Purchasing properties abroad is not out of reach anymore. 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. Due to these, the idea of having a second home now includes overseas locations for most homeowners. These are all apparent from the booming industry of the real estate market.
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. 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. 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.
The strategic location of Guam plays an integral role for its unwavering appeal among 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. Residential real estate prices starts from $120,000 and rises to $370,000 for luxury condominiums situated in the island's center and economic hub, Tumon. 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.
As for commercial investment Guam properties, prices vary by location. A commercial building situated in Hagat±a is valued at 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.
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 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.
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.
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