Taking Advantage Of Guam’s Booming Real Estate Industry

Buying properties overseas is now made easier. With the increased attention given toward investment properties, lower airfares have

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made travel much accessible and more property ownership opportunities are provided among homeowners to cheaply buy overseas properties than in the domestic market. In this regard, many homeowners feel that having a second home abroad is an ideal concept that can be accomplished. These are all apparent from the booming industry of the real estate market.

Though Italy, Spain, Canada, France and Europe are among the most sought-after locations to purchase investment properties, new real estate markets are now emerging in Guam, where potential buyers could find competitively priced homes and other real estate properties. The increased attention toward investment Guam properties are fueled by the relocation of Marine Corps personnel and their families from Okinawa. Adding up to these, the growing military population in the island requires the implementation of construction programs that is set to exceed billions of dollars in expenditures, and would require significant number of laborers, which means more accommodations would be needed. Because of these, the real estate in Guam is now poised to expand its reach for the upcoming years.

Another driver for Guam”s real estate market is its tourism industry which has been gaining about 1.2 million visitors annually, generating approximately $1.35 billion in revenues. Guam is considered as a melting pot of diverse flavors, mixing together the influences of American, Chamorro, Spanish, Micronesia and Asian cultures. The combination of its natural aesthetics and modern lifestyle warranted its reputation as the place to visit and to stay for life. As the island is a known US territory, it enjoy a US dollar economy, which in turn entices many investors to realize the full financial potentials of purchasing investment Guam properties.

The strategic location of Guam plays an integral role for its unwavering appeal among families and businesses. Its well developed commercial and residential real estate market has since been enticing many investors and homeowners from around the globe to own properties in the island. Residential real estate prices starts from $120,000 and rises to $370,000 for luxury condominiums situated in the island”s center and economic hub, Tumon. On the other hand, a residential rental property in the area could monthly rents of $1,200 for town houses in nearby small villages, and could increase up to $4,500 if the property is located in Tumon.

As for commercial investment Guam properties, prices vary by location. For example, a simple commercial structure in Hagat±a is priced at $61 per square feet. A similar property in Tumon could value at $158 per square feet. Basically, the prices of properties in Guam are comparably competitive than other overseas properties, which is why it is a suitable location for families who wish to have a second home abroad, and for businesses that wish to expand their financial reach.

Whether you are looking for commercial or residential properties to , Guam might be the location that could offer you the best real estate prices and a whole range of other benefits. For businesses, Guam offers a comprehensive program of incentives for those investors who wish to operate in the island, attractive income tax structure, and modern infrastructures. For families on the other hand, the island could offer incomparable modern conveniences, high-standard educational system, cosmopolitan shopping centers and entertainment facets, and almost all comfortable means to enjoy island living. Basically, Guam combines comfort, culture, style and international business standards that no other location could provide.

If you would like to buy overseas for some properties, Guam might be the location you are looking for. Investment Guam properties, especially their residential rental property, are now becoming hot commodities due to their business potentials. Guam has developed into a major destination for tourists and investors since the announcement of the relocation of military personnel from Okinawa. Hence, the real estate market in Guam is now in full swing and is expected to expand for the following years.