Purchasing properties abroad is not out of reach anymore. 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. For these reasons, the concept of having a second home now include locations overseas. 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. Investment Guam properties are now prevailing due to the relocation plans for the 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. Because of these, the real estate in Guam is now poised to expand its reach for the upcoming 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 considered as a melting pot of diverse flavors, mixing together the influences 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.
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. 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. 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.
When it comes to commercial investment Guam properties prices are also dependent on the location of the properties. For instance, a commercial building in Hagat±a could cost 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.
Whether you are looking for commercial or residential properties to buy overseas, 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 incentive program, plausible incomes tax structures and highly modernized infrastructures. As for families, the island holds several modern conveniences, educational system that mirrors that of the US, cosmopolitan shopping and entertainment options, and of course the peace and sincerity of the island life. Generally, Guam integrates high-end comfort, culture, luxury and international business without actually breaking your budget outlay.
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.
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