What would you like: a luxury penthouse in Palma’s former fishermen’s quarter for 3.5 million euros or rather the sophisticated designer-villa in Port Andratxfor 15 million euros?
Without a doubt, the range of exclusive properties on Mallorca and its neighbouring islands is as extensive as in hardly any other place in Europe. Measured by the selling prices of the individual properties, the real estae business is nevertheless a mere pittance compared with the sums of money that are passed over the table when a luxury yacht in the Balearic Islands changes its owner. The average selling price is at least three times as high as in real estate. Find out why sailing in Mallorca is fit for a king with our useful insight into ports and the yacht scene in the Balearic Islands. […] The Balearics – Royal Ports in the Mediterranean And these are by no means individual cases. In fact, the Spanish holiday islands are slowly but surely turning into one of the largest marketplaces for superyachts in the Mediterranean. “Basically, buying and selling superyachts is a global business,” says Arne Ploch, president of the Balearic Yacht Brokerage Association, BYBA, in Palma. This means that, at a price range of anywhere between 5 and 60 million euros, the client usually does not care if he has to fly to Cannes, Monaco, Palma, Fort Lauderdale or even the Caribbean for the viewing appointment.
“The current location of a yacht has little influence on the decision to purchase. After all, it can subsequently be moved to anywhere in the world,” says Ploch. However, there’s another reason why the Balearic Islands are increasingly the location of sales deals within theluxury yacht business.
Mallorca Ibiza, Formentera, and Menorca are simply very trendy among superyacht owners. Especially during the summer months, some of the largest and most expensive private yachts in the world are bustling in Balearic waters,” says Ploch. This phenomenon was accelerated by easing regional charter licensing requirements for yachts over 20 metres in length. It’s easy to find premium services on Mallorca, but for experiences with a special edge, take a look at abcMallorca’s tried-and-tested luxury list. […] How to do luxury on Mallorca “Many foreign owners weren’t able to charter their ships in the Balearic Islands before, as they have had to reflag their ships for enormous amounts. This has now become much easier,” says the BYBA president. Nevertheless, the chartering of luxury yachts is not a real business, of course. “The annual expenses can be somewhat reduced, which account for about ten per cent of the purchase price.” So why spend 50 million euros or more on a yacht of your own to start with? “For most owners those yachts are a toy for the family or for business clients. Additionally, even the most luxurious hotels offer less privacy and exclusivity than a luxury yacht equipped with every imaginable refinement. And wealthy people are willing to spend a lot of money for that,” assures Arne Ploch. Also, just as the offer has been increasing for years, the demand for these floating private palaces has grown as well. “The fluctuation is really high. Those who buy a yacht, want a bigger one at some stage. Why? Quite simply because the dinghy has become too small for him,” source ABC Mallorca