HDB Resale Flats in Bishan: How Much to Pay, According to Average Asking and Selling Price in Past 3 Years

·6-min read

In October 2021, a five-room DBSS flat in Natura Loft sold for a smashing $1.36 million, setting a new record for the most expensive HDB flat ever sold. In July, another 5-room HDB resale flat in Bishan, in the same project no less, sold for $1.295 million. It probably got most people thinking, “Wah, HDB flats in Bishan now so expensive ah.”

If you’re a young couple looking to purchase a resale flat in the neighbourhood, you might be feeling daunted by such prices. After all, the overall HDB resale flat prices have increased for the seventeenth straight month in a row. It’s safe to say that prices for HDB flats in Bishan are sky-high at the moment.

Still, centrally-located Bishan remains an attractive place to live. The mix of new shopping malls and sleepy neighbourhood shops gives the neighbourhood an old-school charm with all the comforts of modern living. For those who are undeterred and wish to live in Bishan, here’s how much you can expect to pay for an HDB resale flat in the area.

Why You Need to Look at past Resale Prices of Bishan HDB Flats

When paying for a resale HDB flat, you need to know what cash over valuation (COV) is. The need to pay COV arises when a resale flat is sold above its actual valuation by HDB. Subsequently, the buyer has to pay the difference in cash.

Offering a high price means you have to be prepared to pay a significant sum for COV. Ideally, you want to avoid ‘overpaying’ for your home. But paying COV is not all bad. Offering a higher price could speed up the sale process of your new home; if the seller takes up your price, you’re squeezing out other interested parties and ‘chope’-ing the flat you want.

Ultimately, you want to hit the sweet spot between an asker’s selling price and what you’re willing to pay. This way, you’ll better estimate the potential COV you have to cough up and manage your financial situation.


Aerial view of Bishan Park. Source: Wikicommons

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Average Selling Price of Bishan HDB flats in the past 3 Years

To start, you want to get a good estimation of your potential home’s valuation. Snoop around and take a look at past transaction prices of properties in the same estate.

For those who already know which part of Bishan they want to live in, simply head over to the PropertyGuru website and search for the block. Details of past transactions will pop up on the ‘Pricing Insights’ section, which you can use to gauge how much to offer.

If you’re undecided, start house hunting by browsing all HDB flats in Bishan for sale.

Alternatively, compare the amount against HDB’s resale statistics for HDB flats in Bishan. Here are the median resale transaction prices for the neighbourhood from Q1 2018 to Q3 2021. Do note that all listed prices are rounded to the nearest hundred dollars.

How Much Should You Pay for an HDB Resale Flat in Bishan

Now we look at the asking prices for Bishan HDB resale flats, as listed on the PropertyGuru website. The asking prices are not the final transacted prices. But, they can give us an idea of how much sellers are asking for their properties and pricing trends.

Again, while there’s no way to know how much COV you’ll have to pay, these figures provide a good estimate for 1) how much you should be prepared to pay and 2) how much you could offer to beat out other interested buyers.


Junction 8 is located just outside of the Bishan MRT station and Bishan Bus Interchange. Source: Wikicommons

While you can filter flats based on the number of bedrooms on PropertyGuru, it doesn’t tell you what type of HDB flat you’re looking at. Owners could have changed their floor plan by hacking down a wall to expand their living room area or adding a room to serve as their work-from-home office. So to provide more accurate information, what we’ve done is find out the size range for the different types of 3-, 4- and 5-room flats:

  • 3-room flat: 635 to 883 sq ft

  • 4-room flat: 884 to 1163 sq ft

  • 5-room flat: 1164 to 1367 sq ft

  • Executive apartments: more than 1367 sq ft

Here are the median asking prices for the different flat types in Bishan as listed on PropertyGuru.

Buying an HDB Resale Flat in Bishan

There is up to a 15% difference between the median asking prices and actual transacted prices. That’s not surprising as buyers often ask for more and sellers negotiate the price down to suit their budget.

But if Q3 2021 (which is when the Hungry Ghost Festival period occurred) was anything to go by, potential buyers can expect stiff competition. We might see more buyers offering sellers a quote close to their asking price.

At this point, the supply of resale HDB flat supply is very low, no thanks to the BTO construction delays. More buyers are willing to offer higher prices and fork out more for COV to secure a place, even if they’ve only seen the flat via virtual viewings. So if you’re thinking of buying a resale HDB flat, do take this into account and set aside money for COV.

If you’re not too picky on location and would prefer a resale flat with a long lease, you could check out these articles:

Not sure which is the best home loan to take? Chat with PropertyGuru Finance's home finance advisors to plan a feasible budget and compare mortgage rates.

Happy house hunting!

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More FAQs about HDB Resale Flats in Bishan

How Much Do You Have to Put down on a Resale HDB Flat?

If you take a bank loan, you have to pay a 20% downpayment (of which 5% must be cash). For those taking an HDB loan, you can pay the 15% downpayment with your CPF savings. A deposit of $5,000 must be paid in cash.

How Much Does a 3-room HDB Flat Cost?

Depending on the estate, prices will vary. For example, in Q4 2020 the median price for a home in Bishan was $367,000 in Q3 2021.

What Is a Resale HDB Flat?

They are an HDB flat that currently is owned by another individual, and the individual has fulfilled their property’s Minimum Occupation Period (MOP).

Is It Good to Buy Resale Flat?

Depending on your budget, housing needs, and preferences, buying an HDB resale flat might be a good choice for you.

For more property news, resources and useful content like this article, check out PropertyGuru’s guides section.

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This article was written by Cheryl Chiew, Digital Content Specialist for PropertyGuru. Cheryl likes bread and cats, especially when cats tuck in their limbs so they look like bread. Drop her an email that hopes to find her well at cheryl@propertyguru.com.sg.

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