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”.
Lessors, 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.
