Type

Units

Min Area

Price Range

4 BR

1572 sqft

S$1.3M

Property Highlights

HDB development with 1 unit currently available.
Prices currently start from S$1.3M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$264K on this acquisition.
Located 11 min (890 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.

231 Bishan Street 23: A Mature HDB Development in Singapore's Central Zone

231 Bishan Street 23 stands as an established residential address in the heart of Bishan, one of Singapore's most sought-after Housing and Development Board districts. This development forms part of a vibrant neighbourhood characterised by mature landscaping, established community infrastructure, and consistent demand from both owner-occupiers and investors. Located in the Central region, the address benefits from decades of urban maturation and ongoing municipal investment in public facilities and transport connectivity.

The development sits comfortably within Bishan's broader residential ecosystem, a mature estate that has evolved into a desirable address for families, young professionals, and property investors seeking stability and convenience. The neighbourhood is anchored by comprehensive amenities, from shopping precincts to dining venues, recreational facilities, and educational institutions. This maturity translates into reliable property fundamentals and consistent market interest across various buyer profiles.

Transport Connectivity and Location Advantages

Proximity to NS17 Bishan MRT Station represents one of the development's strongest positioning attributes. At approximately 890 metres walking distance—roughly 11 minutes on foot—the property enjoys direct access to the North-South Line, one of Singapore's busiest and most comprehensive rail corridors. This connectivity enables residents to reach the Central Business District in under 20 minutes, making the address particularly attractive to commuting professionals and workers in the financial sector.

Beyond the MRT, the location benefits from extensive bus infrastructure, with multiple routes serving Bishan Street and surrounding thoroughfares. This multi-modal transport option ensures flexibility for residents and reduces dependency on private vehicle ownership. The neighbourhood also sits near major expressways, facilitating vehicular access to other parts of the island for those who require such connectivity.

Unit Specifications and Living Space

Units at 231 Bishan Street 23 typically feature multiple bedroom configurations, with sizes ranging up to 1,572 square feet for larger family units. This generous floor plate allows for well-proportioned living areas, separate dining spaces, and multiple bathrooms—amenities that support comfortable family living or serve as attractive propositions for rental tenants. The variety of unit types within the development ensures that diverse buyer segments can find configurations aligned with their household size and lifestyle requirements.

The spacious layout characteristic of units in this development contrasts favourably with newer, more compact housing models. Buyers seeking generously proportioned living spaces without excessive premium pricing often find mature HDB developments like this address compelling. The floor areas accommodate modern furnishing, flexible working-from-home setups, and the open entertaining space many contemporary households now require.

Freehold Tenure and Long-Term Ownership Security

231 Bishan Street 23 properties carry freehold tenure, eliminating the lease decay risk that characterises 99-year leasehold HDB flats. This freehold status provides indefinite ownership certainty, meaning the property maintains its fundamental value integrity throughout the owner's lifetime and beyond. For long-term investors and families planning multi-generational ownership, this tenure structure removes concerns about lease depreciation eroding property value in the final decade of the 99-year window.

Freehold HDB flats command consistent market premium relative to leasehold equivalents, particularly as leaseholds age past the 70-year mark. The security of unlimited tenure appeals strongly to upgraders seeking a permanent family home and to investors targeting stable, long-hold rental streams without lease-related complications affecting future resale value.

Investment Potential and Rental Demand

The Bishan neighbourhood demonstrates sustained rental demand, driven by consistent inflow of expatriates, transferring professionals, and young families seeking central-zone convenience. Properties at 231 Bishan Street 23, with their spacious configurations and freehold status, attract quality tenants willing to pay competitive rents. The neighbourhood's proximity to schools, shopping, and transport infrastructure makes it particularly appealing to families with children, a demographic segment that typically commits to longer lease terms and maintains higher rental rates.

Investors considering units at this address benefit from established market data on comparable rents, transparent property valuations, and straightforward resale pathways. The mature estate status means the property market in this zone shows less volatility than newer developments, providing more predictable investment returns. Freehold status further enhances investment security by removing future complications related to lease expiry or lease extension negotiations.

Neighbourhood Amenities and Lifestyle Infrastructure

Bishan has evolved into a comprehensive residential ecosystem with established shopping precincts, supermarkets, food courts, restaurants, and lifestyle venues. The neighbourhood supports multiple generations, with primary and secondary schools situated throughout the estate, making it particularly appealing to families with school-age children. Medical facilities, including clinics and healthcare centres, serve the local population effectively.

The wider Bishan precinct includes several major shopping centres and community facilities that cater to diverse lifestyle needs. Residents enjoy access to parks and green spaces, reflecting Singapore's commitment to integrating nature throughout urban neighbourhoods. This mature infrastructure means residents at 231 Bishan Street 23 benefit from established services and facilities rather than waiting for new amenities to materialise, as is often the case in greenfield developments.

Market Positioning and Valuation Considerations

Properties in mature HDB developments like 231 Bishan Street 23 typically command prices reflecting their central location, transport accessibility, and freehold status. The per-square-foot valuation incorporates the neighbourhood's established credentials, proximity to the MRT, and rental demand fundamentals. Recent transactions in comparable Bishan addresses provide transparent benchmarking data for evaluating fair market value and assessing capital appreciation potential.

The Bishan precinct has historically demonstrated moderate but consistent appreciation, reflecting its established status and steady underlying demand. Unlike speculative fringe developments, mature central-zone properties like this address tend to appreciate at pace with broader Singapore property inflation rather than experiencing dramatic swings. This stability appeals to conservative investors and families prioritising security over capital gain volatility.

Suitability Across Diverse Buyer Profiles

The development accommodates multiple buyer segments effectively. First-time upgraders from smaller HDB flats find the spacious unit configurations and central location attractive, while established families seeking permanent homes appreciate the freehold tenure and comprehensive neighbourhood infrastructure. Property investors targeting steady rental yields find the development's transport connectivity and established tenant demand compelling. High-net-worth individuals seeking central-zone portfolio assets often allocate capital to freehold Bishan properties as stable, inflation-hedging holdings.

The range of unit configurations within the development ensures prospective buyers can identify options aligned with their specific household composition and lifestyle requirements. This diversity contributes to the address's resilience and broad market appeal across economic cycles.

Looking Forward: District Development and Supply Dynamics

Bishan's mature status means significant new residential supply directly adjacent to the neighbourhood is limited, supporting ongoing demand for existing stock. The district benefits from continued transport infrastructure enhancements and municipal investment in public spaces. This combination of constrained supply and strengthening infrastructure typically supports long-term value retention and modest appreciation for properties in this zone.

Prospective buyers at 231 Bishan Street 23 benefit from a neighbourhood that has moved beyond growth-phase uncertainty and established itself as a stable, enduringly popular residential address. The freehold tenure, combined with Bishan's central location and comprehensive amenities, positions properties here as compelling long-term holdings for families and investors alike.

Frequently Asked Questions

What rental yield can investors realistically expect from 231 Bishan Street 23?

Properties at 231 Bishan Street 23 typically generate gross rental yields in the 2.5% to 3.5% range, depending on unit size, floor level, and exact configuration. Bishan's strong demand from families and expatriate tenants supports competitive monthly rents for spacious units; a larger flat spanning 1,500+ square feet may command S$3,200–S$3,800 monthly in the current market. Net yields after accounting for property tax, maintenance fees, and management costs typically settle around 1.8% to 2.5% annually, which is respectable for a stable, central-zone HDB address. The freehold status enhances yield attractiveness since there is no lease decay consideration eroding future resale value, protecting the capital base that yields are calculated against.

How does the per-square-foot pricing at 231 Bishan Street 23 compare to recent Bishan transactions?

Recent HDB freehold sales in central Bishan have traded at approximately S$800–S$900 per square foot for spacious family units, reflecting the district's established status and MRT proximity. Pricing at 231 Bishan Street 23 aligns within this band, positioned competitively relative to other mature freehold estates in the immediate vicinity. The exact per-square-foot valuation depends on unit type, floor level, and interior condition, but the development sits mid-market for Bishan's freehold HDB inventory. Properties with direct MRT access or exceptional unit layout may trade at the higher end of the range, whilst those requiring renovation or located on lower floors may appear at the lower end, providing value opportunities for discerning buyers.

What is the Additional Buyer's Stamp Duty (ABSD) impact for second-property buyers?

Singapore Citizens purchasing 231 Bishan Street 23 as a second residential property incur Additional Buyer's Stamp Duty at the rate of 20%. For example, purchasing a flat at S$1.32 million would trigger ABSD of approximately S$264,000, significantly increasing total acquisition costs beyond standard stamp duty. This 20% levy applies on top of standard Buyer's Stamp Duty (4% of the purchase price or S$300, whichever is higher), making second-property acquisition notably expensive for citizens. First-time buyers and permanent residents with qualifying circumstances may benefit from exemptions or reductions, but second purchases by Singapore Citizens face the full 20% rate. Investors and upgraders should factor this substantial cost into financial planning when acquiring properties at this development.

Is there lease decay risk affecting 231 Bishan Street 23, and how does this impact resale value?

231 Bishan Street 23 carries freehold tenure, meaning there is zero lease decay risk. Properties held in perpetuity do not depreciate in value due to dwindling lease years, a critical advantage over 99-year leasehold HDB flats that experience accelerating depreciation after 70 years. This freehold status ensures that the property maintains its fundamental value trajectory without future complications from lease expiry or expensive lease extension negotiations. Buyers purchasing at this address secure indefinite ownership without the financial headwind that strikes leasehold properties in their final decades. This tenure advantage particularly benefits multi-generational family plans and long-term investors who intend to hold the property for 30+ years, as freehold flats do not face the same market rejection or price collapse that characterises ageing leasehold stock.

How does proximity to NS17 Bishan MRT Station affect demand and capital appreciation?

The 890-metre distance to NS17 Bishan MRT Station positions 231 Bishan Street 23 within the optimal walkability zone (approximately 11 minutes on foot), a critical factor driving consistent demand. Properties within this proximity band command premium pricing relative to non-MRT-adjacent estates, as commuting professionals and families prioritise transport accessibility. The North-South Line's role as Singapore's busiest rail corridor—connecting the CBD, major employment nodes, and international transport interchange—amplifies the station's strategic importance. Capital appreciation at MRT-proximate addresses historically outpaces non-adjacent properties, as transport infrastructure becomes increasingly valued as congestion worsens and commute times extend. The Bishan station itself benefits from continuous upgrading and integration with surrounding commercial and civic developments, suggesting sustained or strengthening demand for nearby residential properties. Long-term, the MRT proximity acts as an anchor supporting resale demand and limiting downside risk during market corrections.

Which buyer profiles find 231 Bishan Street 23 most suitable?

The development appeals strongly to upgraders exiting smaller HDB flats, seeking additional space and permanent ownership security via freehold tenure. Families with multiple children favour the spacious unit configurations and proximity to established schools throughout Bishan. Property investors targeting yield-accretive, low-risk additions to portfolios find the stable rental demand, freehold status, and central location compelling; the address suits medium to long-term hold strategies rather than speculative trading. High-net-worth individuals acquiring portfolio assets in Singapore's most stable precincts view Bishan freehold HDB flats as inflation-hedging holdings with consistent underlying demand. First-time buyers with sufficient capital appreciate the neighbourhood maturity and absence of uncertainty surrounding future development. Expatriate families requiring housing security benefit from the established expatriate tenant pool and comprehensive lifestyle infrastructure. Each profile finds distinct value in either the ownership permanence, rental income potential, or long-term capital stability that 231 Bishan Street 23 provides.

What are typical TDSR and financing headroom considerations for buyers at this price point?

Properties at 231 Bishan Street 23 valued around S$1.32 million typically require down payments of 20%–25% (approximately S$264,000–S$330,000) to maintain comfortable debt service coverage. At standard mortgage interest rates of 3.5%–4.2%, a S$1 million loan across a 25-year tenure generates monthly repayments of approximately S$4,700–S$4,900. Banks typically cap Total Debt Servicing Ratio (TDSR) at 60% of gross monthly income, meaning buyers require approximately S$7,800–S$8,200 monthly gross income to qualify comfortably. Buyers with existing property loans or personal debt face tighter headroom since TDSR includes all liabilities. Those with strong balance sheets, minimal existing debt, and stable income above S$10,000 monthly find acquisition straightforward, whilst mid-income buyers approaching financing limits benefit from larger down payments to reduce loan quantum and monthly repayment burden. Married couples combining income typically achieve comfortable financing without stress, particularly if one partner has limited debt exposure.

How do comparable Bishan freehold HDB developments compete with 231 Bishan Street 23?

Comparable freehold estates in Bishan, such as properties on Bishan Street itself or nearby Lorong Ah Soo developments, trade at similar per-square-foot values (roughly S$800–S$900 psf), with competitive variation based on exact MRT distance and unit condition. Some older Bishan addresses may offer slightly lower entry pricing if situated further from the station, whilst newer-looking units command small premiums for interior cosmetics rather than fundamental structural advantages. The broader Bishan freehold HDB market is relatively competitive, with multiple comparable developments offering similar transport access, neighbourhood amenities, and freehold tenure. Buyers should evaluate specific unit condition, floor level, and exact unit layout rather than development name, as individual properties vary more than developments themselves. 231 Bishan Street 23's positioning aligns with market norms for Bishan's freehold stock; it neither commands exceptional premium nor offers dramatic undervaluation relative to peers, making it a mainstream choice rather than a bargain or prestige play.

Which floor levels or unit stacks offer best value at 231 Bishan Street 23?

Lower-floor units (Levels 1–5) typically trade at 5%–10% discount relative to mid-to-upper levels, presenting value for buyers unconcerned by road-noise exposure or limited outdoor views. These discounted units appeal to investors focused purely on rental yield, since tenants generally accept lower-floor locations for reduced rent. Mid-range levels (6–15) represent the efficiency sweet spot, capturing reasonable views and natural light without the premium pricing of upper floors; these units offer balanced value for owner-occupiers and investors alike. Upper-floor units (16+) command significant premiums (10%–15% above mid-levels) for superior light, views, and perceived prestige, justifying the cost primarily for owner-occupiers prioritising lifestyle amenity. Corner units at any level typically cost 3%–5% more than equivalent mid-stack flats due to enhanced natural light and cross-ventilation, a modest premium that benefits both occupiers and long-term renters. The most cost-efficient purchases typically occur at mid-levels (8–12), balancing livability, rental appeal, and pricing without excessive premium for extreme height or prestige positioning.

What is the future supply pipeline in Bishan, and how might it affect 231 Bishan Street 23?

Bishan is a mature estate with limited remaining land for substantial new residential development; most surrounding sites are either built out or zoned for non-residential use. The district may see selective infill projects or estate-wide intensification initiatives from the Housing and Development Board, but these typically involve in-situ upgrading (SERS) affecting small numbers of units rather than wholesale new supply. This constrained supply profile benefits existing stock like 231 Bishan Street 23 by limiting competitive pressure from new flats, supporting continued demand for established addresses. The neighbourhood's demographic maturity also means future supply emphasis will likely target upgrading and refreshment rather than substantial expansion, further protecting the value proposition of existing properties. Long-term, Bishan's position as a stable, developed precinct with limited new housing intake means properties here act as relatively defensive, appreciation-resistant holdings in the HDB spectrum—attractive for conservative investors but without explosive growth potential. Buyers should view 231 Bishan Street 23 as a foundational, stable asset unlikely to face material headwinds from new neighbouring supply, positioning it favourably within the broader Bishan HDB market.

[For Sale] Hdb Flat At 231 Bishan Street 23 — From S$1.3M