American Samoa Real Estate is quite a beautiful place to stay, though it isn’t easy to buy property here as compared with the rest of the international real estate. The prices here are stable and are on the rise again as recession in the US is on a downward trend.
The US has political sovereignty over the American Samoa. This island is located even further off than the Hawaii islands and still attracts a lot of rich and the famous. However there are restrictions on the American Samoa real estate as most of the property is regarded as communal land. Only about 10% of the American Samoa real estate for sale is available and can be bought or sold. The law for the American Samoa real estate prohibits the transfer of ownership unless a person is at least half American Samoa. Those interested in the American Samoa real estate listings can lease the communal land that is available; however the lease period is for 55 years only.
This is the reason that the American Samoa real estate doesn’t change ownership as frequently as the rest of the international real estate market. American Samoa is a chain of islands and the main island is known as Tutuila, which is also where most of the people live. The capital is known as Pago Pago. 90% of the land in American Samoa is communally owned by several clans or various families. The real state in American Samoa is traditionally regarded as asset by these clans and is passed down from one generation to another generation.
Most of the real estate in American Samoa available for purchase is near the capital city Pago Pago. New construction for the American Samoa real estate is quite few and there are plenty of old houses that are available for sale and purchase. Though American Samoa is far away from the US mainland, residents can enjoy all facilities that are available to the citizens on the mainland and this includes postal services, telecommunications, US banks, restaurants and shopping. Even McDonalds and Pizza Hut deliveries are possible.
Currently the price for waterfront properties in Pago Pago costs about $400,000 for a 1600 square meter lot. The prices for American Samoa real estate for sale are negotiable. There are very few rental properties that are currently available and the data for American Samoa rentals isn’t available currently.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in American Samoa real estate for sale, American Samoa real estate exchanges, and American Samoa rentals. American Samoa real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.