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The next wave of luxury real estate: marina developments with yacht parking
Image: CNBC
Marinas are becoming the next big draw for luxury real estate, as the global wealthy search for homes to park their ever-larger yachts, according to developers.
With the number of yachts surging since Covid-19, real estate developers and investors are rushing to fill the shortage of boat slips and marina communities. There are now over 6,000 superyachts over 30 meters (98 feet) around the world, and another 200 delivered every year, according to SuperYacht Times.
The growth in the size and number of yachts has created a shortage of yacht slips. And investors are rushing to fill demand. Last year, Blackstone paid $5.6 billion for Safe Harbor Marinas, which then paid $1.5 billion in August for 65 marinas and storage sites purchased from MarineMax.
This page shows only an excerpt. The full story is published by CNBC.
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