Bishan Wave is a Plus BTO launch in BISHAN (D20), part of the February 2025 BTO exercise. 520 units across 4 flat types, 10-year minimum occupation period.
Location & amenities
Amenity data not yet enriched for this project. Site analysis updates when the admin runs POST /admin/bto/enrich/36.
Unit mix & indicative pricing
| Flat type | Units | Indicative price | Area (sqm) |
|---|---|---|---|
| 2-Room Flexi | 52 | $23,000 – $40,000 | 37 – 45 |
| 3-Room | 104 | $40,000 – $63,000 | 65 – 72 |
| 4-Room | 260 | $56,000 – $85,000 | 90 – 97 |
| 5-Room | 104 | $68,000 – $103,000 | 110 – 117 |
BTO indicative PSF vs nearby HDB resale (BISHAN, last 12 months)
Same town, matched flat type. Positive discount = BTO cheaper.
| Flat type | BTO PSF (mid) | Resale PSF (est.) | Discount vs resale |
|---|---|---|---|
| 2-Room Flexi | $750 | — | — |
| 3-Room | $750 | $702 | -6.9% |
| 4-Room | $750 | $786 | 4.6% |
| 5-Room | $750 | $856 | 12.4% |
Ballot odds & precedent
Final ballot subscription rates
| Flat type | Applicant | Supply | Applications | Rate |
|---|---|---|---|---|
| 2-Room Flexi | First-timer | 34 | 897 | 26.39x |
| 2-Room Flexi | Second-timer | 16 | 19 | 1.20x |
| 3-Room | First-timer | 68 | 602 | 8.85x |
| 3-Room | Second-timer | 31 | 26 | 0.84x |
| 4-Room | First-timer | 169 | 1,352 | 8.00x |
| 4-Room | Second-timer | 78 | 186 | 2.38x |
| 5-Room | First-timer | 68 | 239 | 3.51x |
| 5-Room | Second-timer | 31 | 55 | 1.77x |
Historical precedent: BISHAN · Plus
| Flat type | Applicant | Median rate | Sample size |
|---|---|---|---|
| 2-Room Flexi | First-timer | 26.39x | 1 |
| 2-Room Flexi | Second-timer | 1.20x | 1 |
| 3-Room | First-timer | 8.85x | 1 |
| 3-Room | Second-timer | 0.84x | 1 |
| 4-Room | First-timer | 8.00x | 1 |
| 4-Room | Second-timer | 2.38x | 1 |
| 5-Room | First-timer | 3.51x | 1 |
| 5-Room | Second-timer | 1.77x | 1 |
Affordability worked examples
Assumptions: HDB concessionary loan at 2.6%, 25-year tenure, 75% LTV. Replace grant amounts with your eligibility from the HDB Grant Calculator.
| Persona | Flat | Price | Est. grant | Net price | Downpayment | Monthly |
|---|---|---|---|---|---|---|
| Young couple, first-timer (combined income S$8,000/month) | 3-Room | $52,000 | $60,000 | $0 | $0 | $0 |
| Family, first-timer (combined income S$12,000/month) | 4-Room | $71,000 | $30,000 | $41,000 | $10,250 | $140 |
| Upgrader, second-timer (combined income S$16,000/month) | 4-Room | $71,000 | $0 | $71,000 | $17,750 | $242 |
Plus subsidy recovery on resale
Plus flats carry a subsidy recovery on resale (typically ~6% applied to the eventual resale price). This is the price of the larger upfront subsidy you receive on purchase. Plus and Prime also have a 10-year MOP (vs Standard's 5-year) and bans on renting out the whole flat.
Use the BTO Plus/Prime Clawback Calculator to estimate net proceeds at a hypothetical sale year and compare against the Standard equivalent.
Related
- All projects in February 2025 BTO
- BTO vs Resale Calculator
- HDB Grant Eligibility
- HDB Loan vs Bank Loan
- BISHAN HDB town profile
Sources & methodology
Methodology & Sources
Figures below are drawn from February 2025 BTO and revised one-time.
HDB resale and rental data from data.gov.sg.
- HDB project list and indicative pricing sourced from HDB press releases for the February 2025 BTO launch.
- Nearby resale comparison uses HDB resale transactions in BISHAN over the last 12 months (averaged price ÷ midpoint floor area, converted to PSF).
- Ballot odds precedent aggregates final subscription rates from past BTO launches in BISHAN under the Plus tier; median is reported with sample-size.
- Walkability score from ShiokNest WalkabilityService (DB-based: MRT + schools); OneMap amenities fetched on enrichment.
We report medians (not means) so a single outlier transaction cannot skew district-level figures. PSF = price per square foot.