Luxury : demand for yachts and private jets reaches record levels - Boats & yachts

Luxury : demand for yachts and private jets reaches record levels

Despite the cancellation of the boat shows, 208 yachts have been sold since January 1st compared to 130 last year during the same period.

It’s unexpected, to say the least: despite the times, the market for superyachts and private jets is booming. More than a boom, the demand for these hyperluxury products has never been so strong.

Hyperluxury is not hyperbole, since we are talking about ships of more than 30 meters, and roughly speaking, the fitted price amounts to one million euros per meter. Between January 1 and mid-May, 208 of these vessels were sold on the international market, compared to 130 in the same period the year before, according to Boat International magazine.

And this despite the disappearance of boat shows. For private aviation, demand is so strong that there is an incredible shortage of aircraft. There are only 1,130 jets for sale, only 5% of the world’s fleet, three times less than during the financial crisis, while new aircraft are only coming off the production line in small batches. Buyers have to make up their minds within the hour, or they will be doubled.

700 more billionaires in 2020

The reason for this surge is that there has never been so much money among the rich. In 2020, the number of billionaires in the world has increased from 2,000 to 2,700, according to Forbes magazine. A growth of one third, which is also found among super millionaires. And the fear of contagion, the desire to create a bubble, the scarcity of commercial flights, all this plays a role. Sending e-mails from a superyacht moored in Bermuda is the telecommuting of the rich.

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