subject: Taking Advantage Of Guam's Booming Real Estate Industry [print this page] Buying properties overseas is now made easierBuying properties overseas is now made easier. With the profound attention given towards investment properties, lower airfare made traveling much accessible and the possibility to buy overseas for properties is now possible for many homeowners. Due to these, the idea of having a second home now includes overseas locations for most homeowners. These can all be seen from the immediate boom in the industry of real estate.
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. 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. Hence, Guam real estate market is expected to grow over the next years.
Another catalyst for the rise of the island's real estate market is its visitor industry which is said to bring in 1.2 million visitors annually, generating about $1.35 billion in revenues. Guam is contemplated as a melting pot of races, blending the influences of American, Chamorro, Spanish, Micronesia and Asian cultures. Its powerful combination of natural beauty and modern conveniences, as seen from its well lined beaches and contemporary infrastructures, appealed to people as the place not only for vacation but the destination 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.
Due to its geographic location which is within the reach of nearby Asian countries as well as the US, it has become one of the most ideal locations for families and businesses. As a matter of fact, the highly structured commercial and residential real estate market of Guam has persuaded many homeowners and businesses to own properties in the island. Price range of residential real estate properties could start from $120,000 and rises to $370,000 for high-end condominiums located in Tumon, which is the island's major tourist center. 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.
As for commercial investment Guam properties, prices vary by location. For instance, a commercial building in Hagata could cost 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 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. Generally, Guam integrates high-end comfort, culture, luxury and international business without actually breaking your budget outlay.
