Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.
audience
Everything the desk has published under “buyers”.
Rules & rates
Since 2025, MIB finances a home from 10% of the price down, over up to 25 years. On a MVR 3 million flat that means MVR 300,000 of your own, a processing fee of about MVR 40,500 and a monthly payment around MVR 22,700 to 24,500. The worked example, with the income it needs.
Rules & rates
Maldives Islamic Bank finances home purchases through Ujaalaa Hiyaa: 9 to 10% a year, up to 25 years, from 10% of the price down, with no guarantor. What the product is, who qualifies, and what it does not cover.
Rules & rates
MIB lets a spouse, parents or children apply with you for home financing, and needs no guarantor. All your repayments together must stay under half your gross income, and you need 12 months in full-time work or regular rental income. The rules and the documents.
Rules & rates
In May 2025 the Maldives Monetary Authority gave MFLC a pre-operational permit to become Maldives Finance and Leasing Bank. By its December 2025 accounts it still took no deposits. What the permit means, and what MFLC's numbers say about it as a lender.
Rules & rates
MFLC's forms allow funds to go directly to a developer and offer a grace period of up to 12 months, but it has no published list of approved developments and charges 1% a year on money not yet drawn. Seven questions to settle before you book.
Rules & rates
Unlike some banks, MFLC asks how much rent the property will earn and wants rent forecasts. Its smaller Direct Loan is open to landlords living on rental income. What that means for buyers planning to let.
Rules & rates
A new apartment often comes without appliances or solar water heating. MFLC's Green Loan lends up to MVR 2 million over five years for energy-efficient equipment, without collateral up to MVR 250,000. Its Faseyha loan covers salaried buyers up to MVR 500,000. What each offers.
Rules & rates
MFLC's home loan and Islamic home financing forms list the documents it needs: ID and guarantor forms, a year of payslips and bank statements, the project's costs and approvals, proof of equity and, if you will let the home, rent forecasts. The full checklist, and how to apply.
Rules & rates
Maldives Finance and Leasing Company lends for buying, building or renovating a home: from MVR 200,000, over five to ten years, with 20% of your own money and a guarantor. What its Home Loan offers, who it suits, and what it does not publish.
Rules & rates
MFLC's Islamic arm, MFLC Maal, finances homes through Musharakah Mutanaqisah, a diminishing partnership: you and MFLC co-own the home and you buy its share over five to ten years. The terms, the takaful it requires, and how it differs from MFLC's conventional loan.
Rules & rates
Anyone financing a home through MFLC Maal agrees to insure it under takaful for the whole term, at their own cost. What takaful is, why lenders require it, and the questions to ask before you choose a policy.
Rules & rates
MFLC lends for homes over five to ten years; banks now go to 25. On every MVR 1 million borrowed, a ten-year term costs roughly MVR 4,000 to 5,000 more a month, and far less in total. Worked examples at illustrative rates.
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.
