South-East Asia yacht sales surge with 24m+ sector gaining momentum

Boat Lagoon Yachting has revealed a surge in the sale of yachts in the South-East Asia region. The company has reported record sales, with 85 yachts having been sold during the last 24 months, 42 of which have been new yachts. The company has also noted a marked increase in sales in the above 24-metre sector, one which has historically been less popular within the region.

One of the region’s longest-established luxury yacht importation, distribution and after-sales organisations, Boat Lagoon Yachting has 30 years of experience and is one of the largest yacht dealerships operating in Singapore, Malaysia, Thailand and the Maldives. Asia SkylineMr Vrit Yongsakul, Group Chief Executive Officer at Boat Lagoon Yachting, described the last 24 months as one of “the strongest couple of years” the company has seen. Boat Lagoon Yachting shared that the best-selling yachts in the last 24 months have been larger yachts, “with 30 of the new yachts sold being 70 feet, and larger.” Mr Yongsakul described the growing trend, saying “Having sold more than 90 new boats in this size range in recent years, we are fortunate to have a family of owners who are ready to move to larger yachts. At the same time, the amazing new designs in the range are helping to attract an increasing number of new boaters into this exciting activity.”
Vrit YongsakulPhoto: Boat Lagoon Yachting
Boat Lagoon Yachting’s Group Chief Executive Officer attributed the surge in sales largely to the company’s “base of loyal customers upgrading to bigger boats, and their referrals of friends who seek the service assurance of a long-standing local dealership. About half of these new yacht sales were to existing clients.”Splash yacht in Florida “A number of years ago, Boat Lagoon Yachting sold the first 80-foot Princess Y75 yacht in the world – hull number one – and since then this segment has continued to be the most successful in the region for Boat Lagoon Yachting. Among the yachts we have sold in this size segment are six units of the latest Princess Y85 series. And, in this year alone, we have also sold three of Princess Yachts’ flagship 95-foot yachts, including two X95 yachts and a Y95 yacht, with the latter, again, the first sold in the world – hull number one,” Mr Yongsakul said. 

In the regions challenging market - Singapore and Thailand being particularly demanding - strong business-client relationships and trust are at the core of these successes. Mr Yongsakul explains “These are countries where word-of-mouth and long-term relationships are the keys to success, and this has helped Boat Lagoon Yachting secure a greater than 75% market share of new yachts sold that are in the range of 55ft to 100ft and manufactured by a global brand.”

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