The cost of owning and maintaining a yacht in Egypt can be quite high, which makes it a luxury that is only accessible to a small percentage of the population. If you desire to become a yacht owner in Egypt, here's a breakdown of the costs of owning and buying one in 2023.
The initial cost of purchasing a new yacht in Egypt ranges from EGP 500,000 ($31,900) to EGP 100,000,000+ ($6,380,000). There are also ongoing costs such as insurance ($1,000-$500,000), mooring and dockage ($2,000-$200,000), maintenance costs ($5,000-$10M), fuel costs ($2,000-$500,000), and crew costs ($500,000- $2M).
There are three main types of yachts available in Egypt: sailing yachts, motor yachts, and super yachts. Below, you'll see how each one differs in terms of initial costs and ongoing costs, so you can choose which one suits your needs best.
- A day boat sailing yacht costs around EGP 500,000 ($31,900), while a sailing yacht ocean-going cruiser costs around EGP 2,500,000 ($159,500).
- A dayboat motor yacht costs around EGP 1,000,000 ($63,800), while a luxury cruiser motor yacht costs around EGP 10,000,000 ($638,000).
- Superyachts are the most expensive type of yacht, with prices ranging from EGP 100,000,000 ($6,380,000) to EGP 70,000,000 ($4,466,000) for a used one.
- If you own a 50-foot yacht worth $500,000, your insurance premiums could range from approximately $5,000 to $10,000 per year.
- For medium yachts (30-50 ft) with inboard engines used frequently, the estimated fuel cost is between $500 and $1,000 per month.
Cost Of Buying A Yacht In Egypt
Below is a table showing the different types of yachts that you can buy in Egypt as well as their current estimated price in the market:
|Type of Yacht||Size||Estimated Initial Price (New)||Estimated Initial Price (Used)|
|Sailing yacht (day boat)||20-30 feet||EGP 500,000 ($31,900)||EGP 350,000 ($22,330)|
|Sailing Yacht (ocean-going cruiser)||40-60 feet||EGP 2,500,000 ($159,500)||EGP 1,750,000 ($111,650)|
|Motor yacht (day boat)||20-30 feet||EGP 1,000,000 ($63,800)||EGP 700,000 ($44,660)|
|Motor yacht (luxury cruiser)||40-60 feet||EGP 10,000,000 ($638,000)||EGP 7,000,000 ($446,600)|
|Superyacht||100+ feet||EGP 100,000,000+ ($6,380,000)||EGP 70,000,000+ ($4,466,000)|
Cost of purchasing a sailing yacht in Egypt
Sailing yachts, also known as sailboats, are powered by the wind and are a popular choice for those who enjoy a more traditional sailing experience. Sailing yachts are often more affordable than motor yachts or superyachts, and they offer a slower pace of life on the water.
Need a more in-depth breakdown of the cost when buying and owning a sailboat? Here's an article for you.
A day boat sailing yacht is a small sailing yacht that is typically used for day trips or short excursions. It is usually between 20-30 feet in length and can accommodate a small group of people. It is designed for ease of use and maneuverability and often features a simple cabin with basic amenities.
On the other hand, a sailing yacht ocean-going cruiser is a larger sailing yacht that is designed for longer trips and ocean crossings. It is typically between 40-60 feet in length and can accommodate a larger group of people.
It is designed for comfort and safety and often features a more spacious cabin with modern amenities such as air conditioning, heating, and entertainment systems. It may also have additional features such as a generator, watermaker, and radar.
Cost of purchasing a motor yacht in Egypt
As the name suggests, motor yachts are powered by engines and are a popular choice for those who want to travel quickly and comfortably on the water. They come in a range of sizes, from small day boats to large luxury cruisers.
Motor yachts are often considered an epitome of luxury because they offer more amenities and comforts, such as air conditioning, entertainment systems, and luxurious cabins and are more expensive than sailing yachts.
In addition to the initial purchase price, there are also ongoing costs associated with owning and maintaining a motor yacht, including mooring fees, insurance, fuel, maintenance, repairs, and upgrades.
The annual cost of owning and maintaining a motor yacht can range from 5-10% of the initial purchase price, depending on the size and complexity of the yacht. You might also want to consider the resale value of the motor yacht when making a purchase.
Motor yachts generally depreciate in value over time, but well-maintained and upgraded yachts can retain their value better than those that are neglected or outdated.
Cost of purchasing superyachts in Egypt
Superyachts typically range in length from 100 to over 300 feet, and the longer the yacht, the more expensive it will be. A 100-foot yacht may cost around $10 million, while a 300-foot yacht could cost upwards of $100 million.
Many superyachts are made from high-end materials such as carbon fiber, titanium, and exotic woods, which can drive up the cost significantly. Also, yachts with more cabins and luxurious amenities such as swimming pools, hot tubs, and helipads will be more expensive than those with fewer amenities.
Customizations such as unique interior design, specialized equipment, and personalized features can also add millions of dollars to the cost of a yacht.
Ever wonder how many superyachts are there in the world? Find out in this article.
Recurring Costs Of Owning A Yacht In Egypt
Once you've purchased a yacht, there are several ongoing costs to keep in mind as summarized in this table:
|Yacht Type||Annual Maintenance cost||Mooring/Storage Cost||Insurance Cost||Fuel Expenses||Crew Salaries|
|Sailing yacht||$5,000 - $15,000||$2,000 - $5,000||$1,000 - $5,000||$2,000 - $5,000||$10,000 - $30,000|
|Motor yacht||$10,000 - $50,000||$5,000 - $10,000||$5,000 - $20,000||$5,000 - $20,000||$50,000 - $150,000|
|Superyacht||$500,000 - $10,000,000||$50,000 - $200,000||$100,000 - $500,000||$50,000 - $500,000||$500,000 - $2,000,000|
Maintenance cost is a significant expense in owning a yacht
Regular maintenance ensures that your yacht is in top condition and safe to operate. Some common maintenance costs for yachts in Egypt may include regular cleaning and detailing, engine and mechanical repairs, hull and deck repairs, electrical and plumbing repairs, and regular maintenance of the sails and rigging.
Here are some factors that can affect the maintenance costs:
Size of the yacht: The larger the yacht, the higher the maintenance costs will be. Superyachts, in particular, can require a significant amount of maintenance due to their size and complexity.
Age: Older yachts may require more maintenance and repairs than newer models.
Material: Yachts made of wood, for example, may require more upkeep than those made of fiberglass or aluminum.
Usage: How often the yacht is used can also affect maintenance costs. A yacht that is used frequently will require more maintenance than one that is only used occasionally.
Here are a few examples of the average maintenance costs of sailboats.
Yacht insurance is another significant expense
Yacht insurance premiums can vary depending on the value of your yacht, the type of coverage you need, and your boating experience.
Let's say you own a 50-foot yacht worth $500,000 and you're looking for comprehensive insurance coverage that includes liability, hull, and personal injury coverage. Your boating experience is limited, with only a few years of experience and no formal training.
In this case, your insurance premiums could range from approximately $5,000 to $10,000 per year, depending on the insurance company and the specific coverage options you select. If you have a good safety record and have completed a boating safety course, you may be able to secure lower premiums.
On the other hand, if you own a larger yacht worth several million dollars and require additional coverage options, such as pollution liability coverage or crew coverage, your insurance premiums could easily exceed $20,000 per year or more.
Having a full-time crew will add to your operating expenses
Crew costs can include salaries, benefits, and training expenses. A larger yacht may require a larger crew to ensure that all tasks are performed efficiently and safely.
Similarly, if you plan to engage in activities such as fishing or diving, you may need to hire crew members with specialized skills and experience. Find out in this article what size yacht will require a crew and how many members you will need.
Mooring and dockage fees are another expense to consider
Mooring fees can vary depending on the location, and the size of your yacht. Dockage fees are charged when you dock your yacht at a marina or other port. The table below shows estimated docking and mooring fees for different locations in Egypt:
|Marina or Port in Egypt||Location||Estimated Docking Fees||Estimated Mooring Fees|
|Abu Tig Marina||El Gouna||EGP 2,000 - EGP 4,000/night||EGP 1,000 - EGP 2,000/week|
|Hurghada Marina||Hurghada||EGP 1,500 - EGP 3,000/night||EGP 1,000 - EGP 2,000/week|
|Port Ghalib Marina||Marsa Alam||EGP 2,000 - EGP 4,000/night||EGP 1,500 - EGP 3,000/week|
|Alexandria International Marina||Alexandria||EGP 1,500 - EGP 3,000/night||EGP 1,000 - EGP 2,000/week|
|El Sokhna Marina||Ain Sokhna||EGP 2,000 - EGP 4,000/night||EGP 1,500 - EGP 3,000/week|
Fuel costs are another significant expense when owning a yacht
Fuel burn can be high, especially if you use your yacht frequently or for long distances. The following table shows the estimated fuel costs depending on the size of your yacht, the type of engine, and usage:
|Yacht Size||Engine Type||Usage||Estimated Fuel Cost|
|Small (20-30 ft)||outboard||occasional||$50-$100 per trip|
|Small (20-30 ft)||inboard||frequent||$200-$300 per month|
|Medium (30-50 ft)||inboard||occasional||$200-$400 per trip|
|Medium (30-50 ft)||inboard||frequent||$500-$1000 per month|
|Large (50+ ft)||inboard||occasional||$500-$1000 per trip|
|Large (50+ ft)||inboard||frequent||$2000-$5000 per month|
For small yachts (20-30 ft), the estimated fuel cost for an outboard engine and occasional usage is between $50-$100 per trip. For inboard engines and frequent usage, the estimated fuel cost is between $200-$300 per month.
For medium yachts (30-50 ft), the estimated fuel cost for inboard engines with occasional usage is between $200-$400 per trip. If used frequently, the estimated fuel cost is between $500-$1000 per month.
For large yachts (50+ ft), the estimated fuel cost for inboard engines and occasional usage is between $500-$1000 per trip. For frequent usage, the estimated fuel cost is between $2000-$5000 per month.
If you're curious about what types of fuel yachts use, you might find this article helpful.
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