Malta an Attractive Hub for Super Yachts

| Published on 16 Nov 2011

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In the past recent years, Malta has grown into one of the most prestigious and highly-esteemed super yacht homeports in the world. Stakeholders attribute this dynamic progress to a spectrum of factors namely Malta’s supreme location at the heart of the Mediterranean and the constant financial viability offered to berth owners.

But what really makes Malta stand out from its competitors, such as marinas situated in the south of France or the Balearic Islands, are the comparatively low selling costs involved and the structure of the berth sale.

The Financial Times of London recently reported that luxury marinas generally charge at the rate between €4,000 and €8,000 per square metre for a 25 year old lease whereas Malta charges at the rate of €2,000 for the same period.

Furthermore, the agreement binding the berth owners is structured in the form of a contract of sale - as opposed to a long-term lease – that confers full ownership for the whole duration of the contract (normally 25 years).

Proof of such accomplishment is the recent sale of a second super yacht berth by Camper & Nicholsons Marinas. The purchased berth is situated at the Grand Harbour Marina, Vittoriosa, Malta, which currently holds 33 super yachts berths. Plans for expansion are currently under way, with the latest initiative revolving around the construction of an additional berth in excess of 130 meters.

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