Purchasing properties abroad has never been easier. 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 developments are all the evidences of the booming real estate market.
While Italy, Spain, Canada, France and Europe are among the most usual destinations for investors longing to own overseas properties, new real estate markets are expanding in Guam, where potential buyers are afforded incredible value homes and other real estate properties. The increased attention toward investment Guam properties are fueled by the 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 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 regarded as the quintessential melting pot that blends the flavor 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.
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. 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 instance, a commercial building in Hagat±a could cost 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.
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. Overall, Guam brings in together a solid combination of culture, style, international business and comfortable living at a very lenient real estate cost.
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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