Welcome to America in Asia
Situated in the Western Pacific, within close proximity to the Asia Pacific Rim including Japan, South Korea, China, Taiwan, Hong Kong, Singapore and the Philippines, Guam U.S.A. truly is America in Asia.
Guam is a U.S. Territory and closest U.S. soil to the Asia Pacific region. The biggest island in Micronesia with an area similar in size to Singapore, roughly 210 square miles, Guam is the southernmost island of the Marianas Island Chain, located east of Manila and almost due south of Tokyo, both a short 3.5-hour flight away. Its population is currently estimated to be around 171,000.
While its stable U.S. political status, government, economy, and currency in U.S. Dollars certainly makes the island a distinct attraction in the Asia Pacific region, it’s the lush tropical landscapes, warm breezes, white sandy beaches, clear waters and blue skies that eventually lure people and companies from all over the region and U.S. Mainland to invest in Guam real estate and make Guam home. Land holdings allow for both fee simple and leasehold ownership and Guam laws welcome foreign investment.
Japan has been the predominant visitor market and source of foreign investment in the hotel, tour and visitor transportation industries for almost the last four decades, however tourists and foreign investment from South Korea, Hong Kong and Taiwan have been factors from time to time as well, even more so recently from South Korea, Australia, Hawaii and the U.S. mainland.
While tourism is Guam’s number one industry with well over one million visitors every year and growing; due to its geographic location, Guam has also played a major role in U.S. military support. The island is home to a large Navy Base and port harbor, a Naval Communications Base, an Air Force Base and numerous other U.S. military support units, reserves and national guard units. In our Guam links section, you will see useful links to the local military community and you can find the Guam Visitors Bureau under Government of Guam.
More significantly, it was recently announced in 2006 that the role of Guam in the U.S. military defense strategy for the Asia Pacific region would change dramatically. This impending military buildup would undoubtedly be an excellent compliment to the growing tourism industry. The new military strategy entails the relocation of the 3rd Marine Expeditionary Force from Okinawa, Japan to Guam. This includes 8,000 Marines, around 9,000 to 10,000 family members and dependents, and private contractors, support personnel and families estimated at up to 25,000. According to the U.S. Navy Pacific Fleet Commander in a local newspaper article in mid 2007, this military buildup involves the construction of a new base for the Marines and their families; construction of waterfront facilities with a nuclear carrier capable berth at the Navy base and a U.S. Army Ballistic Missile Defense Task Force, consisting of about 630 service members and an additional 950 family members. Both Navy and Air Force bases are reportedly earmarked for major expansion, possibly doubling in size. The U.S. military is committed to almost $15 billion in construction and related infrastructure investment and this almost ensures Guam will experience major economic and population growth over the next few years.
This military expansion together with our staple growing tourist industry and continued influx of foreign investment has Guam real estate on the rise and poised for sustained long-term growth. The confidence and optimism of the market today has many new projects either proposed or currently under construction, with some already successfully completed and sold. According to local industry analysts, in the first quarter of 2007, the median price of a single-family dwelling on Guam was around $195,500, or about one-third the price on Oahu, Hawaii. For condominium units, in the first quarter of 2006, the median price was about $134,500. Analysts predict up to 10,000 new or refurbished housing units over the next few years and as new higher priced better quality housing units are built and sold, these median prices will certainly increase. Along with the residential sector, it is anticipated that the commercial, industrial, apartment and hotel sectors will benefit from the trickle down effect of a strong economy, as we are starting to see signs of this now.
All in all, these are very exciting times in Guam real estate. Future growth and stability are in the forecast, so savvy real estate investors large and small, both companies and individuals alike should give Guam some serious consideration.
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