Tuesday, 27 October 2026 · Malé Search Newsletter Send us your launch WhatsApp the desk
Maldives Real Estate News

Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.

Rules & rates

The cost of signing with HDFC: fees, deposit and insurance

Borrowing MVR 2.4 million from HDFC costs MVR 500 to apply, 1% to process (capped at MVR 50,000), a deposit of three months' payments held for the whole term, insurance and court registration. The full list from HDFC's January 2026 schedule.

By Published 1 min read

Illustration from Binga's stock library: a wide living room opening onto a sea-view balcony. Not the building in this story.
Illustration from Binga's stock library: a wide living room opening onto a sea-view balcony. Not the building in this story.

Housing Development Finance Corporation (HDFC) publishes a schedule of charges; the current version took effect in January 2026. Here is what a buyer pays to borrow MVR 2.4 million for a MVR 3 million flat.

Up front

ChargeAmountOn MVR 2.4m
ApplicationMVR 500500
Processing and inspection1%, capped at MVR 50,00024,000
DepositThree months' payments, held for the whole termabout 70,600 at 11%
Credit bureau reportMVR 150 per applicant150+
Mortgage registration at courtMVR 2,500, or as the court sets2,500
InsuranceSet by the insurer, for the termask

So, beyond the MVR 600,000 equity, budget roughly MVR 100,000 plus insurance.

The deposit is the one to notice

HDFC holds three months' payments for the life of the loan. It is your money, but you cannot use it. Ask how and when it is returned.

During the loan

  • Reschedule or restructure: MVR 1,500.
  • Changing the drawdown schedule (from the second request): 0.05% of the undrawn balance.
  • Extending the grace period (from the second request): 1% of the undrawn balance.
  • Statement or letter: MVR 200.

If you fall behind

A late charge of 10% of the overdue amount, and legal recovery costs: MVR 10,000 to file in Malé, plus MVR 1,000 a hearing, up to MVR 50,000.

As published by HDFC on 18 October 2026. Rates and terms change; confirm them with HDFC before you commit. General information, not financial advice.

Compare lenders 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.

Rules & rates

Does pledging my pension cost me anything?

The Pension Office charges no fee for the housing pledge that we could find, and the money keeps earning. Some lenders even price pension-backed loans lower: HDFC charges 10.42% against 11%, about MVR 1,000 a month less on MVR 2.4 million. The real costs are risk and lost flexibility.

· 1 min read

Rules & rates

Paying off early, or moving banks: what HDFC charges

Settling an HDFC home loan early costs 2% of the balance; moving it to another lender costs 5%. On HDFC Amna's Islamic financing the lock-in fee is up to MVR 500,000, with a rebate. What each means, and what to ask.

· 1 min read

Rules & rates

I'm over 50. Can I still use my pension to buy a home?

Yes, until you turn 60, but only half your balance, and the loan must be paid off before you turn 65. That shortens the term and raises the payment: on MVR 2.4 million at 11%, about MVR 33,100 a month over ten years against MVR 23,500 over 25.

· 2 min read

Rules & rates

The five lenders that accept your pension, and the five steps to use it

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.

· 2 min read