Living by boat to combat high living costs. It is boom

living on a boat
Living by boat. More and more are doing this to combat price increases

More than a trend, it is a real boom to live on a boat instead of at home. Funding for buying a boat as a home grew by 65 percent between 2019 and the end of 2021 in Britain.

Living by boat – A recipe against the cost of living.

This is evidenced by a survey by the leading company in financing of this type, the UK-based Promarine Finance, which explained the phenomenon thus, “”The increase in demand for boat financing and particularly for ‘liveaboard’ boats shows no signs of slowing down since the start of the pandemic.

There was a shift from those who bought during the pandemic to those who made this choice because of the cost of living and the housing crisis, and the survey results show that these data are very clear. Buyers are pressured to consider alternative and more affordable housing solutions rather than remain in their current situation of paying rising rents and utilities.”

A prescription against the rising costs of living and utilities that is affecting the world. This is also the cause of the exponential increase in the purchase of a boat to live in permanently.

Living on a boat – For young people leaving home is the solution

And it is not only about a change of life for those who decide to allocate the boat as a home. Thirty percent of applications for “boat/home” financing are from young people at their first experience of living outside the parental home. The facilitation comes from the fact that the boat itself is the collateral for obtaining the “maritime loan.”

The duration of financing for the purchase of a recreational boat ranges from two to 10 years on average.

Living by boat – Greece and Portugal the top destinations

But in addition to being an antidote to the high cost of living, living on a boat is also an opportunity to go and live in a nation that offers tax advantages. We told you about it in this article on living aboard: and it mainly concerns those who want to reduce their retirement taxation at the end of their careers.

living by boat - greece
Greece is one of the most popular destinations for living by boat

Greece is perhaps the nation that offers the most advantages today. Thanks to the July 31, 2020 approval of Law 4714/2020, Italian private pensioners can move to Greece for tax purposes and benefit from a 7% tax break for 15 years. A retiree interested in obtaining this benefit must transfer his or her tax residence to Greece and spend at least 183 days there in the calendar year.

Portugal is also a bestseller. In Portugal, taxation is at 10 percent for 10 years as a “Non-Habitual Resident” for those who-in Portugal and Madeira-are actually resident both in terms of registry and also for tax purposes, as specified by Law no. 249/2009. In addition, the cost of living is 25 percent lower than in Italy.


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