A Positive Trend for Guam Reality Sector!

Guam is a beautiful island territory and a part of US. It is located in Micronesia in the Western Pacific. It consists of 19 villages known by both their indigenous Chamois and Spanish English spellings. Guam is a strategically and economically important place between Asia and the North American continent.  A US passport serves as entry requirement in Guam.

Guam economy depends mainly on US military spending and tourist revenue. The travelers from US and other countries under visa waiver program may stay in Guam without visas up to 45 days. A US citizen can move to Guam as they can to any property in the US. Life in Guam is quite, relaxed and pleasant. It is surrounded by the Pacific Ocean and is never cold or close to freezing.

Residential real estate sector sales volume has steadily grown at an average rate of 12% since 2013. Guam Realtors have noticed substantial average annual growth of 22% in condominium sales volume. The growth is inclusive of condominium sales volume of 10% on single family dwelling.  There was phenomenal growth pushed by growing demand and lack of inventory or additional supply. According to Guam Business Magazine upward pressure on price, limited supply, limited labor, skyrocketing construction cost and the looming housing affordability crisis are vital issues.

Though Guam is made of villages, it has McDonald’s, Kmart and huge home depot. The travelers love beautiful beaches and great shopping. Moving to Guam has become comfortable with lots of modern day amenities mixed with many island amenities. The people staying here enjoy a right balance of work, play and eat.

Escalating tourist arrivals, increased visitor expenditures and a rebound in construction drive the expansion of Guam economy. According to Guam Realtors, high investment in building permits and Department of Defense construction contracts, sizable backlog of bond-funded projects in the public and military sectors and relaxed conditions for foreign worker import will support the construction activity. In the civilian commercial area, many hotel projects, mall and luxury condominium projects are coming up.

Guam has become the center of education, commerce, military and tourism in the area. It offers many world-class brand names in malls like DFS Galleria, Micronesia, Guam Premium Outlet and others. Guam realtors are optimistic about the real estate markets and have listed various new housing and commercial properties with novel features on rent and sale on their sites.  

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Created on Feb 25th 2020 00:57. Viewed 394 times.

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