MALDIVES HOLIDAY HOMES FOR SALE

Sonu Shivdasani is the first resort operator to sell holiday homes in the Maldives since the archipelago's government gave permission for this in 2010. 

Located at his Soneva Fushi resort on the island of Kunfunadhoo, a 35 minute seaplane-ride away from the capital, Male, the villas look out over the turquoise waters of the Indian Ocean.

Shivdasani has sold eight villas, mainly to Europeans, since marketing began in 2011. A total of 16 private residences are on sale through agents, Savills, at prices starting from GBP3 million for a three bedroom home with 20 metres of beach frontage. Built from wood and thatch, each villa can be altered in consultation with the architects, and has its own swimming pool. Construction of each villa starts when a buyer's offer is accepted, and takes about eight months.

Barefoot millionaires

The resort operator says there will be a maximum of 65 villas. At least one-third of the island, which is 1.4 kilometres long and 400 meters wide, will remain undeveloped jungle, he promises.

Leases for villas are only 50 years, but can be renewed on expiry. Buyers can look forward to annual returns of 4 to 5 per cent if they place their properties in the rental pool says Shivdasani who is chief executive officer of the Soneva Group.

Although gourmet dinners and fine wine tasting is available, life at the resort is mainly about walking around barefoot and enjoying the sea and beach.

“We offer intelligent luxury,” says Shivdasani, “we offer unique experiences, things that people can't do in London or New York, such as dolphin cruises and having an overnight stay in a tent on a sandbank.”

Forty-six treatments are available at the resort spa.

Private islands

Owning your own private island in the Maldives is possible. Many of the 1200 islands in the Maldives are available for sale for private use. They include Kendhivaru, a 17 hectare private island in the Noonu Atoll, which is on offer for GBP2.5 million through real estate web site, Private Islands Online. It has a new, five bedroom, five bathroom bungalow and separate staff quarters, plus two generators, desalination plant and fruit and vegetable garden. The owner will sell for GBP1.9 million if the buyer is a resort developer who agrees to share future proceeds.

Floating homes

Prospective holiday home buyers concerned about the possibility of rising sea levels brought about by climate change can purchase a property that floats. Dutch Docklands, a Netherlands headquartered developer of floating structures, is building five “lagoons” that will be anchored to the seabed in the North Male Atoll and which will rise with sea levels. More than 700 homes for sale will be built on these lagoons.

The lagoons include Ocean Flower, a flower-shaped quay that will provide access to 185 water villas situated over the sea. Starting prices for villas which will have two, three or four bedrooms, start from GBP1 million. Scheduled for completion in 2014, the villas are on offer through sales agents, Christies International Real Estate, which is also marketing Amillarah, an archipelago of 43 floating private islands, the scheme's second “lagoon”. Depending on client specifications, prices for these private islands start from GBP6.3 million.

Other lagoons include the world's first floating 18-hole golf course, which will have villas overlooking the greens, and Greenstar, a floating star-shaped hotel, shopping mall and convention centre. Plans for a Venice-inspired floating village with townhouses completes the project.