Small Boat Insurance Ireland
Berths Spanish as an alternative investment
Since the late 1960s and early 1970s and the beginning of the holiday and tourism package, Spain, was transformed into a major European economies, with a diversified market that covers the manufacturing and services. Between 1961 and 1973, called the years of development, The Spanish economy grew at 7% per annum, with a per capita income of $ 500 per year. After joining the EU in 1986 Spain once again had one of the fastest world, growing economies, with an average annual growth 4.1% between 1986 and 1991, compared with an EU average of 3%. Similarly, trade abroad rose from $ 23.8 billon in 1975 to 52.5 billion U.S. dollars in 1980 and to $ 143 billion by 1990.
Today, Spain's economy is the fifth largest in Europe, representing about 9% of EU production. Income at 78% of the EU average, is among the lowest in the EU, despite the well is ahead of Ireland, Portugal and Greece. The main trading partners are France Spain, Germany and Italy for exports, and Germany, France and Italy for imports. Spain's most important industries include tourism, chemicals and petrochemicals, heavy industry, and food and beverages. Spain is also the European country after the fourth largest manufacturer of Germany, France and Italy. The principle of growth areas include tourism, insurance, real estate, electronics and financial services. Tourism is one of Spain's most important industries, especially in Andalusia, earning approx. 4% of GDP and employing about 10% of the workforce, both directly and indirectly. With more than 5,000 kilometers of coastline and a unique blend of nearly perfect weather throughout year and the Mediterranean lifestyle, Spain has become a Mecca for tourists and Boating enthusiasts as well.
With the advent of airlines low cost, a weekend trip to Spain has become the norm for many European travelers and the huge east coast, all 750 miles of it, yet is home to more boats Britain than anywhere else in the Mediterranean. While the expansion of the economy and influx of foreign visitors in the seventies and eighties, certainly caused him problems unique the development of complex intelligent as Sotogrande marina, and the hosting of the 2007 Americas Cup in Valencia, are undoubtedly attract enthusiasts Boating back in large numbers. Increasingly, many of these fans are also buying second homes, or as a holiday home to enjoy your Boat when traveling to Spain, or even to retire.
Demographically, the generation of buyers called "baby boomers" (now 42-58 years) is now retire in the next 10 years. With considerable wealth, which was built on the property, business interests and inheritance, they have long wanted to see these goods taxed on death. This trend is seen throughout Europe, and a cultural change in this age group is retiring early, spending more of their wealth, and generally enjoying life to the fullest. In the UK, this exodus, which was a small drop became a torrent. Increasingly wealthy, healthy individuals are moving abroad, encouraged by the media and travel low cost in order to enjoy life more pleasant and relaxed in the sun. With the Global demand for recreational boats is estimated to reach 24 billion U.S. dollars by 2006, the projected growth of 7% of annual sales worldwide, with Europe experiencing the highest growth over the past five years, there seems little to stop the European market to grow and expand further in coming years.
Owning and maintaining a boat in Spain is becoming easier, cheaper and much nicer than the UK. With the advent of cheap flights, more regular services, and new infrastructure, it is easier and faster to reach the Spanish coast and being on the water, which is for an owner in the Midlands to reach his boat in Southampton. The Spanish coast is divided in six Costas – Costa del Sol is the most southern, followed by Costa Calida, Costa Blanca, Costa del Azahar, Costa Dorada and most northern Costa Brava. The climate varies along the coast of Spain enormously from Coast to Coast and the marina to marina. From Cabopino to the pretty little glitzy Puerto Banus, where the yachts are squeezed in only to be admired by the less affluent passers-by! Major cities such as Valencia, Almeria, Malaga and Barcelona offer marina facilities right at its center, an option that is becoming more popular, many cities are being transformed into world-class destinations. Valencia in particular is beginning to rival Barcelona, like the Copa America is imminent billion called for investment in the euro area. Marinas and navigation facilities on both sides of Valencia, as Denia, and the southern areas of the city are feeling benefits.
The Balearic islands cover only a small fraction of the Mediterranean, is still perhaps one of the most popular cruising areas, and as such are the most densely populated with boats. In recent years Mallorca has to change its image as a night club, and a huge marketing campaign boosted the points on unknown and most beautiful island. A recent article in the Daily Bulletin Mallorca outlined the amount of money being invested in real estate and yachts on the island by the United Kingdom city traders. With the bonus of more than 1 million euros, these buyers do not just want a home but a yacht to match. This, as elsewhere, has led to an unprecedented demand for mooring space. If boat owners want a quiet laid back marina, or one with a busy nightlife, the only thing they all have in common is the lack of adequate beds, both in size and availability.
The shortage of beds in the Mediterranean region is getting worse. There are currently around 160 thousand boats waiting for a space in the long term and the captains are lucky to have a sitting tight. Only recently, a report commissioned by the Spanish Government concluded that in 2005, a total of 2,300 vessels will be looking for a place in Andalucia alone, and by 2020 this figure would jump to more than 5,000 yachts just this one area. The report concludes: The demand of the nautical tourism market on the Costa del Sol alone is reaching unprecedented numbers, that can be remedied only with a dramatic improvement of the facilities. Indeed, the 11 ports along the coast, serving for yachts, only has 4200 points between mooring them. Figures issued by Costa Sol Tourist Authority suggest Coast ports will increase by 300% the number of mooring spaces available only to meet the current requirements.
The Director General of Tourism Sunshine Coast, Ana Gomes said: "We are not many mooring points and therefore waiting lists are enormous. "She went on to explain that, due to be in saturation marinas there was little benefit to be had from marketing and promotion. Nearly 60% of owners were mostly tourists from Germany, France and the UK. With the lack of availability, prices of beds has increased dramatically, along with the annual income required by the owners. This has compounded the problem, because investors are now entering the market with the prospect of long term capital growth along with excellent rental returns between 8% and 15%. Berth prices vary greatly and depend on several factors, including size (length and width), location (both the marina and position within the marina itself), and duration of remaining lease. In general, they start at around 50,000 euros. and go to several million for the largest well. As an example there is currently a vacancy in Sotogrande 20m sale of 600,000 euros – a rise of similar size in Puerto Banus would sell for more than a million (if they were available!)
When a new marina is established, the port operator is leased by the Government for a fixed period. These periods are usually between 30 and 50. The cradles are then bought and sold on a lease basis only. Gradually, over time, the duration of the lease left in a place becomes shorter, depending on the date of original grant was awarded to the port operator. Usually pier leases have remaining between 15 and 25 years. Of course, in a brand new marina, the pier will have a permanent contract. Each berth will have its own charter, essentially a document of title to land, which is signed and witnessed by a notary in any sale or purchase. Each pier is defined by its size and a number on the plan of the port authority. The bunk beds are often cited in other words the length and width. (8m x 3m). The bigger the boat, the greater the piers have to be! Berths are bought and sold through brokers. The largest of these is the Genus Marine Leisure, which has been working in Spain for almost 20 years. Prices for any particular wharf are dictated by supply and demand, and so experience, Genus intimately know all the marinas and can therefore price their cribs to sell at market price sensitive. If it is considered that the owner is asking too much, the wharf sale is refused. In some ports, you can only buy the crib, but not to rent it to someone else (this was a condition the original location to the port authority). We can supply a list of these (if necessary). In these marinas boat owners can only be used the pier. Sailing conditions in the Mediterranean are virtually perfect, as there are no tides to cause problems both in terms of navigation or in or out of marinas. In the UK (as elsewhere) Travel must be planned carefully to ensure that the boat can both enter and leave the harbor with the tide. This can mean waiting for hours to correct the conditions – something that never happens in the Med! In the UK, boating is restricted to summer months (3 max) – More and more owners are moving abroad to have access to 12 months of sailing in warm waters and calm.
motor boat enthusiasts tend to contribute about Costa del Sol marinas for two reasons. First, the diesel in Gibraltar is substantially cheaper than in Spain. According to the weather conditions are more smoother and calmer. (Costa de La Luz Atlantic front is known for its windy conditions and attracts surfers) sailing enthusiasts tend to contribute more to the north, towards the Balearic Islands, as there is no wind, usually more, and therefore better able to navigate. In Spain, as elsewhere in Europe, There is a strong environmental lobby that has grown in strength over the last decade, especially with the election of Mr Green Brussels. Worldwide, the areas environmentally sensitive areas are protected and classified as areas of great natural beauty or nature reserves. The argument for the construction of more berths never was so strong, but have neither the environmental pressures on an already developed coastline.
The Spanish Costas, and particularly the Costa del Sol, were warned of an impending environmental catastrophe, if the development is not under control. The Government is in a very unpleasant position, as eco-tourism is intended to be a growing market in the next decade. However, it is also quite aware of the lack of facilities and berths for vessels and recreational operators. Plans for new marinas are constantly being proposed, but usually drag on for many years through lengthy planning meetings and lobbying. Boats engine in particular, are not considered environmentally friendly. Accidental discharge of fuel and emptying of tanks in the port (accidental or not) do not help. While the green lobby is fighting to prevent the development marina yet, the availability of beds becomes more acute. In Italy recently, a new law was introduced to ban motor boat that comes within 200m of the coast, making it illegal to anchor in rocky coves and inlets.
All this helps raise the prices even more cots. The bunk beds were sold through 10,000 to € 20,000 a few years ago, are now changing hands from 80,000 to 100,000 euros. This trend can only continue with the lack of new marinas being built. As a company specializing in maritime services, financial Marinablu offers a unique facility with our partners in the Spanish banking to fund the dock, attached directly to the pier itself. This feature is only available through ourselves. This allows our clients (whether owners Boat or investors) to raise capital against its own pier. Existing owners are also able to release capital from their cradles to buy a bigger boat or simply to re-invest in another berth.
PS-We are currently selling one of our cots in Estapona – a 25m wave – send an email for more details.
About the Author
David is a director of Marinablu International Ltd. The company specialises in arranging European lease finance for boat owners, along with marine mortgages, berth finance in Spain and currrency services. More details are available at http:www/boat-leasing-finance.com
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