icon_arrow_down icon_arrow_left icon_arrow_left_large icon_arrow_right icon_arrow_right_large icon_arrow_up icon_bullet_arrow icon_call icon_close icon_facebook icon_googleplus icon_grid_off icon_instagram icon_login icon_mail icon_menu icon_message icon_minus icon_pinterest icon_plus icon_quote_end icon_quote_start icon_refresh icon_search icon_tick_on icon_twitter icon_video_play icon_youtube

Sign up to our mailing list for the latest Boat International & Events news.


Missing your newsletter?

If you’ve unsubscribed by mistake and would like to continue to hear about the latest Boat International & Events news, update your preferences now and let us know which emails you’d like to receive.

No, thanks
It’s a Buyer’s Market, says YPI Director Abdullah Nahar
3 more images

It’s a Buyer’s Market, says YPI Director Abdullah Nahar

Now could be the perfect time to enter the brokerage market, with sellers keen to secure deals, according to YPI director Abdullah Nahar.

Speaking in the latest episode of our lockdown series At Home with BOAT, Nahar said: “A lot of owners believe that this is certainly a buyer’s market and so they are keen to sell - and they’re serious sellers.

"The indication of this is the price point is on average anywhere between from 15% to 20% below the usual market price.”

In particular, YPI has witnessed a wave of first-time buyers looking to escape on board a yacht. Although, Nahar said, with new owners it's a "slower process".

“This way they can create that real love and passion for yachting rather than just jumping on a great deal and not worrying about the running costs," he said.

“We want to ensure that they are making the right choice because being an owner comes with massive financial commitments on an annual basis."

As for charter, global travel restrictions and port closures are set to make this year's summer season a challenging one. But to counter this, YPI has waived its commissions and is offering no penalty cancellation clauses for charterers to get things moving again.

Despite the challenges, Nahar remains optimistic and expects the charter season to return to normality towards the end of summer. “The restrictions are lifting slowly and there's a lot of inquiries coming in,” he said.

“We might need to write off the beginning of the charter season and recover some of it towards the end.”

In the episode, Nahar also touched on the withdrawal of LYBRA and SYBAss from this year’s Monaco Yacht Show. “We respect everybody's decision," he said. "I hope we will all put our differences aside as an industry and collectively work on attracting to this industry the new generation and new clientele.”

For more At Home With BOAT episodes click here.

Upgrade your account
Your account at BOAT International doesn't include a BOAT Pro subscription. Please subscribe to BOAT Pro in order to unlock this content.
Subscribe More about BOAT Pro