Purchasing properties abroad has never been easier. 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.
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. 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. Hence, Guam real estate market is expected to grow over the next 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. 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. 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 on the other hand could cost $158 per square feet if it is located in Tumon. 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.
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 incentive program, plausible incomes tax structures and highly modernized 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. Basically, Guam combines comfort, culture, style and international business standards that no other location could provide.
Having an investment abroad is probably one of the best means to secure one's future. Hence, if you would like to buy overseas for a residential rental property, you may want to try looking at Guam. Currently, investment Guam properties are now being sold fast due to the financial potentials they present. The booming tourism industry and expected relocation of military personnel from Okinawa are the primary catalysts for the booming real estate market in Guam.
No comments:
Post a Comment