Type

Units

Min Area

Price Range

4 BR

1442 sqft

S$1.1M

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$1.1M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$220K on this acquisition.
Located 12 min (1.04 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.

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229 Bishan Street 23: A Mature HDB Development in Singapore's Premier Residential Estate

Bishan has long been recognised as one of Singapore's most desirable residential districts, and 229 Bishan Street 23 exemplifies the quality and accessibility that have made this area a magnet for families, professionals, and investors alike. Situated within the established Bishan residential precinct, this development benefits from decades of urban planning that prioritised community infrastructure, green spaces, and seamless connectivity to the island's transport network.

The development's location places residents within striking distance of NS17 Bishan MRT Station, positioned just over one kilometre away and accessible via a short 12-minute walk. This proximity to the North-South Line (NSL) is a defining advantage, offering commuters direct access to the Central Business District, key employment nodes across the island, and major shopping and entertainment hubs. For those who favour private transport, the estate's road network integrates smoothly with major arterial roads, facilitating efficient travel across Singapore.

Unit Configurations and Space Standards

The units at 229 Bishan Street 23 feature thoughtfully designed floor plans that cater to diverse household compositions. Multi-bedroom configurations provide ample living space, with total areas reaching approximately 1,442 square feet in larger units, allowing families to accommodate children, guests, or home-based work arrangements without compromise. Dual bathrooms in many units represent modern living standards, reducing morning congestion and adding practical convenience for households of varying sizes. The building design reflects HDB's consistent commitment to maximising natural light, cross-ventilation, and functional layouts that have proven resilient and popular across multiple generations of owners and tenants.

Strategic Bishan Location and Neighbourhood Amenities

Beyond transport links, the Bishan precinct itself constitutes a complete living ecosystem. The area hosts established primary and secondary schools, making it particularly attractive to families with school-age children. Shopping and dining options are plentiful, anchored by major retail centres within a short drive or bus ride. Healthcare services, including polyclinics and private clinics, are readily accessible, and community centres offer recreational programmes for residents of all ages. The proximity to Bishan Park, with its running tracks, cycling paths, and green spaces, appeals to health-conscious buyers seeking an active lifestyle without venturing far from home.

Market Positioning and Investment Appeal

HDB flats in Bishan have consistently attracted multiple buyer segments: first-time purchasers seeking affordability and stability, upgraders trading up from smaller units to larger configurations, and investors recognising the rental potential in a well-established, transport-connected location. The Bishan market has demonstrated resilience across economic cycles, reflecting the enduring appeal of its location and the structural demand from families prioritising proximity to schools and employment centres. Units at 229 Bishan Street 23 compete effectively against newer developments in outer rings, offering established infrastructure and proven community vibrancy at more accessible price points.

Lease Tenure and Long-Term Value Considerations

As an HDB development, 229 Bishan Street 23 operates under a 99-year leasehold framework, a standard that has proven robust for capital preservation and resale demand across Singapore's public housing sector. The age and progression of the lease are factors that informed buyers should monitor as part of long-term financial planning. HDB's Home Improvement Programme (HIP) and other renewal initiatives have historically supported value maintenance in mature estates, and Bishan's strategic location and dense community infrastructure suggest continued resilience even as the lease progresses into later decades. Prospective buyers should factor lease decay into their exit strategy and financing decisions, particularly for investment purposes.

Financing, Affordability, and Buyer Profiles

The pricing across available units creates opportunities for different buyer segments. First-time buyers benefit from HDB's concessional financing schemes and lower down-payment requirements, making entry into homeownership more achievable. Upgraders moving from smaller or older units find attractive value propositions when trading up to the spacious configurations available here. Investors evaluating rental yields should note that Bishan's reputation and transport connectivity typically support steady tenant demand and reasonable monthly yields, though returns depend on purchase price, unit configuration, and prevailing rental market rates. Buyers considering a second property purchase will be subject to Additional Buyer's Stamp Duty (ABSD) at 20% for Singapore Citizens, a cost that should be factored into total acquisition expenses and return calculations.

Competitive Positioning Within the Bishan Estate

The Bishan estate encompasses numerous HDB blocks developed across different decades, each with distinct characteristics. Blocks built in earlier phases often offer larger unit configurations at competitive prices, though newer developments may incorporate modern finishing touches. 229 Bishan Street 23, as an established block, occupies a middle ground: it has benefited from years of community establishment and proven market demand, whilst still offering value relative to newly completed projects in the district. Comparing rental yields, resale velocity, and price appreciation trends across similar blocks in Bishan provides useful context for evaluating whether this location aligns with individual investment timelines and return expectations.

Sustainability and Future Outlook

Bishan's planning pedigree and continuous urban renewal initiatives suggest that the district will remain a focal point for residential development and infrastructure investment. The consistent introduction of new facilities, coupled with HDB's ongoing enhancement programmes for mature estates, indicates that buyer interest and property values are likely to remain supported over the medium to long term. The MRT connectivity, in particular, has proven to be a durable value driver; locations within walking distance of MRT stations consistently outperform those requiring longer commutes, making 229 Bishan Street 23's proximity to NS17 a structural asset.

Whether purchased as a primary residence, an upgrading move, or an investment, 229 Bishan Street 23 represents a practical, well-located option within Singapore's mature housing landscape. Its combination of established community infrastructure, transport accessibility, and competitive pricing makes it a worthy contender for buyers seeking stability, convenience, and long-term value retention in one of the island's most trusted residential postcodes.

Frequently Asked Questions

What rental yield can I expect if I purchase a unit at 229 Bishan Street 23 as an investment property?

Rental yields at 229 Bishan Street 23 typically range between 3% and 4% gross annually, depending on unit configuration, exact location within the block, and prevailing rental market rates. Bishan's reputation as a family-oriented, well-planned estate with strong transport connectivity attracts consistent tenant demand, particularly from young professionals and families seeking convenient access to the CBD and major employment hubs via the North-South MRT Line. Investors should conduct a detailed rental feasibility study based on recent comparable lettings in the immediate area; whilst the location supports steady occupancy, actual yields will vary based on purchase price, unit size, and lease terms negotiated at the time of rental.

How does the price per square foot at 229 Bishan Street 23 compare to recent transactions in Bishan?

HDB flats in Bishan typically command price-per-square-foot (psf) values ranging between S$700 and S$850 depending on unit age, condition, floor level, and specific location within the estate. Units at 229 Bishan Street 23, as an established block with proven demand, generally trade at the mid-to-upper end of this range, reflecting the stability and transport connectivity the development offers. Recent transactions in comparable blocks within Bishan suggest that pricing here is competitive, though buyers should obtain a property valuation report and review multiple recent sales data to confirm alignment with current market conditions, as psf values can shift quarterly based on supply-demand dynamics.

What are the Additional Buyer's Stamp Duty (ABSD) implications if I purchase 229 Bishan Street 23 as a second property?

If you are a Singapore Citizen purchasing 229 Bishan Street 23 as a second residential property, you will be liable for Additional Buyer's Stamp Duty (ABSD) at the rate of 20% on the purchase price, in addition to standard Buyer's Stamp Duty. For a property priced at S$1.098 million, the ABSD alone would amount to approximately S$219,600, representing a substantial cost that must be factored into your total acquisition budget and financing calculations. This duty is payable upfront during the completion process and cannot be financed through a mortgage; therefore, you must ensure sufficient liquid capital is available. Second-property buyers should discuss ABSD implications with a conveyancing lawyer early in the purchase process to understand the full cost of acquisition and adjust their financial planning accordingly.

What is the lease decay risk at 229 Bishan Street 23, and how will it affect long-term resale value?

As an HDB flat on a 99-year leasehold, 229 Bishan Street 23 will experience lease decay as the lease periods progress; however, HDB flats have historically demonstrated remarkable resilience due to the Government's support mechanisms and the social housing framework. The Bank of Singapore and financial institutions typically maintain lending appetite for HDB flats down to approximately 60 years remaining on the lease, though loan tenure may be reduced and valuations may adjust downward as lease length contracts. Bishan's prime location and established infrastructure suggest that even as the lease ages, the property will retain underlying value; however, buyers should monitor the lease progression and factor potential lease decay into their long-term exit strategy. The HDB Lease Buyback Scheme offers tenants the opportunity to trade the flat back to HDB in later life, providing an alternative exit option if resale becomes challenging due to lease maturity.

How does proximity to NS17 Bishan MRT Station influence demand and capital appreciation for 229 Bishan Street 23?

Proximity to MRT stations is one of the most powerful determinants of property demand and long-term capital appreciation across Singapore's residential market, and 229 Bishan Street 23's location within a 12-minute walk (approximately 1.04 km) of NS17 Bishan MRT Station represents a significant structural advantage. Properties within 1 kilometre of MRT stations historically achieve faster turnover, command higher prices per square foot, and experience more stable capital appreciation than comparable properties requiring longer commutes. The North-South Line itself is a major arterial route connecting residential zones to the CBD, universities, hospitals, and shopping destinations, ensuring that commuter demand remains consistently strong. Buyers should expect the MRT proximity to underpin sustained interest from both owner-occupiers and investors, though any future disruption to MRT services or major supply additions in the immediate vicinity could influence demand trajectories.

Is 229 Bishan Street 23 suitable for first-time homebuyers, upgraders, and investors?

229 Bishan Street 23 appeals to all three buyer segments for distinct reasons. First-time buyers benefit from HDB's concessional financing schemes, lower down-payment requirements (typically 5% to 10%), and the psychological comfort of purchasing in a mature, proven estate with strong community infrastructure and transparent market comparables. Upgraders moving from smaller HDB units or older private residential stock appreciate the spacious multi-bedroom configurations, dual bathrooms, and the established amenity base without the premium pricing of new developments. Investors recognise the reliable tenant demand driven by transport connectivity, family-friendly location, and the steady capital preservation track record of Bishan properties. The diversity of buyer interest typically translates into liquid resale markets and shorter time-to-sale, making 229 Bishan Street 23 a lower-risk proposition for all three categories.

What are the TDSR and financing headroom considerations at 229 Bishan Street 23's price point?

For a property priced around S$1.098 million, most purchasers will require mortgage financing in the region of S$800,000 to S$900,000 (depending on deposit size and ABSD costs for second-property buyers). The Total Debt Servicing Ratio (TDSR) limit of 60% means that a purchaser must have a combined household monthly income of approximately S$12,000 to S$14,000 to comfortably service the monthly mortgage payments (typically S$4,500 to S$5,500 depending on tenor and interest rate). First-time buyers with HDB concessional rates may achieve slightly better headroom than investors purchasing a second property, and property buyers are advised to stress-test their financing at assumed interest rates 1% to 1.5% above the prevailing rate to ensure resilience against future rate hikes. Engaging a mortgage broker or speaking directly with HDB-approved banks early in the purchase process allows buyers to confirm pre-approval figures and ensure their chosen unit remains affordable within prudent lending criteria.

How does 229 Bishan Street 23 compare to nearby competing HDB developments in the Bishan estate?

Bishan comprises numerous HDB blocks built across multiple decades, each with distinct characteristics in terms of layout, amenities, and pricing. Blocks in earlier phases (1980s–1990s) often feature larger unit sizes relative to newer developments but may lack modern finishes; blocks developed in the 2000s onwards typically incorporate updated kitchen and bathroom fittings at somewhat higher psf costs. 229 Bishan Street 23, as an established block with a well-developed community, occupies a sweet spot between affordability and proven market demand, outperforming newer, ultra-dense developments in the outer rings whilst offering better value than recently completed projects in prime core areas. Comparative analysis of recent sales in competing blocks (e.g., 230 Bishan Street 23, 218 Bishan Street 23) provides context for assessing whether pricing here aligns with market consensus; buyers are advised to request transaction lists from their agent covering the past 12 months to calibrate expectations.

Which unit stack or floor level at 229 Bishan Street 23 offers the best value for money?

Middle-stack units (typically floors 3–8 out of 10–16 floors in HDB blocks) often present optimal value propositions, as they command a modest premium over lower-floor units whilst avoiding the heightened cost of high-floor units with panoramic views. Lower-floor units (1–2 stories) often attract buyers prioritising convenience (shorter stair/lift waits) and lower electricity costs, though they may be subject to street noise and reduced natural light in some configurations. High-floor units command premiums of 5% to 10% but offer superior light, views, and cooler ambient temperatures—benefits that appeal more to lifestyle-focused buyers than to value-oriented investors. For purely investment-focused acquisitions, lower-to-middle-floor units typically deliver superior gross rental yields since tenants tend to be less sensitive to floor level when evaluating rental properties, whilst owner-occupiers often gladly pay premiums for higher-floor preferences; therefore, the investment calculus often favours middle-stack units as a compromise between yield and liquidity.

What is the future supply pipeline for HDB developments in Bishan, and how will it affect 229 Bishan Street 23's property values?

Bishan, as a mature estate, is not anticipated to receive large volumes of new HDB supply in the near to medium term; instead, Urban Redevelopment Authority (URA) planning typically focuses on renewal, rejuvenation, and selective infill development in established precincts. The absence of major competing new supply suggests that 229 Bishan Street 23 will continue to benefit from steady demand without the price-suppression effects that can accompany new project launches in growth areas. However, broader Singapore housing policy trends—such as increased Build-to-Order (BTO) developments in growth regions like Tengah and Punggol—may gradually shift demographic preference towards newer estates, potentially moderating price appreciation in mature locations like Bishan. Investors should monitor HDB's annual supply plans and URA development guideplans to track any announced changes to the district's direction; over a 20-year investment horizon, continued renewal support and transport enhancement are likely to sustain Bishan's appeal despite incremental supply shifts elsewhere on the island.

[For Sale] 229 Bishan Street 23 — From S$1.1M