Absolute Takes On Affordable Yachting
Category: Real Estate
News has come in that the shared ownership group Absolute is entering the fractional yachting sector.
A special marine division will focus on motor yachts (presumably this means no sailboats).
An initial foray will utilize a specially designed Elan 42, which includes overnight accommodation for the owners, two guests and two crew.
Pricing starts just under USD8000 and upwards. Owners have the option to either fully utilize their time or obtain a rental yield.
At the end of 10 years the yacht will be disposed (this is ostensibly its initial useful life before major refit is required) and owners are entitled to a proportional share of the sale.
Yacht fractional ownership has been in the market in Phuket for a number of years already, with both property developers and hotels such as Twinpalms operating successfully in the segment.