Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.
topic
Everything the desk has published under “faq”.
Rules & rates
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.
Rules & rates
The pension housing scheme is open to Maldivian MRPS members under 60. Self-employed people can join the MRPS voluntarily and build a balance; dollar earners contribute in rufiyaa; foreign residents can join the MRPS but cannot use it for a home. Who can, and how.
Rules & rates
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.
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
Pledging pension keeps your cash free and may get you a lower rate; paying cash keeps your retirement savings out of the loan. Five questions to decide, and how to combine the two.
Rules & rates
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.
