Type

Units

Min Area

Price Range

3 BR

1130 sqft

S$789K

Type

Units

Min Area

Price Range

3 BR

1130 sqft

S$3,800/mo

Property Highlights

HDB development with 2 units currently available.
Prices currently range from S$3,800 to S$789K.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$760 on this acquisition.
50% of current units are for sale, from S$789K; 50% are for rent, from S$3,800/mo.
Located 13 min (1.1 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.

232 Bishan Street 22: A Mature HDB Development in Singapore's Central Zone

232 Bishan Street 22 represents one of Singapore's established residential addresses, positioned in the vibrant Bishan district where decades of community development have created a stable, well-serviced neighbourhood. This HDB development offers prospective buyers and investors the opportunity to secure properties in a location that has demonstrated consistent demand and reliable capital appreciation over time. The project comprises multiple units across various configurations, catering to diverse household compositions and lifestyle requirements.

Located in the heart of Bishan, this development benefits from its integration within one of Singapore's most successfully planned residential precincts. The neighbourhood has matured considerably, with comprehensive infrastructure, educational institutions, and recreational facilities now deeply embedded within the community fabric. Residents enjoy easy access to the thriving Bishan Central area, where shopping, dining, and leisure amenities cluster within walking distance or a short bus ride.

Connectivity and Location Advantages

The proximity to NS17 Bishan MRT station—approximately 13 minutes' walk or 1.1 kilometres away—ensures residents maintain reliable connections to Singapore's broader public transport network. This accessibility has historically been a cornerstone of property values across the Bishan corridor, as it enables commuters to reach business districts, shopping destinations, and secondary residential areas with minimal friction. The station's position on the North-South Line reinforces Bishan's role as a central hub within Singapore's urban geography.

Beyond the MRT link, the development's location capitalises on Bishan's extensive bus network, making it straightforward for residents to access destinations not directly served by the North-South Line. The neighbourhood's road infrastructure has been continuously upgraded to support the residential population, and modern traffic management systems keep congestion manageable during peak periods. For vehicle owners, nearby carparks and road access points reduce the friction typically associated with urban living.

Housing Profile and Space Specifications

Units within 232 Bishan Street 22 feature thoughtful spatial arrangements designed to maximise livability and functionality. Three-bedroom configurations provide ample room for established families, offering layouts that typically accommodate main and secondary bedrooms alongside separate dining and living zones. With individual units spanning approximately 1,130 square feet, these properties deliver the internal volume necessary for comfortable family life without the constraints sometimes found in older, smaller HDB designs.

The two-bathroom provision across units reflects contemporary expectations for residential convenience, particularly important in households with multiple occupants or those seeking guest accommodation flexibility. Open-plan design elements, where present, create visual spaciousness and facilitate flexible furniture arrangements that adapt to evolving lifestyle needs. Storage considerations have been integrated throughout unit designs, addressing a persistent concern for Singapore homeowners managing multiple generations or hobbies within finite space.

Pricing and Investment Considerations

The development's pricing structure, commencing from S$788,888 and varying according to unit configuration and floor position, positions these properties competitively within the broader Bishan HDB market. This pricing reflects the area's maturity, established amenity base, and proven track record of value retention across market cycles. For upgraders transitioning from smaller or older properties, 232 Bishan Street 22 offers compelling value relative to newer, outer-ring developments that lack equivalent infrastructural density.

Prospective investors evaluating this development should note that HDB properties typically deliver rental yields between 2.5% and 3.5% when calculated against current market values, though actual performance depends on unit-specific factors including floor level, facing, and internal layout. The stable neighbourhood demographics and established rental demand from professionals, young families, and expatriates support consistent tenant acquisition. Bishan's reputation as a residential destination—rather than a speculative growth zone—suggests that capital appreciation will proceed at modest but reliable rates aligned with Singapore's long-term property fundamentals.

Tenure and Long-Term Ownership Benefits

As an HDB development, 232 Bishan Street 22 properties are held on freehold tenure, eliminating the lease decay risk that characterises private residential developments nearing the end of their initial 99-year leasehold terms. This indefinite ownership structure removes the mathematical certainty of declining asset value as lease tenure shortens, a significant advantage for buyers focused on intergenerational wealth preservation. Freehold status also simplifies financing and refinancing arrangements, as lenders perceive substantially lower risk profiles compared to leasehold properties approaching tenure milestones.

The freehold structure particularly benefits young first-time buyers whose purchase decisions may be influenced by long-term ownership horizons. A property acquired at age 35 and held through retirement maintains full residual value throughout the owner's lifetime and beyond, a guarantee impossible with conventional leasehold arrangements. This certainty underpins Bishan's continued appeal to multi-generational family buyers who view property acquisition as a lasting commitment rather than a speculative position.

Community Infrastructure and Neighbourhood Character

Bishan's maturity brings tangible benefits rarely present in newly-developed precincts. Primary and secondary schools have been operational across the district for decades, allowing families to make choices based on established educational track records rather than speculative projections. Healthcare facilities, from polyclinics to private medical practices, operate throughout the neighbourhood, ensuring medical emergencies receive rapid professional response. Green spaces, including Bishan Park—Singapore's largest neighbourhood park by area—provide residents with recreational amenities that newer developments often struggle to replicate.

The commercial ecosystem within Bishan has evolved organically to serve resident preferences, producing diverse retail and hospitality options that reflect authentic community demand rather than developer-mandated blueprints. Local hawker centres, supermarkets, and specialty retailers operate with the efficiency that only long-established markets can achieve. This maturation creates a living environment characterised by convenience and familiarity rather than the occasional disconnects between new development amenity offerings and actual resident preferences.

Market Positioning and Comparative Value

Within the broader Bishan HDB landscape, 232 Bishan Street 22 occupies a competitive position that balances unit size, configuration, and accessibility. Properties at comparable price points in adjacent developments often feature smaller useable areas or less convenient MRT proximity, making this address particularly attractive for space-conscious buyers. The Bishan Street location itself carries established desirability, reflecting the street's historical importance within the neighbourhood and the stability of properties fronting it.

Recent transaction data across Bishan's HDB stock suggests that per-square-foot pricing typically ranges between S$700 and S$800, positioning 232 Bishan Street 22 well within market expectations. Units with superior facing, higher floor levels, or unit stacks positioned away from primary roads command incremental premiums, yet even base configurations maintain strong value retention characteristics. This pricing consistency reinforces Bishan's function as a reliable residential destination where emotional appeal and commercial sensibility align.

Financing and Affordability Framework

For Singapore citizens purchasing their first HDB property, financing conditions remain exceptionally favourable, with most institutional lenders offering 90% loan-to-value mortgages across 30-year repayment terms. At the development's entry price point of S$788,888, a buyer contributing 10% equity would require approximately S$78,889 in cash whilst borrowing S$710,000, resulting in monthly repayment obligations of roughly S$3,100 under typical interest rate scenarios. These repayment obligations fall well within the 30% Debt-to-Income Ratio threshold that most lenders apply, suggesting strong financing accessibility for employed residents with stable income profiles.

Second-property purchasers should anticipate Additional Buyer's Stamp Duty obligations equivalent to 20% of the purchase price for Singapore citizens, substantially increasing acquisition costs beyond the headline property figure. At S$788,888, ABSD would total approximately S$157,778, requiring meaningful additional capital allocation. This duty structure meaningfully shifts the financial calculus for investors, as it reduces available capital for renovation or reserves whilst increasing the minimum rental yield required to justify the investment thesis relative to alternative deployment strategies.

Future Demand Drivers and District Evolution

The Bishan district continues to benefit from Singapore's long-term planning frameworks, with continued focus on maintaining and enhancing neighbourhood amenities. Planned improvements to transport infrastructure, including bus service optimisation and pedestrian connectivity enhancements, will further strengthen accessibility advantages currently enjoyed by residents. As surrounding developments continue to mature and as younger cohorts age into family formation stages, demand from upgraders moving within Bishan should remain consistent, supporting stable property values.

The relative stability of Bishan's supply pipeline—with limited new HDB construction planned for immediate years—suggests that existing properties like those at 232 Bishan Street 22 will face persistent resident demand from both owner-occupiers and investors. This constrained supply environment, combined with the development's mature, fully-established character, creates conditions supportive of measured capital appreciation aligned with broader Singapore economic fundamentals and inflation trends.

Frequently Asked Questions

What is the estimated rental yield for properties at 232 Bishan Street 22 if purchased as an investment?

HDB properties across the Bishan district typically generate gross rental yields between 2.5% and 3.5% when calculated against current market purchase prices, though actual performance varies based on specific unit characteristics including floor level, internal layout, and directional facing. For a property purchased at S$788,888, a 3% yield would generate approximately S$23,667 in annual rental income, translating to roughly S$1,972 monthly rent at prevailing market rates. The stability of Bishan's tenant demand—driven by established professional populations, young families, and expatriate assignments—supports consistent tenant acquisition without extended vacancy periods, making yield projections relatively reliable. Investors should note that HDB-specific property management costs remain lower than private residential equivalents, enhancing net yield outcomes after accounting for maintenance, servicing, and administrative expenses.

How does per-square-foot pricing at 232 Bishan Street 22 compare to recent transactions in Bishan?

Recent HDB transactional data across the broader Bishan precinct indicates per-square-foot pricing typically ranges between S$700 and S$800, depending on unit age, configuration, floor position, and directional orientation. At 232 Bishan Street 22 with units spanning approximately 1,130 square feet, the headline price of S$788,888 translates to approximately S$698 per square foot, positioning the development at the lower end of Bishan's established price range. This relatively attractive per-square-foot basis reflects the maturity of the development and its location along a primary arterial street, where comparable recent transactions across adjacent Bishan Street addresses have achieved similar pricing metrics. Buyers comparing this development to newly-completed or recently-refurbished HDB projects should note that newer developments typically command 10-15% per-square-foot premiums despite offering similar fundamental amenities, making 232 Bishan Street 22 exceptional value for space-conscious purchasers.

What is the Additional Buyer's Stamp Duty impact for second-property buyers at this development?

Singapore citizens purchasing a second residential property are obligated to pay Additional Buyer's Stamp Duty at the current rate of 20% of the purchase price, regardless of whether the property is intended for owner-occupation or investment purposes. For a property at 232 Bishan Street 22 priced at S$788,888, ABSD would total approximately S$157,778, substantially increasing total acquisition costs beyond the headline purchase price. This duty must be discharged at the point of purchase, requiring buyers to secure this capital independently of the property mortgage financing, which typically covers only the property acquisition cost itself. For investors, this substantial upfront impost meaningfully increases the total capital commitment and influences minimum rental yield thresholds required to justify the investment relative to alternative asset deployment strategies, whilst also delaying the point at which cumulative rental income offsets acquisition costs.

Does lease decay present a risk to long-term resale value, and how does freehold tenure benefit owners?

232 Bishan Street 22 properties carry freehold tenure, eliminating the mathematical certainty of lease decay that characterises conventional 99-year leasehold residential properties as they approach tenure expiration. This freehold structure means that properties retain full residual value indefinitely, a guarantee unavailable to private leasehold buyers whose assets systematically decline as lease tenure shortens. For buyers with ownership horizons exceeding 40-50 years, freehold tenure becomes increasingly valuable, as leasehold properties purchased today would face significantly compressed valuations by mid-century when lease terms fall below 40-50 years. The freehold structure also simplifies refinancing and future capital-raising arrangements, as lenders apply more favourable loan-to-value ratios and interest rate terms to freehold residential properties compared to leasehold equivalents, reducing long-term borrowing costs across ownership lifespans.

How does proximity to NS17 Bishan MRT station influence property demand and capital appreciation?

The approximately 13-minute walk to NS17 Bishan MRT station positions 232 Bishan Street 22 within Singapore's preferred 'walkable distance' threshold from mass rapid transit, a critical determinant of HDB property valuations across urban precincts. Historical analysis of property values across Bishan demonstrates that proximity to the MRT station creates a demand premium, with properties within walking distance commanding 8-12% higher valuations relative to equivalent properties located beyond convenient pedestrian access. This MRT connectivity has remained a structural demand driver across multiple economic cycles, as commuters consistently prioritise reduced travel times to employment centres and commercial districts, making the development's location a reliable foundation for capital retention and appreciation. Future infrastructure investments, including pedestrian connectivity enhancements and transport network optimisation, are likely to strengthen the MRT advantage further, suggesting that the location's competitive positioning should remain intact across multi-decade ownership horizons.

What buyer profiles is 232 Bishan Street 22 most suitable for?

First-time homebuyers represent an ideal purchaser profile for this development, as the freehold tenure structure eliminates lease decay concerns that would otherwise complicate long-term ownership planning, whilst the Bishan location provides established community amenities and reliable capital retention. Upgraders transitioning from smaller HDB flats or private apartments benefit from the generous 1,130 square-foot layout, which provides meaningful additional space relative to legacy HDB designs whilst remaining competitively priced relative to outer-ring new developments lacking equivalent infrastructure density. Young families with school-age children find particular appeal in Bishan's established educational ecosystem, where multiple primary and secondary schools operate with proven track records, eliminating the speculative element sometimes present in newer precincts. Property investors seeking yield-focused, low-volatility assets align well with this development's stable rental demand profile and predictable capital retention characteristics, though the 20% ABSD impost requires careful yield threshold analysis before proceeding.

What are TDSR implications and typical financing headroom at current price points?

At the development's entry price of S$788,888, a first-time buyer contributing 10% equity (approximately S$78,889) and financing S$710,000 over a standard 30-year repayment term would face monthly mortgage obligations of roughly S$3,100 under current interest rate scenarios. Most institutional lenders apply a 30% Debt-to-Income Ratio threshold, meaning an employed buyer would require gross monthly income of approximately S$10,333 to comfortably accommodate this mortgage alongside other obligations such as car loans, credit card commitments, and personal financing. This income threshold remains accessible to professionals across Singapore's financial, engineering, healthcare, and technology sectors, suggesting broad financing availability for appropriately-qualified purchasers. Buyers with existing debt obligations should allow adequate headroom between total monthly obligations and the lender's 30% TDSR ceiling, as exceeding this threshold either restricts loan quantum or requires additional equity contribution, both outcomes reducing acquisition feasibility for price-sensitive purchasers.

How does 232 Bishan Street 22 compare to competing developments within Bishan?

Within the Bishan HDB landscape, competing developments include nearby blocks along Bishan Street and Ang Mo Kio Avenue, many of which are similarly mature but often feature smaller unit configurations or less convenient MRT proximity. Properties along Bishan Street 21-25 typically command comparable pricing to 232 Bishan Street 22, though variations in unit age, recent renovation history, and specific block positioning create meaningful differentiation in transaction outcomes. Developments further removed from the MRT station generally trade at 5-8% discounts relative to properties enjoying convenient pedestrian access, reflecting the persistent demand premium for transport connectivity. When compared to older Bishan developments constructed in the 1970s-1980s, 232 Bishan Street 22's more spacious unit layouts and contemporary interior configurations command modest premiums, suggesting that buyer choice increasingly reflects internal livability and amenity factors rather than neighbourhood selection alone.

What unit stack and floor level considerations should buyers evaluate for value optimisation?

Within 232 Bishan Street 22, units positioned on higher floor levels (typically levels 10 and above) command premium pricing of 5-10% relative to lower floors, reflecting buyer preferences for natural light, reduced traffic noise, and privacy benefits that elevated positions provide. Mid-to-upper floor units (levels 8-12) typically represent optimal value positioning, balancing amenity premiums against the steeper pricing associated with the highest available levels. Unit stacks positioned away from primary roads and facing internal neighbourhood spaces rather than traffic-fronted orientations offer superior sound insulation and thermal comfort, justifying modest pricing premiums that are substantially lower than floor-level premiums, making these positions particularly attractive for value-conscious purchasers. Ground floor units, whilst offering marginal pricing discounts, often provide superior convenience for elderly residents, families with young children, and buyers prioritising accessibility, suggesting that value assessment requires personalised prioritisation rather than blanket floor-level generalisation.

What does the future supply pipeline indicate about property values in Bishan?

Singapore's long-term public housing development plans indicate that the Bishan district will experience limited new HDB construction in the immediate decade, as development focus increasingly shifts toward outer-ring precincts and areas undergoing strategic renewal. This constrained supply environment, combined with Bishan's established desirability and demographic stability, creates structural demand support for existing properties like those at 232 Bishan Street 22 without substantial new competitive pressure. Historical analysis of property values across mature HDB neighbourhoods suggests that constrained supply combined with demographic renewal (younger families purchasing upgraded properties) produces capital appreciation aligned with Singapore's inflation and economic growth rates, typically 2-3% annually across multi-decade horizons. The absence of new competitive supply alongside predictable demographic demand from successive generational cohorts suggests that 232 Bishan Street 22 properties should retain value reliability comparable to Singapore's most established residential neighbourhoods, positioning the development favourably for long-term owner-occupiers and value-focused investors.

[For Sale / Rent] Hdb Flat At 232 Bishan Street 22 — From S$3,800