Our luxurious private residences in the Maldives are the ultimate expression of our Slow Life ethos. Learn more about the benefits of Soneva Villa Ownership, from our full maintenance services to our Villa Rental Programme
In 2011, Soneva made history as the first and only company to offer luxury real estate for sale in the Maldives to foreign buyers, handing over the first set of keys that same year. Soneva Villa Ownership was launched at the request of our ‘Soneva enthusiasts’, or repeat guests, who wanted to enjoy the many benefits of our world-renowned hospitality while creating a bespoke home-away-from-home that they can enjoy for many years to come.
Our portfolio of Private Residences at Soneva Fushi in the Baa Atoll and Soneva Jani in the Noonu Atoll are built to the same sustainable principles and uncompromising standards as our world-leading resorts. Designed to have the minimum impact on the earth, they epitomise our unique take on ‘barefoot luxury’ – from their beautifully understated design that harmonises with the outstanding natural environment, to the rare and memorable experiences that owners and their guests can enjoy at our award-winning resorts.
When you are not using your Soneva private residence, our Villa Rental Programme enables you to offset residential expenses through an annual rental income. Simply tell us your occupancy dates, and our team will manage all of the details as part of our resorts’ hospitality offering – from housekeeping to maintenance.
According to Maldivian law, ownership at both Soneva Fushi and Soneva Jani is leasehold. Private Residences are purchased on a sub-lease basis during the leasing period of the island between Soneva and the Maldivian Government.
From contract signing to handing over your keys, our buying process can take between six and 18 months, depending on the level of customisation within your villa. For newly built properties, construction begins from the following low season (May 15 onwards), and is usually completed within 12 months.
Overseen from start to finish by our experienced team, ownership agreements are structured through a number of on- and off-shore contracts, including a reservation agreement, lease agreement and villa management agreement (the latter is optional for villas which are purchased off-plan).
At handover, villa ownership is transferred to the new owner according to the Tourist Resorts (Transfer of Rights) Rule No: 2010/R-14, a and an application is lodged through the Maldives’ Ministry of Tourism to obtain a ‘strata title’ as evidence of official ownership. Following the purchase, Private Residence owners are subject to a 16 percent local Tourism Goods and Service Tax, which is payable on the gross invoice value and takes into account any rental revenues gained through the Soneva Villa Rental Programme.
We provide a five-year construction warranty on newly built villas and a three-year construction warranty on existing villas. The materials used throughout the construction process are chosen for their durability in the Maldives’ tropical climate, as well as to ensure that they meet our exacting sustainability, quality and aesthetic standards.
Justin Kingsley, Group Director, Soneva Villa Ownership
Soneva’s exquisite beach and over-water villas offer the rarest of luxuries – that of time, space and peace to savour life’s simplest pleasures with loved ones in a secluded piece of paradise. As a home-away-from-home, Soneva’s bespoke interiors are personalised to Villa Owners’ exact needs, from beautiful furniture hand-crafted by local artisans to one-of-a-kind details, such as dining towers, twisting waterslides and children’s treehouses.
Our Private Residences achieve a strong cash yield if you choose to place them in our Villa Rental Programme when you are not in residence. Operating across both Soneva Fushi and Soneva Jani, the scheme enables owners to earn an annual rental income, with a healthy return after operational expenses.
As a Soneva Villa Owner, you will benefit from significant savings at our award-winning resorts during your stay. These include a 20% reduction on domestic flight transfers, food and beverages at our dining destinations (excluding mini-bar), and experiences (excluding third-party operators).
Over the last two decades, rates at Soneva Fushi have compounded at between 8 and 10%, with underlying capital prices expected to appreciate at a similar level. Our first Private Residence resale at Soneva Fushi indicated growth of more than 40% over the six-year period since the property was first purchased.
Most Soneva Villa Owners choose to enjoy their second home in the Maldives for between 30 and 45 days each year which, considering steady room rate increases and the lack of related taxes (such as a service charge), amounts to an ROL close to 20 percent of the historic purchase price.
All Soneva Villa Owners benefit from our all-important signature touches, including personal Barefoot Guardians, complimentary film screenings at Cinema Paradiso, access to The Den and our children’s activity programmes, and unlimited complimentary access to our chocolate, cheese and ice cream parlours.
For your peace of mind, each Private Residence is fully managed by our dedicated resort estate management team. As well as general maintenance and cleaning, this includes gardening and pool cleaning services, villa and common facilities insurance, repair and replacement of furnishings and electrical equipment, air conditioning and 24-hour security.
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