Villa 42 at Soneva Fushi
Soneva Fushi, Kunfunadhoo Island, Baa Atoll, Republic of Maldives
Soneva Fushi, Kunfunadhoo Island, Baa Atoll, Republic of Maldives
Soneva Fushi, Kunfunadhoo Island, Baa Atoll, Republic of Maldives
SOLD: An exceptional 6-bedroom beachfront villa for sale at the multi-award-winning Soneva Fushi resort in the Maldives, available to buy independently or together with the adjacent 3-bedroom Villa 41 to create a magnificent nine-bedroom residence.
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6 Bed | 7 Bath
USD 11,250,000
Key Details
Soneva Fushi, Kunfunadhoo Island, Baa Atoll, Republic of Maldives
SOLD: An exceptional 6-bedroom beachfront villa for sale at the multi-award-winning Soneva Fushi resort in the Maldives, available to buy independently or together with the adjacent 3-bedroom Villa 41 to create a magnificent nine-bedroom residence.
Soneva Fushi is located in the Baa Atoll, a UNESCO Biosphere Reserve which is accessible within a 30-minute scenic seaplane flight from Velana International Airport near the capital Malé, or a short speedboat ride from nearby Dharavandhoo airport if travelling on a domestic flight.
Villas 42 can be found nestled on the southwest ‘sunset’ facing corner of Kunfunadhoo Island, one of the largest in the Maldives. This magnificently secluded villa is an excellent choice for buyers seeking 'intelligent luxury', where exceptional intuitive service is harmonious with environmental sensitivity and gracious living.
Positioned just steps away from the white sandy beach, the property has been constructed using some of the finest, sustainably sourced, materials with wooden walkways connecting the detached living areas. This branded residence provides around 2,289 sqm (24,638 sq ft) of total built up area.
Villa 42 (6 beds | 7 baths)
Total built area: 2,289 sqm (24,638 sq ft)
Approximate plot size: 2,385 sqm (25,672 sq ft)
Max Occupancy – twelve adults and six children
Distributed over two storeys, the property includes six large bedrooms, two of which can interconnect. There’s a centrally positioned living area at ground floor level with generous seating, kitchen and dining area and towards the rear of the property is a private spa suite with treatment room, sauna, steam room, gym and bathroom. Also on this level is the principal bedroom with en suite semi-covered/open-air bathroom and an outdoor daybed close to the beach. The main guest suite is also on ground level. Both of these bedroom suites feature outdoor bathrooms with cascading waterfalls, and they open onto a large deck that leads to a private pool with waterslide and a children's pool.
There are four additional guest bedrooms on the first floor, each with their own en suite bathroom and dressing room. It also features a spa suite with treatment room, sauna, steam room, gym and bathroom.
Villa Owners can enjoy many benefits, including income sharing in the Villa Rental Programme, allowing for a return on investment, discounts at food and beverage outlets in the resort, exchangeability of owner days within all Soneva properties and the service of a Mr or Ms Friday, private butlers who are on hand to cater to every wish.
Discovery is a way of life at Soneva Fushi, with facilities including Soneva Soul (the new transformative wellness concept), the Den (the largest children's club in the Maldives) and exhilarating experiences such as zip lining through the treetops for dinner or snorkelling with whale sharks and manta rays at Hanifaru Bay. Furthermore, at Soneva Stars they curate activities ranging from Michelin-starred chefs to one-on-one classes with sporting legends and acclaimed therapists. Homeowners get to enjoy it all!
Read full detailsThe Maldives is blessed with year-round sunshine and average temperatures of 28°C, rising to 32°C during March and April. Golden beaches and mangroves form a dividing line between sparkling blue waters and a verdant island interior – the diversity of plant and animal life has earned these atolls UNESCO World Biosphere Reserve status. The pace is relaxed, but there is plenty to do on both land and water. Clear waters and rich marine life make for exhilarating diving and deep sea fishing, whilst water sports ranging from kayaking and catamaran sailing to wakeboarding and kite surfing are available in abundance.
The Soneva Group pioneered the "No News, No Shoes" philosophy. Soneva Resorts' cuisine is dominated by fresh seafood and Asian flavours using fresh product from its own organic gardens. Once on the island, little more than a bicycle or a boat is required to get around.
As a villa owner you will not only own the ultimate private island lifestyle but can also benefit from attractive rental yields. The Maldives offer very tax efficient ownership and does not have capital gains or acquisition taxes
Benefits of villa ownership include:
VILLA RENTAL PROGRAMME
Your villa is yours to enjoy. Therefore, the Villa Rental Programme is tailored to your lifestyle needs. As an owner, you may use your villa for as little or as much time as you like, whether that be one week or eleven months. When you are not in residence, you may elect to place your villa in the Villa Rental Programme. Upon enrolment the resort will ask you to provide them with a schedule of when you would like your villa to be included in our inventory over the next calendar year. If you change your mind, you may terminate with six months prior written notice and your agreement to honour any previously made bookings.
Joining the Villa Rental Programme allows you to enjoy your private residence and offset the ownership expenses with the income generated by the villa rental when you and the family are not in resort. Every quarter, Soneva Fushi will calculate the Gross Revenues generated by your Villa. Gross Revenues will exclude any applicable sales commission and gross taxes. From Gross Revenues, Soneva Fushi will take 10% to pay for those expenses associated with the rental of your villa like housekeeping, laundry and the daily room amenities provided to villa guests, and marketing expenses. The remaining 90% of Room Revenue will be allocated between you and Soneva Fushi on a 50/50 basis.
From your 50% share, annual ownership expenses equivalent to 1.5% of the purchase price are deducted. A further 0.5% of the purchase price will be deducted annually and set aside. The resulting net revenues can then be remitted to you (subject to applicable Maldivian withholding and income taxes, currently at 15%).
You can also keep the net revenues in-resort to be applied against future spending so that you will not ever have to pull out your credit card to pay for any additional holiday expenses incurred in-resort such as your food and wine and spa activities.
LAND LEASE AND VILLA PURCHASE AGREEMENTS
Soneva Fushi properties are sold on a renewable leasehold and fully maintained by the resort to ensure your peace of mind, including repairs, fixtures and fittings, lighting, gardening and replacement furniture.
Any future lease extensions will be passed onto the buyer at a formula equal to [(1/total number of villas) x lease extension price for the island]. There are currently 72 years remaining on the Soneva Fushi headlease (as of December 2022).
OWNERSHIP AGREEMENTS
Ownership will be structured via a series of onshore and offshore legal agreements to maximise tax effectiveness. These agreements comprise but are not limited to a Reservation Agreement, a Lease Agreement evidencing the buyers’ lease rights on the land, a Villa Management Agreement, showing Soneva’s exclusive right to manage the property on behalf of the buyer, and a Villa Rental Agreement, which shows the terms of rental of the villa (optional for villas yet to be built).
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