Neighbourhoods
Hulhumalé Phase 2
The newest reclaimed land: towers, wide streets and most of the developments now selling.
Hulhumalé Phase 2 today
Homes available through Binga right now and their asking rents, by neighbourhood. Asking, not achieved; live catalogue, synced 24 Oct 2026.
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Hulhumalé Phase 2
$1,900 median / month
2 for rent · 0 for sale · middle half $1,750–$2,050
Asking rent by bedrooms
| Bedrooms | Listings | Median / month | Middle half |
|---|---|---|---|
| 1 | 1 | $1,600 | $1,600–$1,600 |
| 2 | 1 | $2,200 | $2,200–$2,200 |
Asking rents of homes listed through Binga today, in the currency most are quoted in. Small counts move a lot; treat single-digit rows as indicative.
Developments in Hulhumalé Phase 2
Hulhumalé Phase 2
Bayfancy Residence
1+1, two-bedroom, 2+1 and 3+1 apartments and sky villasOff-plan sale by the developer; ask for the tenure terms in writingUnder construction: 72% complete (October 2026); handover expected 30 June 2027
Reporting on Hulhumalé Phase 2
Developments
Bayfancy Residence as an investment: the rent each home has to earn
At today's starting prices a Bayfancy 1+1 needs about MVR 18,750 a month in rent to earn a 6 per cent gross return, and a 3+1 about MVR 36,150. Here is how that compares with what homes in Hulhumalé are asking, and what else to weigh.
Developments
Buying at Bayfancy Residence: the steps, and where the concierge can help
How to buy an apartment at Bayfancy Residence from first enquiry to keys, the questions to settle at each step, and how Binga's concierge can help you compare, check the contract and let the home after handover.
Developments
Bayfancy Residence, the address: Lot 20092 in Hulhumalé Phase 2
Bayfancy stands on Lot 20092 in Hulhumalé Phase 2, next to Blue Lagoon Luxury Residences, in a part of Hulhumalé still filling in. What living there looks like today and as the neighbourhood is built out.
Developments
Bayfancy Residence, the building: 18 floors on 350 piles, with a whole floor for residents
What Bayfancy Residence is made of: an 18-storey tower over a basement on Lot 20092 in Hulhumalé Phase 2, standing on more than 350 deep piles, with no shops inside, a double-height lobby and an entire 17th floor of shared amenities.
Developments
Bayfancy Residence, units and prices: five layouts, and what has changed since launch
Bayfancy's layouts run from a 735 sq ft 1+1 to sky villas of over 6,000 sq ft. Starting prices have risen since sales opened in May 2025: the 1+1 from MVR 3.5 million to 3.75 million, the 3+1 from MVR 6.2 million to 7.23 million.
Developments
Bayfancy Residence, the full story: from the first pile to a June 2027 handover
Everything about Bayfancy Residence in one place: the Singapore developer behind it, the 18-storey building on Lot 20092 in Hulhumalé Phase 2, every milestone since piling began in December 2024, the handover date as it has moved, prices then and now, and what is left before keys in June 2027.
Guides
Making a small flat work in Greater Malé
Space, light, air and damp: how to furnish a one-bedroom or studio in Malé or Hulhumalé so it feels larger and lasts in the climate, and what a tenant needs the landlord's permission for. Rewritten from a 2021 archive post.
Development
2021: A poll finds few Maldivians want one-bedroom flats
In February 2021 a Maldives Opinion Network poll of 2,000 people found 72.5 per cent preferred a three-bedroom flat and 7.5 per cent a one-bedroom. The state's next large scheme, 4,000 flats in Hulhumalé Phase 2, was built with two and three bedrooms only.
Development
2021: Government promises Hiyaa keys in March, then in April
In February 2021 the housing minister said Hiyaa flats would be handed over by the end of March, unfinished and with three months rent-free; in March the President's Office said April. Keys were handed over from 14 July 2021 and residents moved in from mid-August.
Developments
A day at home at Vinares
A tiled, finished flat, lifts and parking downstairs, and gyms, cafés and convenience stores on the commercial floors. What a day at Vinares in Hulhumalé Phase 2 looks like, and who it suits.
Developments
What makes Vinares worth coming home to
A large development of 1,344 flats in ten blocks, where the view depends on the side: the marina and cruise terminal, the city, the main roads or the inner courts. How to read Vinares' design.
Developments
What your rent buys at Vinares
A furnished three-bedroom on the first floor was listed through Binga at MVR 35,000 a month in April. What that rent bought at Vinares, and what to ask about the rest of its 1,344 flats.