Whether 2024 is the year you decide to purchase your first yacht or if you are already an experienced owner, we hope the insights shared below will help you understand the state of the market and make more informed decisions.
Volume and Space
While traditionally one might expect an emphasis to be placed on sleek lines, cutting-edge speeds, and agile maneuverability, for many, increased volume and space have taken over. The allure of spacious interiors, high ceilings, and family-friendly layouts is redefining the very essence of luxury at sea.
Not merely a shift in aesthetics, the demand for this particular feature perhaps reflects a broader cultural change. As yachting becomes increasingly synonymous with family retreats and multi-generational vacations, the demand for expansive interiors and ample headroom is on the rise. Discerning buyers are seeking vessels that not only cater to the thrill of the open sea but also provide a comfortable and spacious platform for family bonding. For many buyers, the true measure of luxury lies in the freedom to explore, unwind, and create cherished moments in a voluminous and inviting space.
Advancements in yacht technology are responding to this growing trend. Smart and efficient use of space allows for larger living areas without compromising on performance. Innovations in propulsion systems and hull design ensure that spacious interiors do not offset navigation, offering a harmonious balance between comfort and performance.
This trend should also be taken into consideration for those interested in making their yacht also available for charter. Charterers are increasingly seeking vessels that provide a home-like ambiance on the water, making extended voyages more appealing and comfortable.
Long Range and Low Consumption
A significant tide is turning towards a new era of exploration and efficiency. Many yacht buyers are increasingly setting their sights on a combination of two key attributes: extended range and fuel efficiency.
Explorer yachts, once niche, are now at the forefront of yachting trends. “The desire to be in congested ports is becoming less appealing, with an increased appetite for remote destinations, sea-worthiness, and autonomy, impacting the client's needs and expectations of the yacht's capabilities. This has led to an all-time high of explorer yachts in-build and on order,” says Matthew Stone, IYC Sales Consultant and Managing Partner California.
With environmental consciousness at the forefront of global conversations, yacht owners are not only looking to extend their journeys but also to do so with minimal ecological impact. “Rising fuel costs and recent high-profile ‘eco incidents’ reported in the media,” shares Michel Chryssicopoulos, IYC Global Managing Partner, “have heightened awareness about the environmental footprint of luxury travel. Expedition yachts, with their advanced propulsion systems and energy-efficient technologies, are well-positioned to allow owners to indulge their wanderlust while minimizing their carbon footprint.”
Economic considerations of those looking to maximize the utility of their yachting investment, the ability to travel farther on a tank of fuel not only enhances the yachting experience but also stretches the economic value of each voyage.
To read more about this growing trend, read our full feature on explorer yachts and the work our partner, Cantiere delle Marche, are doing.
Wellness & Fitness Facilities
“As clients increasingly view yachting as a lifestyle choice, the integration of wellness and fitness facilities becomes a compelling and necessary addition to superyachts,” says Richard Gray, IYC Head of Sales UK. These additions offer a dedicated space for physical activity, relaxation, and rejuvenation. Fitness centers equipped with state-of-the-art exercise equipment cater to guests who prioritize maintaining their health and fitness routines while at sea.
Wellness spaces, such as spa facilities, meditation rooms, and yoga decks, provide a holistic approach to overall well-being. Regular access to fitness facilities supports physical health, while spa and relaxation spaces contribute to mental well-being. Such considerations align with a contemporary understanding that true luxury is in the investment made in one's own health, making wellness facilities on superyachts a vital component in the pursuit of a fulfilling and balanced lifestyle.
In addition, the incorporation of features such as juice bars, cold and hot rooms, and more highlight the commitment to comprehensive well-being. “Cold plunges and contra-flow swimming pools are also proving to be desired indulgences on board,” says D.J. Kiernan, IYC US Commercial Director. These wellness approaches represent a departure from conventional deck designs, transforming the yacht into a sanctuary that promotes health, relaxation, and balance in a way that exceeds the accustomed options on superyachts.
AV/IT
Staying connected is no longer a luxury but a necessity. With the rise of new satellite internet providers, it is indeed becoming more and more important for owners to be as well connected as possible for both work and leisure. As such, TV, HI-FI, Wi-FI in all areas including external areas are becoming as important as technical design features.
Starlink, with its constellation of low Earth orbit satellites, stands out as a necessary luxury on board. Starlink's global coverage and cutting-edge technology ensure seamless communication, entertainment, and work capabilities. With reduced signal travel time, and its potential to offer more consistent connectivity in challenging environments, Starlink promises high-speed, low-latency internet access even in the most remote corners of the ocean.
Manufacturer Reputation
“In a world where the number of new build construction shipyards is increasing year on year, clients are looking for their yachts to have distinguished features and a sense of respect within the industry,” says IYC Sales Consultant, Jamie Swaine. Discerning clients continue to set their sights on vessels delivered by major Northern European shipyards, with a secondary nod towards esteemed Italian builders when budget considerations come into play. This strategic inclination isn't merely a matter of prestige; it's a calculated move driven by the desire to safeguard and potentially enhance the retained value of these vessels.
Yachts with Dutch and German pedigree have long held a revered status. The commitment to precision, innovation, and unparalleled craftsmanship these yards promise contributes significantly to their enduring allure. As yachts age gracefully, the continued respect for the meticulous build quality synonymous with Northern European shipyards serves as a hallmark, maintaining and, in some cases, even appreciating the vessel's intrinsic value over time.
Some clients turn their attention to major Italian builds who offer an appeal for budgets that don’t stretch as far, without compromising on elegance and functionality. While potentially more accessible in terms of cost, Italian-built yachts still carry the legacy of fine craftsmanship and a commitment to quality that resonates with those who seek a balance between value and prestige.
Amidst these established maritime giants, a rising star emerges —Turkish shipyards. The increasing prominence of Turkish builders is the result of a deliberate pursuit of excellence in design, engineering, and construction. As Turkish shipyards continue to invest in state-of-the-art facilities and attract top-tier talent, their yachts gain recognition for their quality, innovation, and competitive pricing.
Looking to buy or sell your yacht? Our expert Sales Consultants are available to help guide you towards the yacht that best matches your unique vision and needs. Contact them here.
