Entry Into Paradise — Ownership in the Maldives
While owning an oceanview property might top the list of “wants” on anyone’s list, it is becoming more and more of a dream, with increasing scarcity of affordable sea-side land, especially around such popular areas of tropical paradise such as Southeast Asia.
Which is why the Maldives, with its new policy allowing foreigners to purchase property, is indeed a dream come true.
The breathtaking Maldives Islands have long been the embodiment of what every traveller views as the height of beauty and luxury. Far-flung from most travelers’ path, this island nation in the Indian Ocean consists of 26 atolls, north-south off the Lakshadweep Islands, in between Minicoy Island and Chagos Archipelago.
Once unknown even to the luxury traveller, the Maldives came into tourism spotlight in the 1970s, and now tourism is its largest economic industry.
For those who’ve experienced the idyllic scenes of the Maldives, many have lamented their inability to invest in the country by becoming property owners. However, all this changed in 2010, with new legislation introduced, allowing 50-year renewable leases.
With this now opened sector of the Maldives, many luxury resorts have begun to offer private residence options, allowing owners a sound investment option, while also allowing them the flexibility of swapping time and traveling to equally gorgeous locales around the world.
Come back soon for more updates from 365Playground about and on the Maldives, including natural real estate, climate innovation and more!