Purchasing properties abroad has never been 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 developments are all the evidences of the booming real estate market.
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. In addition, the continuous profusion in military population requires construction programs that is expected to exceed billions of dollars of expenditures and would require significant additional laborers, which in turn would require more 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 contemplated as a melting pot of races, blending 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 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. The prices of residential real estate properties begins at $120,000 and increases up to $370,000 for luxury condominiums in Tumon, which is the island's major economic hub. 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.
When it comes to commercial investment Guam properties prices are also dependent on the location of the properties. A commercial building situated in Hagat±a is valued at about $61 per square feet. A similar property in Tumon on the other hand may be valued at $158 per square feet. If you would compare these prices from other overseas properties, Guam properties are more affordable, which is why the island is a more preferable location to own real estate properties.
If you would like to buy overseas for some properties, Guam could be the most preferable location where you could own competitively priced properties and the place that could give you several other benefits. 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 provide differing modern conveniences, a strong US- based educational system, cosmopolitan shopping and entertainment options, and the culmination of comfortable island living. Generally, Guam integrates high-end comfort, culture, luxury and international business without actually breaking your budget outlay.
Whether you are searching for a residential rental property or a second vacation home that you could buy overseas, Guam is the right location to place your real estate properties. Guam is now considered as one of the major real estate hubs due to the military relocation that is expected to boost the island's economy. Investment Guam properties are now increasing in value and many investors are now looking forward to do their business in the island.
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