New social housing flats advertised for rent at higher prices
Posts on various online platforms show listings offering two- and three-bedroom apartments for monthly rents of around MVR 25,000.
Flats allocated under the government’s Gedhoruveriya Housing Scheme are being advertised for rent on social media, only a week after the Fahi Dhiriulhun Corporation (FDC) handed them over to the new owners.
Posts on various online platforms show listings offering two- and three-bedroom apartments for monthly rents of around MVR 25,000, significantly higher than the amounts the owners are required to pay to the government.
Under the Gedhoruveriya scheme, recipients pay a down payment followed by monthly rent to FDC. The rent structure set by the government is as follows:
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Two-bedroom flat: MVR 7,000 monthly rent + MVR 1,000 maintenance fee; down payment of MVR 15,000.
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Three-bedroom flat: MVR 9,000 monthly rent + MVR 1,500 maintenance fee; down payment of MVR 25,000.
According to FDC, owners are expected to reside in the apartments rather than lease them to others. However, similar cases have occurred in previous housing projects, including in Hulhumalé Phase 1 and Phase 2, where recipients later rented out their units.
Authorities in past administrations have announced plans to identify and penalise those who sublet government-allocated flats, though enforcement has been inconsistent.
The government has not yet commented on whether inspections will be conducted to address the current cases of subletting under the Gedhoruveriya scheme.
