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Real Estate Market in Guam

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Because of the resumption of construction build up in Guam, the real estate market has started to grow dramatically. Presently, the construction build up is an agreement between Japan and the US to relocate an estimate 8,000 US marines and their dependents from Okinawa to Guam. This, therefore, translates to building infrastructure and construction opportunities in Guam with an increased population expected to grow by 20%. More housing units will be needed, as well as structures such as hospitals, roads, bridges, shopping centers and other establishments. The military presence alone can impact the housing market through these information: there are military personnel that live off base; some military dependents either have to live off base or want to stay in the base; more housing units needed for construction workers; more housing units needed for construction workers; and, most of all, the construction build up gives greater economic prospects to Guam. Read more great facts on ladera towers guam, click here. 

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There are, however, restrictions on foreign property ownership in Guam. People who are non-residents and don't have a green card, since Guam is a US territory and therefore is governed by US laws, can only buy one condo house in their own name and have to be occupied by the owner. The present set up of the real estate business in Guam is that the island has a big rental market such as about half the housing is occupied by renters. One thing that is positive about the rental market is that, Guam is not bound by seasonal restrictions, and, therefore, the number of rentals available is all year long. Most of these rental places are found in north Guam and the central area. Relevant information reports that the rental yield is up to 14%, wherein a 220 meter rental home could earn up to $3,000 per month and $700 per month for an 80 meter property. Rental income tax is very low and tenancy laws are lenient for landlords, which can mean profits can be easily earned quickly if you own a home for rental in Guam.  For more useful reference regarding keys guam, have a peek here. 

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Even if the US mainland is experiencing an economy slowdown and decline in mortgage pricing, Guam is encountering a strong real estate industry credited to the military relocation and construction build up, which in all is expected to bring an estimate of $15 billion of expenditures. Therefore, many real estate investors are seriously looking into Guam's expected growth. With these positive prospects, the real estate market in Guam will still profoundly increase for the succeeding years. This is a ripe time to own a property in Guam. With the island's accessibility, excellent culture, business opportunities and unprecedented growth, owning a property in Guam will be worth the investment. Please view this site https://www.sapling.com/4377/buy-home-sale  for further details. 

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