MRT) command significantly higher per-unit valuations reflective of their geography scarcity and extreme MRT proximity. 227 Bishan Street 23 occupies the middle ground—mature, accessible, competently-priced—making it suitable for buyers prioritising practicality over trendiness or location extremes.

Suitability Across Buyer Profiles

First-time buyers benefit from the development's established neighbourhood character, proven rental and resale track record, and accessible pricing that allows entry without overextending leverage or ABSD penalties. The moderate MRT distance is pedagogical—it keeps buyers grounded in walkable-neighbourhood sensibilities rather than encouraging car-dependency, and it often correlates with lower cost of living for routine needs.

Owner-occupier upgraders moving from smaller HDB units or private apartments to larger family configurations will find 227 Bishan Street 23 appeals due to proven supply of larger units, stable neighbourhood character, and room for families to grow. High-net-worth individuals may find the development less compelling given the absence of luxury finishes or trophy appeal, though some HNW buyers appreciate the asset stability and under-the-radar value character of established HDB precincts.

Investors seeking steady rental yields and lower acquisition costs (relative to private property) will find the risk-reward profile suitable, provided lease tenure is adequate and yield expectations are calibrated to market realities rather than aggressive projections. The development's position in a proven rental catchment supports medium-term hold strategies for investors with multi-year time horizons and a tolerance for HDB-specific regulatory and resale dynamics.

Financing, TDSR, and Debt Serviceability

At the S$899,000 entry price point, a typical buyer financing 80% through HDB mortgage or bank loan would require principal drawdown of approximately S$719,200, translating to a monthly loan repayment (over a 25-year tenor at 2.8% typical rates) of roughly S$3,350. Total Debt Servicing Ratio (TDSR) frameworks capped at 60% for HDB mortgages mean that a buyer would need demonstrated gross monthly income of approximately S$5,583 to comfortably service this debt under normal lending criteria. This places the development within reach of dual-income professional households earning mid-to-upper-middle-class salaries, though individual lending decisions depend on credit profile, existing debt obligations, and lender discretion.

Buyers at the upper range of the development's pricing spectrum (approaching S$950,000 or higher) would face proportionally tighter TDSR headroom and should stress-test affordability under rising-rate scenarios or reduced household income. First-time buyer grant schemes and housing subsidy entitlements, if applicable, can improve effective affordability. Financing via banks rather than HDB mortgage may offer competitive rates and faster approval cycles, though loan-to-value terms may be more restrictive than HDB's standard offerings.

Future Supply and Area Development Pipeline

Bishan is a mature, fully-developed planning area with limited greenfield HDB supply anticipated in the medium term. The Urban Redevelopment Authority's planning framework has largely consolidated residential, commercial, and mixed-use zones throughout the district, meaning that new major HDB supply is unlikely to flood the market and suppress existing property values. This supply scarcity provides a passive tailwind to appreciation and rental demand stability, as population growth must be accommodated within existing stock rather than diluted by new builds.

Adjacent growth areas such as Sengkang and Punggol continue to see new launches that may siphon first-time buyer demand away from Bishan at lower price points. However, this same dynamic preserves Bishan's appeal to upgraders and investors seeking established neighbourhoods with proven demand. The district's ageing infrastructure (roads, parks, utilities) may be subject to renewal and upgrading, presenting both opportunities (improved amenities attracting younger residents) and risks (temporary disruption or construction noise during renewal phases) that buyers should monitor through URA announcements and estate management communications.

Conclusion

227 Bishan Street 23 offers a pragmatic entry or upgrade opportunity within Singapore's established HDB heartland, combining proven neighbourhood maturity, reasonable transport accessibility, and accessible pricing at S$899,000 and upwards. The development is best suited to first-time buyers, upgraders, and yield-focused investors who value stability and practical location over trophy appeal or ultra-premium finishes. Careful evaluation of lease tenure, specific unit characteristics, and financing capacity remains essential before commitment, but the fundamental positioning reflects a sound long-term residential or investment thesis anchored in central Singapore's enduring locational premium.

Frequently Asked Questions

What is the estimated gross rental yield for units at 227 Bishan Street 23?

Gross rental yields for HDB properties at this location typically range between 2.5% to 3.5% annually, with 3-bedroom units commanding monthly rents between S$2,400 and S$3,200 depending on floor level, orientation, and lease condition. This translates to a gross yield of approximately 2.9% to 3.4% on a S$899,000 purchase price at the lower end of these rent ranges. Net yields after accounting for property tax, maintenance reserves, and occasional repairs are typically 1.5% to 2.2%, making the development suitable for long-term investor profiles seeking steady income rather than capital gains acceleration. The area's established rental demand and lack of planned major new HDB supply in the immediate vicinity provide stability for rental portfolios, though individual tenant quality and lease discipline remain critical operational variables.

How does pricing at 227 Bishan Street 23 compare to recent per-square-foot transactions in Bishan?

Recent Bishan HDB resale transactions for comparable 3-bedroom units have ranged from approximately S$780 to S$840 per square foot, with the S$899,000 entry price at 227 Bishan Street 23 (assuming a ~1,130 sqft unit) implying a per-square-foot rate of roughly S$796. This positions the development competitively within the recent market, neither commanding a premium nor appearing distressed. Variations in per-square-foot pricing within the broader Bishan neighbourhood are typically driven by specific unit attributes (floor level, corner unit positioning, remaining lease duration, recent renovations) rather than broad development differences. Buyers evaluating value should compare specific unit details within 227 Bishan Street 23 against recent comparables in adjacent blocks to identify whether particular units offer better or worse value on a like-for-like basis.

What Additional Buyer's Stamp Duty (ABSD) implications apply to second-property buyers at 227 Bishan Street 23?

Singapore Citizens purchasing a second residential HDB property incur ABSD at the current rate of 20%, substantially increasing the effective acquisition cost above the advertised purchase price. On a S$899,000 purchase, second-property ABSD would amount to approximately S$179,800, bringing total acquisition costs closer to S$1,078,800 when combined with legal fees and other transaction costs. In contrast, first-time buyers purchasing their first HDB property benefit from concessional ABSD of 5%, reducing ABSD liability to approximately S$44,950. Non-citizens and permanent residents face different ABSD structures and ownership restrictions, often including higher ABSD rates or outright property ownership prohibitions depending on their status. Any buyer evaluating 227 Bishan Street 23 should calculate ABSD liability as a critical component of affordability analysis, as the 20% ABSD for second-property citizens materially alters the effective cost basis and financing requirement.

How does lease decay affect resale value and financing for 227 Bishan Street 23 properties?

HDB lease tenure (typically 99-year or 999-year) directly influences financing terms and long-term value retention. A 99-year lease, if currently possessing a remaining duration below 80 years, experiences accelerating value depreciation as the lease tail shortens, reducing per-unit valuations and tightening lender risk appetite. Banks and HDB mortgage schemes often cap financing tenure at 65-75 years remaining lease, meaning a buyer acquiring a property with 70 years remaining might only secure a 20-year mortgage tenor, requiring substantially higher monthly repayments to clear the debt before lease expiry. Properties approaching the 30-year remaining lease threshold face restricted buyer pools, as many owner-occupier and investor profiles avoid near-lease-expiry assets. Conversely, 999-year leases or longer exhibit negligible decay over typical 20-40 year ownership horizons, aligning with freehold value retention psychology. Buyers must verify the precise remaining lease duration at 227 Bishan Street 23 before purchase, as this parameter directly affects financing structure, resale timeline assumptions, and long-term capital preservation.

How does proximity to NS17 Bishan MRT Station influence demand and capital appreciation for 227 Bishan Street 23?

Located approximately 1.13 kilometres (14 minutes walk) from NS17 Bishan MRT Station, the development benefits from strong transport connectivity without sitting at the ultra-premium pinch-point that commands extreme valuations. The dual-line interchange nature of Bishan Station (North-South and Circle Lines) enhances travel optionality and appeals to professionals commuting to the CBD or across multiple corridors of the island. This moderate distance typically supports steady capital appreciation aligned with broader HDB market movements and Bishan neighbourhood dynamics, rather than the supernormal appreciation often seen in sub-400-metre MRT catchments. The MRT proximity underpin rental demand from employed professionals and families valuing commute convenience, particularly for professionals in finance, law, or central business operations. However, the non-extreme MRT distance means that appreciation is unlikely to be driven by MRT-proximity arbitrage alone; instead, it reflects neighbourhood maturation, supply scarcity, and broader economic cycles. Investors should avoid over-weighting MRT proximity as a capital appreciation driver and instead assess the development's suitability based on rental yield stability and gradual value accumulation.

Which buyer profiles are best suited to purchasing at 227 Bishan Street 23?

First-time buyers benefit significantly from the development's accessible entry pricing (from S$899,000), established neighbourhood character with proven rental and resale history, and absence of ABSD penalties (5% concessional rate applies). Owner-occupier upgraders transitioning from smaller units to larger family configurations find appeal in the development's supply of multi-bedroom units and stable, walkable neighbourhood supporting family living. Yield-focused investors with 5-10+ year time horizons benefit from steady rental demand in Bishan's established tenant pool, lower acquisition costs than private property, and lease-decay-insulated portfolios if 999-year tenures are available. High-net-worth individuals and trophy-asset seekers may find the development less compelling, as the absence of luxury finishes, newness appeal, or ultra-prime MRT adjacency reduces luxury market positioning. Young professionals and downsizers seeking smaller units or studio formats may find better value in newer HDB launches in growth areas. The development's broad appeal lies in its fit for practical, value-conscious buyer cohorts prioritising neighbourhood stability and financing accessibility over prestige or lifestyle upgrade premiums.

What TDSR and financing headroom are available at typical 227 Bishan Street 23 price points?

At the S$899,000 entry price point, a buyer financing 80% requires a loan of approximately S$719,200. Over a standard 25-year HDB mortgage at typical rates (~2.8%), monthly repayments approximate S$3,350. HDB TDSR frameworks cap debt servicing at 60% of gross monthly income, requiring demonstrated income of approximately S$5,583 monthly (or S$67,000 annually) to qualify comfortably. Dual-income professional households earning combined salaries in the S$120,000-S$150,000 range would typically have adequate TDSR headroom, whilst single-income earners in professional or mid-management roles may approach tighter margins. Buyers at higher price points within the development's range (approaching S$950,000) face proportionally reduced TDSR headroom; at S$950,000 with 80% financing, monthly repayments reach approximately S$3,500, requiring household income above S$70,000 annually. First-time buyer grants and housing subsidies improve effective affordability. Stress-testing affordability under rising interest rates (+0.5-1% scenarios) and lower rental income assumptions is prudent for investment-focused buyers, as servicing capacity erodes rapidly if income stability diminishes.

How do competing HDB developments in the Bishan and Central region compare to 227 Bishan Street 23?

Within Bishan, competing HDB blocks of similar age and configuration command broadly comparable pricing (S$850,000-S$950,000 range for 3-bed units), with differentiation driven by specific unit attributes rather than development-wide pricing gaps. Newer HDB launches in adjacent growth areas such as Sengkang and Punggol offer lower entry pricing (S$650,000-S$800,000 for comparable units) but lack Bishan's established transport infrastructure, retail density, and neighbourhood maturity. Ultra-central HDB precincts near the CBD (Tiong Bahru, Tanjong Pagar, Clementi) command significant premiums reflective of geography scarcity and extreme MRT adjacency, with pricing often 40-60% higher than Bishan comparables. Private property developments in the Bishan vicinity (e.g. Thomson, Macquarie) target upmarket buyer cohorts with pricing entirely disconnected from HDB comparison baselines. 227 Bishan Street 23's competitive positioning reflects a balanced offering—mature neighbourhood, proven rental demand, accessible pricing—without the newness premiums of growth areas or the trophy appeal of CBD-proximate precincts. Buyers should evaluate whether mature, central Bishan appeals more than newer, further-out growth areas, as this preference primarily determines competitive positioning rather than price-based comparability.

Which unit stacks and floor levels at 227 Bishan Street 23 typically offer better value?

Within HDB blocks, mid-floor units (typically floors 5-15 in medium-rise blocks) command the most balanced pricing relative to unit quality, as they avoid ground-floor noise and parking-area exposure whilst remaining accessible by stair climbing or lift waiting times. Lower floors (1-4) often discount 5-10% relative to mid-floor equivalents due to noise, privacy, and dust exposure concerns, but can appeal to elderly residents or those prioritising stair avoidance. Higher floors (16+) typically command 3-8% premiums for light, privacy, and perceived safety, though not to the extreme premiums seen in luxury private developments. Corner units within any floor typically premium 5-12% over equivalent internal units due to increased light and reduced shared wall exposure, though this premium is not universal and depends on specific orientation and view quality. Units facing quiet internal courtyards or landscaped areas outperform units facing busy roads or carpark areas by similar premiums. For investment yield maximisation, mid-floor units in non-premium stacks offer the lowest price-per-square-foot, maximising gross rental yield, though investor preference often skews toward corner or higher-floor units despite lower yield percentages. Buyers should examine specific unit layouts, exposures, and remaining lease information within 227 Bishan Street 23 rather than relying on floor-level generalisations, as individual stack characteristics vary significantly.

What is the future supply pipeline for HDB developments in the Bishan and Central region?

Bishan is a mature, fully-developed planning area with limited to negligible greenfield HDB supply anticipated within the medium term (5-10 years). The Urban Redevelopment Authority's planning framework has largely locked in residential, commercial, and mixed-use zoning throughout the district, precluding major new HDB launches that would dilute existing supply or suppress valuations. In contrast, growth areas such as Sengkang, Punggol, Yishun, and Woodlands continue to see planned HDB supply that may attract first-time buyer demand at lower entry pricing, potentially moderating Bishan's upside appreciation but also reinforcing its appeal to upgraders seeking established neighbourhoods. Private residential supply in the Bishan vicinity is limited by land scarcity and zoning constraints, reducing direct competition for the HDB market segment. Neighbouring planning areas and estate renewal projects (e.g. Tiong Bahru, Jalan Besar precinct upgrading) may see supply increases that could theoretically compete for upgrader demand, though these compete at materially different price points and neighbourhood characters. The absence of imminent major supply in Bishan provides passive tailwind to existing property values and rental demand stability, supporting medium to long-term wealth preservation for 227 Bishan Street 23 investors and owner-occupiers. Buyers should monitor URA's long-term planning announcements and estate-renewal initiatives for potential disruptive supply or neighbourhood character changes.

227 Bishan Street 23 — From S$899K