Fraser Market Intelligence: Early year demand drops
Superyacht sales in the first quarter of 2023 returned to pre-Covid levels, but were up on the average for the last 14 years while charter demand remained strong.
Mark Duncan, Director of Business Development & Marketing, Fraser
Mark Duncan, Fraser’s Director of Business Development & Marketing, says the demand for superyachts has finally slowed down after a bumper period during the Covid era.
“It happened later than expected, but worldwide data now confirms yacht purchases in the 24m-plus sector are returning to pre-Covid levels,” Duncan wrote in a Column for YACHT STYLE Issue 71 (click to read) featuring data supplied by Fraser, which is represented in Hong Kong, Singapore and Thailand by Asiamarine.
Sales from January to March were down 46 per cent on the same period in the boom year of 2022, although still outperformed the first-quarter average for the last 14 years by 13 per cent.
The 24-40m (79-131ft) sector continues to account for over 75 per cent of the market in terms of volume, although demand for yachts above 50m (164ft) is holding strong, even before accounting for
some sales yet to be officially announced.
However, Duncan said charter demand continues to reflect an all-time high, with enquiries at Fraser more than double the usual for the opening quarter of the year and bookings increasing in duration to an average of nine days.
“With some months still to go before the summer season, we look forward to seeing how late demand affects these trends,” Duncan said.