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

Three rates for the same flat: 10.42%, 11% or 12.25% at HDFC

HDFC prices home purchase financing by how you pay: pledge your pension and the rate is 10.42%, rely on salary or business income and it is 11%, count rental income and it is 12.25%. On MVR 2.4 million over 25 years, the gap is about MVR 3,200 a month.

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) sets its home purchase rate by the income or collateral behind the loan, not by the flat.

Monthly payment on MVR 2.4 million over 25 years

That is a MVR 3 million flat with 20% down.

RouteRateMonthlyTotal repaid
Pension pledged as equity10.42%about MVR 22,500about MVR 6.76m
Salary or business income11.00%about MVR 23,500about MVR 7.06m
Rental income counted12.25%about MVR 25,700about MVR 7.72m

Our calculation using a standard monthly instalment; HDFC's own calculator may differ slightly.

What drives the difference

  • Pension: the cheapest route, because the pledged pension gives HDFC extra security. HDFC's arrangement with the Pension Office is set out in its accounts.
  • Rental income: the most expensive, because rent is less certain than salary. If you need rent from another property to qualify, expect 12.25%.

Affordability

HDFC's calculator assumes your repayments are at most 40% of income. On that basis the 11% payment above needs a household income of about MVR 59,000 a month. The 40% is the calculator's assumption, not a published rule; ask HDFC how it assesses you.

Before you choose

Over 25 years, the gap between the cheapest and dearest route is close to MVR 1 million. If you have pension savings, ask whether pledging them gets you the 10.42% rate.

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

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

How much of my pension can I put towards a flat?

It depends on your age and your balance: all of it up to 35, 80% from 36 to 49, half from 50 to 60. Worked examples at each age, and how that compares with the 10% or 20% deposit lenders ask for on a MVR 3 million flat.

· 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