Purchasing properties abroad is not out of reach anymore. With the increased attention given toward investment properties, lower airfares have 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 can all be seen from the immediate boom in the industry of real estate.
While Italy, Spain, Canada, France and Europe are among the most usual destinations for investors longing to own overseas properties, new real estate markets are expanding in Guam, where potential buyers are afforded incredible value homes and other real estate properties. Investment Guam properties soared to great heights after the announcement of the intended relocation of Marine corps personnel and their families from Okinawa. To cap this off, the increased number of military population in the island demands for construction programs that is said to bring billions of dollars in expenditures and would require additional laborers, thereby increasing the need for accommodations. Due to these, Guam real estate market is poised to expand for the following years.
Another factor that contributes to the growing real estate market in Guam is its tourism industry which is noted to have 1.2 million visitors annually and is generating about $1.35 billion in revenues for the island. Guam is regarded as the quintessential melting pot that blends the flavor of American, Chamorro, Spanish, Micronesia and Asian cultures. Its natural beauty and modern conveniences provided it the reputation as a place that is not only to be visited but a place to stay for life. As this island enjoys an American dollar economy and the developments in many of its industries, many investors are seeing the value of investment Guam properties and turning them into lucrative financial businesses.
With its strategic location, Guam is an ideal destination both for 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. Meanwhile, a residential rental property could earn $1,200 a month for town houses situated in small villages and could go as high as $4,500 per month for residential spaces operating in Tumon.
For commercial investment Guam properties, prices also depends on the location. A commercial building situated in Hagat±a is valued at about $61 per square feet. A similar property in Tumon could value at $158 per square feet. However, if you would compare these prices to other overseas properties they are relatively competitive, which is why Guam is truly an ideal destination to own a home or a commercial property.
If you intend to buy overseas for some properties may it be for residential or commercial purposes, Guam could be the perfect location for you based from the opportunities it could provide. For businesses, Guam provides perks ranging from comprehensive incentive programs for businesses, a good income tax structure as well as 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.
-Alison Ward
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