Italy’s yacht leasing market looks
promising for next year, experts believe.
A study undertaken by Monte dei Paschi banking
group and its leasing subsidiary MPS Leasing specifically mentioned
yacht leasing as an area which should grow in 2010.
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This is partly because of a tax amnesty which
was granted by the Italian government in mid-2009 and which is
expected to result in more investments in luxurious goods, of which
up to €200 million could go to yachts.
Sardaleasing’s MD Stefano Esposito said that a
document issued in July 2009 by the country’s tax authorities has
also clarified the contents of confusing legislation introduced a
few years ago, making it easier for people to understand how much
VAT they will have to pay when leasing a yacht.
He added that as boatyards have become full
with stock, prices have decreased by up to 35 percent, which will
translate into a higher number of sales next year.
But Rosario Corso, chairman of Italy’s leasing
association Assilea, has warned that yacht leasing remains a “niche
sector” with no more than 6 percent of overall leasing volumes and
that the upturn also needs to be “driven by the revival of its most
traditional assets, such as real estate and equipment”.
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By GlobalDataLessors, he added, are still waiting for signs
of a turnaround in leasing – what is happening in orders and
industrial production – hoping a revival of investments from SMEs
will soon follow.
