Who doesn’t want to make their dream house in a peaceful corner of the world? I guess there is no such name that strikes my mind thinking about this question.
Well, Guam is one such place that is blessed with peace, natural beauty, warm people and splendid culture. The exceptionally beautiful scenes and extraordinary wonderful arts, festivals have attracted people towards this city.
What attracts people?
Today, there are many people who make plans to visit to this awesome place in holidays or during festive seasons. Although the short span of stay does not make them happy and willing to go back but they leave the place with a promise to come back again.
However, it has seen in recent years that people have booked their accommodation for the holidays in advance. In fact, many regular visitors plan to buy perfect property for them in the lap of this beautiful city.
Facts about Real Estate Business in Guam
In any case, this scenario of buying and selling of properties have brought Guam real estate people into the role. It has been estimated that complete Guam’s real estate market is about to cross the limits of $300 million. However, overall sales have went down by a great margin though the market is seen growing dramatically. You can take an average idea from the quotation of a basic home that costs $200,000.
The standards show that Guam people hold citizenship of US as Guam is a territory of US. So it has some issues related to foreign property ownership. The non-residents are allowed to purchase only one Guam home with their own name and it is essential for them to occupy it.
For relocating 8,000 US marines, the agreement of construction build-up is set between US and Japan. This kind of forthcoming construction agreement can bring ample construction opportunities in the city as the population has also increased by 20%. It means more housing is needed by the people including other structures like shopping centers, hospitals, bridges, roads, etc.
Because of the Guam real estate and increasing Guam lovers, more than half of the housing is engaged by renters. The central and northern part of Guam is completely filled with people who take houses on rent.
The increasing construction and infrastructure development in the Guam has made it a most remarkable place in terms of development. In the forthcoming years this city is targeted to be the hub of entertainment for people and most worthwhile place to dwell in!