THE cost of renting Ibiza yachts has plummeted in recent months, according to nautical officials.

Last year, 50% of registered boats on the island’s Captiania Maritima were for hire, according to Ibiza Nautical Association’s president Ramon Diaz.

PRICE DROP: Ibiza yacht rental costs fall

And with the price of renting a 5-6 metre-long boat dropping from 700 euros a day to around 250, Diaz has demanded action.

“Because of the large number of boats, prices are dropping massively,” he said.

Diaz has called for additional mooring space to accommodate boats which have been bought.

The cost of mooring a 12-metre yacht in Ibiza is around €30,000 a year, he added, with the same-sized boat on the mainland costing just €2,000.

“We are the only island in the Balearics without a specific site for these boats,” he added.

“In summer, boats from outside Ibiza are moored in coves. There is interest in buying boats, but there is no mooring.”

Last month, the Balearic government announced it was halting an additional 2,000 mooring berths with fears over the environmental impact

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