What your rent would buy at Blue Lagoon Luxury Residences

The honest answer for Blue Lagoon Luxury Residences today is that the desk cannot yet say what your rent buys. No home in the development has been listed for rent through Binga, the developer's specification is not on file, and the development is still selling. This piece sets out how to judge value when the first homes do appear, so that a tenant who has the building in mind knows what to look for.

What we would need to know

A fair rent in Greater Malé is set by a short list of things, and at Blue Lagoon most of them are still open:

• The home itself. Size, number of bedrooms and bathrooms, and whether there is a balcony. The developer's listing mentions apartments and condominiums as well as villa and house types, so the answer may vary widely within the scheme.
• The view. A frontage on the water prices differently from one on the road in the same building, and the building's orientation is not yet on record.
• The building. Whether there is a lift, parking, backup power, security, a pool or a gym, and who manages it. None of these is confirmed.
• Furnishing. Fully furnished homes, ready to move into, carry the highest rents; semi-furnished homes have the kitchen, wardrobes and usually the air-conditioning, but no beds or sofas; unfurnished homes are the cheapest per month.

What the wider market says

For orientation only: through Binga, one- to four-bedroom homes in Greater Malé range from roughly MVR 15,000 to MVR 55,000 a month and beyond for executive and new-build premium units, which are often quoted in US dollars at a pegged rate of about 15.4 rufiyaa to the dollar. Until a home at Blue Lagoon is listed and inspected, we will not put a figure on it.

Renting through Binga

When owners at Blue Lagoon begin to let, every home Binga introduces will have been inspected and the owner verified, and your agreement will be directly with the owner, with no broker layer added to the rent. The concierge lists the inventory in the viewing notes so that it ends up in the tenancy agreement.

If Blue Lagoon is on your shortlist, say so in the tenant brief at concierge.binga.mv/tenants or on WhatsApp at +960 778-3395, with your budget, bedrooms and move-in date. A concierge will shortlist comparable homes available now and arrange the viewings, and can tell you when Blue Lagoon homes come to the rental market.