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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.

By Binga Concierge Published 18 October 2026 2 min read

An apartment nearing its finishes in September 2026, floors still under protective covering. Photo: Bayfancy

The simplest way to judge a home bought to let is to ask: what rent must it earn? For Bayfancy we can answer that from the developer's own starting prices.

The rent each layout needs

Layout	From (Sept 2026)	Rent for a 6% gross return	Rent for 7%
1+1	MVR 3.75 million	MVR 18,750 a month	MVR 21,875
Two-bedroom	MVR 5.06 million	MVR 25,300	MVR 29,517
2+1	MVR 6.42 million	MVR 32,100	MVR 37,450
3+1	MVR 7.23 million	MVR 36,150	MVR 42,175

These are gross figures: before service charges, furnishing, empty months and repairs.

What homes are asking today

Binga's October 2026 Market Index gives a feel, though the samples are small:

In Hulhumalé Phase 1, three-bedroom homes asking in rufiyaa had a median of MVR 39,000 a month (seven homes).
In Phase 2, Binga had only two homes to let this month, both asking in dollars: a one-bedroom at USD 1,600 and a two-bedroom at USD 2,200.

On those figures the larger Bayfancy layouts look closest to the mark. A 3+1 needs around MVR 36,000 for 6 per cent, close to what established three-bedrooms ask in Phase 1. The two-bedroom is harder: it needs more than MVR 25,000 a month to reach 6 per cent.

What else to weigh

No rent until mid-2027. Handover is expected on 30 June 2027. Money paid now earns nothing until then, and the date has moved before.
A premium building. A full amenity floor, smart-home systems and a butler service may justify a higher rent, and they will certainly mean a higher service charge. Get the figure first.
A newer neighbourhood. Phase 2 rents will depend on how quickly the area around Lot 20092 fills in.
Furnishing. The higher rents in the index are mostly for furnished homes.

Our read

Bayfancy is priced as a premium building, so the numbers work best for an owner who can let it as one. Think furnished, to corporate tenants or relocating families, at the top of the Hulhumalé range. Run your own sums for a specific unit with your financing costs before you buy. This is market commentary, not financial advice.

See units and prices and the full timeline.

Run the numbers with the concierge

Sources and method

Prices are asking prices as listed through Binga unless marked achieved, and are dated. Developer descriptions are reported as the developer's own. Facts the desk could not verify are left out. Spotted an error? Write to hello@binga.mv; corrections are noted at the foot of the piece.

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.