Cost of Living in Maldives in 2021

All prices in USD currency based in Malé /Hulhumalé area as of Mid-February 2021.

1.    Property
a.    Property Rental:
-    1 Bedroom: $500 - $625
-    2 Bedroom: $850 - $1,000
-    3 Bedroom: $ 1,250 - $1,500

b.    Buying property:
-    Bare land: Approx. $800 per SqFt
-    Existing Building on land: Approx. $1,400 - $1,600 per SqFt
-    Build a New Building on bare land: $80 - $95 per SqFt (Approx. Average sum cost)

2.    Transport
a.    Private Transport: New motorbike @ $3,750 - $4,000, Used motorbike (2-4yrs): $2,000
b.    Petrol: Approx. $0.5 per Ltr, Average use motorbike use @ $1.6-$2.0 Per Week
c.    Public Bus transport: Public Bus $ 0.65 per ride (can buy Bus card & top-off)
d.    Speed boat: Average $ 20 per one-way ticket to nearby islands (good view)

3.    Groceries
a.    Weekly Average: $15 - $20 Per Person Weekly
b.    Healthy Diet: $20 - $50 Per Person Weekly
c.    Local Cuisine: $12 - $20 Per Person Weekly
d.    Eating Out: $15 - $20 Per Person Daily for 3-Meals at a Restaurant/Café
e.    Price Change: Mainly as economy is dependent on USD during the recent lockdowns tourism was very low and USD shortage forced its price to go up, being a 99% product import country the prices increased on almost all products. During Early February 2021, the USD prices lowered to MVR 17.50 from its initial high of MVR 19.30 Per dollar. Projections show price to lower to near bank rate of MVR 15.42 by Aug-Oct 2021.

4.    Utilities
a.    Tap Water (via MWSC): $65 - $100 (Average 3 Person 1000 Sqft apartment)
b.    Bottled Water: 1.5Ltr Case (24 bottles) OR 5Ltr Case (4 bottles) for $3.90)
c.    Electricity (via STELCO): $ 0.13 Per kWh (Average 3 Person 1000 Sqft apartment $130/Mnth)
d.    Mobile (Prepaid plan): $23/Mnth for 5GB Data, 250min voice, etc (flexible plan)
e.    Mobile (Post paid): $23/Mnth for 7GB Data, 300min voice, etc (fixed monthly plan)
f.    Internet: 250GB Fiber package @ $100/Mnth average

5.    Insurance
Unfortunately, I do not know much to comment on insurance, but please check the following insurance providers;
a.    Allied Insurance
b.    Amana Takaful
c.    Ceylinco Insurance
d.    Solarelle
e.    Dhivehi Insurance


6.    School Fees;
a.    Billabong High International School Maldives, Tuition Rates: $2,580 - $4,380 per year
b.    Lale Youth International School (LYIS ), Tuition Rates: $135 - $175 per month

There are other schools and higher education centers available easily on the internet.

7.    Leisure Activities
a.    Coffee Culture, Maldives has a very diverse coffee culture and locals can be found at any time of the day in the many cafés and bistros for their daily shots. You can find a variety of internationally reputed coffees in the Maldives, majorly Lavazza, and illy, Segafredo, Nescafé, and flavoured coffees as well.
b.    Excursions & Activities, You can easily go to nearby islands and enjoy the Maldives as a tourist, sun, sand, and sea. Although the capital city Malé is a concrete jungle the balance of the nearby island out the city vibes for calmer ones.
c.     Diving is easily one of the best practices you can take up while in the Maldives, and there are quite a few internationally recognized dive sites nearby to the capital city areas.

There are many things that may be uniquely suited in the Maldives for Leisure, so I would suggest you to be creative and imagine it.