What is the most profitable condo in Bishan ? – Full Analysis

Introduction

Bishan draws a steady pool of buyers every year, pulled in by its presence of multiple reputable primary school in the area. Its MRT interchange, and its reputation as one of the more liveable estates in the RCR. That demand keeps Bishan condos priced at a premium to many comparable estates, which means the buyer’s real question is rarely whether to buy into Bishan at all. It is which condo, and which unit type within it, actually converts that premium entry price into profit at exit.

This article works through nine Bishan developments (Clover By The Park, The Gardens at Bishan, Bishan Park Condominium, Bishan Point, Bishan Loft, Rafflesia Condominium, Sky Vue, Sky Habitat, and Bishan 8) using URA transaction data from the last five years, broken down by bedroom type, to identify which development actually made money for its sellers, at which unit size, and whether today’s asking prices still support the same thesis.

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The Nine Bishan Condo Developments We Reviewed

Bishan’s condo stock breaks into two eras: pre-2005 developments (Rafflesia, Bishan 8, Bishan Park Condominium, Bishan Point, Bishan Loft) and the second wave built around the Bishan MRT interchange from 2011 onward (Clover By The Park, The Gardens at Bishan, Sky Habitat, Sky Vue).

The Overall Profitability of Bishan as a District

Bishan is a Tier 2, Strong Investment Grade neighbourhood in our own neighbourhood investment diagnostic covering all 36 sub-markets in Singapore, and Bishan’s condos have delivered impressive annualised appreciation, especially in developments like Jadescape, Sky Vue, and The Gardens at Bishan.

What holds Bishan back from becoming a Tier 1 investable neighbourhood is not capital gains. It is competitive landscape. The cluster of large, modern 99-year developments around Bishan and Marymount MRT, Jadescape, Sky Vue, Sky Habitat, The Gardens at Bishan, and Clover By The Park among them, all compete for the same buyer profile, which spreads resale demand across projects instead of concentrating it in one clear winner. Catholic High School, Ai Tong School, Kuo Chuan Presbyterian, and CHIJ St Nicholas Girls’ School sit within 1 to 2 kilometres of every development in this comparison, so school access is not what separates them.

Our methodology: we pulled every resale transaction across the nine developments where the sale was registered in the last five years (August 2021 to August 2026), and only used profit and holding period figures returned natively against each transaction, never a locally computed estimate. New Sale transactions carry no profit figure by definition and are excluded. Where a development’s transaction records did not carry a bedroom classification (this affects Rafflesia and Bishan 8 in particular, where most historical records predate consistent bedroom tagging), we have excluded those rows from the bedroom-level breakdown rather than guess.

Which Bedroom Type Actually Makes the Money

Before diving into individual project review, we will first look into which unit type is most sought by resale buyers in the bishan area.

The jump from 2-bedroom to 3-bedroom is the single most consequential line in this table. A 2-bedroom unit in Bishan cleared $1,000,000 in profit in only 2.1% of transactions over the last five years. A 3-bedroom unit in the same nine developments cleared it 43.4% of the time, a 20-fold improvement. This is directionally consistent with our broader research on new launch condo profitability nationally, where 3-bedroom units also outperform 2-bedroom units by a wide margin, but Bishan’s numbers run well above the national pattern at every bedroom size above 2.

What this tells us is that Bishan works best as a play on larger units. 3-bedroom and above is where the district earns its reputation, and that holds across all nine developments we reviewed, not just one or two standout projects. Once you drop below that, to a 1 or 2-bedroom unit, the numbers stop supporting the thesis, no matter which development you pick. We go through that by development below, but if your budget only allows for a 1 or 2-bedroom unit, Bishan is not the recommended district that you should look at for maximal upside.

2-Bedroom Units: The Gardens at Bishan Leads

Among developments with a usable sample size, The Gardens at Bishan produced the strongest 2-bedroom outcome: $60,891 a year in average profit on 46 transactions, with an average profit of $534,407 over an average 10.9-year hold.

Rafflesia’s per-year figure is nominally higher than The Gardens at Bishan’s, but on only 2 transactions we do not consider it reliable enough to lead with. Bishan Point’s number sits on 9 transactions, thin but directionally usable. Sky Vue carries the largest sample by far (95 transactions) but the weakest outcome, which tells us its 2-bedroom stock is simply not generating the same resale demand as The Gardens at Bishan’s.

Even at its best, though, no 2-bedroom outcome in Bishan approaches the 3 and 4-bedroom numbers below. This confirms the district-wide pattern holds at the development level too.

3-Bedroom Units: Clover By The Park Leads

Clover By The Park’s 3-bedroom units averaged $91,686 a year in profit across 54 transactions, the largest and most credible sample of any development at this bedroom size, with a 57.4% chance of clearing $1,000,000.

Sky Vue as a notable development to consider in Bishan for 3 bedders

Sky Vue is worth calling out on its own. Its per-year figure ($90,190) sits close behind Clover, but its chance of clearing $1,000,000 (17.2%) is far weaker than Clover’s or The Gardens at Bishan’s (both 57.4%). The explanation is holding period: Sky Vue’s average hold is 7.7 years against Clover’s 11.7. Sky Vue owners are recycling capital faster for a smaller absolute payout, not producing a worse outcome outright. Whether that profile suits you depends on whether you are optimising for annualised return or for the largest single exit.

Be mindful of the risk of lease decay for The Gardens at Bishan

The Gardens at Bishan is statistically tied with Clover on both average profit and hit rate, and carries the largest sample size in this table (68 transactions). That track record is real, but we would not lead a forward-looking recommendation with it. The Gardens at Bishan topped out in 2004, eight years ahead of Clover and twelve ahead of Sky Vue. Lease decay accelerates non-linearly as a development ages, and future resale buyer will be adverse towards the lease decay risk that they are taking on as compared to Clover By The Park or Sky Vue for a broadly comparable historical return.

4-Bedroom and Larger Units: Clover By The Park Wins Decisively

At 4 bedrooms, Clover By The Park is the clearest result in this entire study: $110,569 a year in average profit on 21 transactions, an 85.7% chance of clearing $1,000,000, and the only development at this bedroom size with a sample large enough to trust.

Bishan Loft’s 100% hit rate and Bishan Point’s $105,490-a-year figure both look competitive with Clover on the surface. Both sit on only 7 transactions. We do not consider a sample that small sufficient to challenge Clover’s result, which is drawn from three times the transaction volume. The Gardens at Bishan’s 4-bedroom numbers are the closest to Clover’s on a sample size (15 transactions) large enough to take seriously, but the same lease-age caveat from the 3-bedroom breakdown applies here too: it is the older of the two developments, so we would not use this track record as a reason to prefer it over Clover today.

Taken together, Clover By The Park is the only development that leads on profit per year at both bedroom sizes that actually matter (3 and 4-bedroom), on the largest credible sample at each. That is the basis for calling it the most profitable condo in Bishan, not an assertion made before the data, but the conclusion the bedroom-by-bedroom breakdown arrives at.

Sky Vue: Strong Development to Consider in Terms of Profitability and Capital Growth Potential

Sky Vue does not top any bedroom-type table outright, but it wins on a dimension the tables above do not fully capture: speed. Its 3-bedroom units average $90,190 a year in profit, second only to Clover By The Park’s $91,686, on an average holding period of just 7.7 years against Clover’s 11.7. An owner exiting a 3-bedroom Sky Vue unit converts roughly the same annualised return into cash close to four years faster, on a sample of 29 transactions, the third-largest at this bedroom size after Clover and The Gardens at Bishan.

That speed carries into today’s pricing. Sky Vue’s current asking PSF sits only 12.6% above its own five-year average transacted PSF, the second-smallest gap of all nine developments in this comparison, behind only Clover itself. A buyer entering Sky Vue today is not paying a price that has meaningfully detached from what the development has actually delivered over the last five years.

The trade-off is the one already noted above: Sky Vue’s chance of clearing $1,000,000 in profit on a 3-bedroom unit (17.2%) is far below Clover’s or The Gardens at Bishan’s (both 57.4%), because a faster exit compounds a smaller absolute gain before it is realised. Sky Vue suits a buyer prioritising turnover and re-entry speed over the single largest exit, not a buyer chasing the biggest possible payout.

Working out which specific stack and unit type within Clover By The Park (or Sky Vue, if you are prioritising capital turnover speed over the largest single exit) still offers a defensible entry price is where the analysis gets development-specific. Drop us a text if you want a second opinion on a specific unit before you commit.

Which Development Presents a Buying Opportunity Today

A strong five-year profit record only matters if today’s entry price still leaves room to repeat it. We compared each development’s current asking PSF currently listing on major property portal against its own five-year average transacted PSF.

Clover By The Park is trading only 4.9% above its own recent average, the smallest gap of the nine. A buyer entering today is not chasing a price that has already detached from what the last five years of transactions support. Sky Vue and Sky Habitat, the two developments buyers most often shortlist alongside Clover, sit close behind at 12.6% and 14.3%, still a reasonable entry relative to their own trading history. Bishan Loft (14.5%) and Bishan Park Condominium (16.0%) land in the same range.

The wider gaps sit further down the table. The Gardens at Bishan (20.5%) and Rafflesia Condominium (20.7%) are both trading at roughly a fifth above their own five-year average, worth pricing in but not disqualifying. Bishan Point (25.1%) and Bishan 8 (30.7%) show the widest gaps in this comparison. Bishan Point’s figure sits on 10 live listings, Bishan 8’s on only 6, and Bishan Loft’s on only 2, all thin enough that we would treat them as directional rather than conclusive.

This reinforces where our recommendation sits rather than complicating it. The Gardens at Bishan’s historical numbers hold up, but between its older lease and a wider pricing gap to close, we would not lead with it today. Clover and Sky Vue, the two developments profiled in the sections above, are where the current entry price and the historical track record line up most closely.

Looking to Purchase a Second Property In Bishan

If you are looking to purchase a second property in Bishan for a combination of own stay and investment purposes, while repositioning your current property as a rental asset, the structure of your existing property ownership becomes a critical variable. For married couples who jointly own their first property, purchasing a second property under one spouse’s name is a strategy worth considering. This is the premise of property decoupling. For a full breakdown of how the process works, the eligibility conditions, and the cost implications involved, refer to our decoupling property Singapore 2026 guide

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