Buying properties overseas is now made 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. For these reasons, the concept of having a second home now include locations overseas. These can all be seen from the immediate boom in the industry of real estate.
Although Italy, Spain, Canada, France and Europe are among the hottest destinations to own investment properties, real estate markets are now expanding in Guam, where potential buyers could purchase incredibly priced residential and commercial 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 the island is a known US territory, it enjoy a US dollar economy, which in turn entices many investors to realize the full financial potentials of purchasing investment Guam properties.
The strategic location of Guam plays an integral role for its unwavering appeal among families and businesses. In fact, the well-developed commercial and residential sites of the island has consistently appealed to homeowners and businesses wishing to own properties abroad. 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. Its residential rental property on the other hand yields monthly rents of $1,200 for town houses within small villages, and can be as high us $4,500 in Tumon.
For commercial investment Guam properties, prices also depends on the location. 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.
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 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 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.
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.
No comments:
Post a Comment