Foreigners to buy property in the Maldives for first time

Soneva Gili is to sell private residences to foreign investors, the first time foreigners have been permitted to buy private residences in the Maldives, according to premium property magazine Countrylife.

The 14 water bungalows on Lankanfushi Island are expected to attract up to US$7 million each.

Each of the four-bedroom houses will be built from renewable and natural materials and will include an over-water pool, sauna, gym and staff quarters for butlers.

The properties will be sold over a 50 year leasehold with an option to extend to 90 years, with a guaranteed gross rental yield of up to five percent for buys who subscribe to resort’s rental programme.


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