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. 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.
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. 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 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. The combination of its natural aesthetics and modern lifestyle warranted its reputation as the place to visit and to stay for life. Since the island is an American territory, it guarantees all-American benefits, luring many investors to see the lucrative potentials of owning investment Guam properties.
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. 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. 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.
As for commercial investment Guam properties, prices vary by location. For example, a simple commercial structure in Hagat±a is priced at $61 per square feet. A similar property in Tumon on the other hand may be valued 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 provides perks ranging from comprehensive incentive programs for businesses, a good income tax structure as well as modern 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. Basically, Guam combines comfort, culture, style and international business standards that no other location could provide.
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.
-
No comments:
Post a Comment