Wednesday, March 20th, 2019

Most Expensive Berths in the Mediterranean

Published on September 11, 2014 by   ·   No Comments

This August, yacht berths in Ibiza and Formentera held the dubious crown of being the most expensive in the Mediterranean.

 A lack of supply of 30-metre plus moorings has, for the second year running, put the Islands in the top spot for pricing – more than 1,700 euros a day in Ibiza and more than 1,300 euros in Formentera.  These rates are slightly higher than the competing Balearic ports, with only the Port of Monaco exceeding.

Managing Director of Marina Botafoch-based Ibiza Sotheby’s International Realty, Glynn Evans, says, “These figures show how great the demand is for berths in the Islands, with prices exponentially increasing along with the size of the yacht.  The Islands have been particularly fashionable with A-listers and high net worth individuals this year, with almost all of them spending some time on board either their own, or a chartered, superyacht.  The luxury segment in Ibiza is growing at an unprecedented rate, more beach clubs, five-star hotels, nightspots, world-class restaurants, and this is creating a pent-up summer demand for moorings.  The ‘economic crisis’ has certainly not been seen here, in fact quite the contrary.”

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Whilst the cost of temporary berthing varies according to boat length, prices in Ibiza and Formentera are reported to be 35% more expensive than in Mallorca or Menorca.  Nonetheless, occupancy rates in August have been at 100% in these two most expensive Islands, while availability still exists elsewhere in the Balearics.  Of course Ibiza and Formentera have far fewer berths – 2,888 and 84 respectively, compared to a massive 16,186 in Mallorca and 3,273 in Menorca.

 Meanwhile, across in Ocean Village Marina in Gibraltar, daily rates haven’t reached anything like the 1,700 euro mark, despite being a very busy and popular place for superyachts to stop-off – in particular for cut-price fuel and provisioning in Morrisons supermarket which celebrated its 20th anniversary this year.  A 50 metre vessel at Ocean Village would pay, in peak season, £4.50 per metre per day – that’s £225 or less than 300 euros.

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