Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.
Bank
Housing-loan provider; has approved Luxera Nadhee for financing.
Rules & rates
Only five institutions can take your pension savings as a home loan deposit: Bank of Maldives, Maldives Islamic Bank, HDFC, Mauritius Commercial Bank and Commercial Bank of Maldives. How the request moves between you, the lender and the Pension Office, step by step.
Rules & rates
The Pension Office answers six questions about its housing scheme. Here they are with the answers, plus what each means for someone buying a flat from a developer, and two corrections where the FAQ's wording says the opposite of what the scheme does.
Rules & rates
The Maldives Pension Administration Office's Dhivehi leaflet on using pension savings to buy a home sets out the whole scheme on four pages: who qualifies, how much you can pledge at each age, which homes count, the five lenders, the three steps and what happens to your money. Here it is in English, section by section.
Rules & rates
Under a Maldives Monetary Authority rule, every commercial bank must put 10 to 15% of its lending into affordable housing. Bank of Maldives has set up a company to build more than 3,200 lease-to-own homes in Hulhumalé and Villimalé. Who they are for, and what the scheme means for the private market.
Rules & rates
To finance a flat that is still being built, Bank of Maldives must have approved the development. Its published list names more than thirty projects, from Bayfancy and Blue Lagoon in Hulhumalé Phase 2 to Solitaire, Aqua Vita and Kandoofaa. Here is the list, and what approval does and does not mean.
Rules & rates
Since October 2025 Bank of Maldives asks for 5% of the price as your own money, down from 20%. On a MVR 3.5 million flat that is MVR 175,000 instead of MVR 700,000. What the cut changes, what it does not, and the full cash a buyer still needs on day one.
Rules & rates
Bank of Maldives lets buyers defer full repayments for up to 24 months. Pay only the lease payments, or nothing at all with the payments added later. On a MVR 3.56 million financing the choice is worth thousands a month for the next 23 years. How each option works.
Rules & rates
If you own land, building can cost less than buying from a developer. Bank of Maldives finances construction from 9.5% with 5% equity on projects up to MVR 3 million, and runs the government's Hiyaavehi scheme at 5%. How the two compare with buying a finished flat.
Rules & rates
The rate is only part of the cost. Bank of Maldives charges a MVR 1,000 application fee and 1.5% for processing, 2% on large early repayments, and more if you fall behind. The full list from its October 2026 schedule of charges, with what each would cost on a typical flat.
Rules & rates
In five years Bank of Maldives cut its home rate to 9%, stretched terms to 25 years, cut the deposit from 20% to 5%, added dollar financing at 7.5%, took on the government's 5% building scheme and turned its personal banking Islamic. The changes in order, and what they add up to for buyers.
Rules & rates
Maldivians earning in US dollars, including resort, guesthouse, hotel and safari staff, can finance a home with Bank of Maldives at 7.5% a year, repaying in dollars. Who qualifies, how service charge counts, and what it costs on a typical flat.
Rules & rates
Bank of Maldives finances apartments, row houses, garages and land at up to 9% a year, over up to 25 years, with 5% equity and a 24-month grace period. Here is every term as the bank publishes it in October 2026, and what each means for a buyer.
Rules & rates
Since 13 September 2026 every new personal financing at Bank of Maldives is processed on Islamic principles. Its home financing uses Diminishing Musharakah: you and the bank co-own the home, you pay rent on its share and buy it out. What changes for a buyer, and what does not.
Represent Bank of Maldives? Send the desk your news or corrections to hello@binga.mv.
