This September saw the 24th edition of the International Monaco Yacht Show, in Port Hercule, Monaco. Unquestioningly, the IMYS is the most glamorous and exciting event in the world of super-yachts, bringing buyers, owners, trade professionals and enthusiasts together in the beautiful setting of Port Hercule and aiming to generate excitement and anticipation for the coming year.
The yacht industry understandably likes to keep owners’ names, sales and prices quiet, however after some difficult years for the industry; it seems from the general figures that the tide has turned. The number of super-yachts sold during the first half of 2014 saw a 35% increase over the same period in 2013, according to figures provided by brokerage Camper & Nicholsons International.
However the big question at this year’s event is, “are the Russians coming?”
Russian billionaires have long been a driving force in the market for the world’s biggest and most luxurious super-yachts and over the last five years the industry has long reliant on Russian clients. However economic sanctions imposed on Russia by the US and Europe has left the industry wondering if the party is over.
Although the industry is right to be cautious given the political instability in Russia and in the Middle East, it’s still early days and the effect of the sanctions has not be felt evenly across the industry, and there is also plenty to raise a glass too.
The US and European markets are recovering, there are still plenty of Silicon valley billionaires looking to indulge, such as Microsoft co-founder Paul Allen’s and his 126-meter Octopus or Oracle’s founder Larry Ellison’s and the 138-meter Rising Sun.
What is also certain is that super-yachts are becoming, well, more super. Of the ten largest super-yachts in the, seven were delivered over the past decade, including the 180-meter Azzam, the world’s largest yacht.
Located in Marbella, just 5 minutes from Puerto Banús, itself home to some of the world’s most expensive super-yachts, Butterfly Residential has a working relationship with some of the world’s top luxury yacht brokers. So if the IMYS has left you with the urge to purchase a super-yacht or whether you’d prefer to charter a crewed 5-star floating palace, take a look at our luxury yachts for charter and sale or contact us with your requirements.
Butterfly Residential are market leaders in the luxury real estate sector with exclusive properties for sale and luxury properties for rent in some of the finest locations across the world.