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Home Buying Guide

Residential and Other Constructions

Residential and Other Constructions in Guam

 

Three hundred million dollars will be the planned total real estate market in Guam. Even though the overall sales decreased last year, the market is foreseen to increase rapidly due to construction buildup. Residential units that comprise single-family households were about two hundred thousand dollars in the year 2009.

 

There are some limitations though on foreign property ownership. The citizen in guam beachfront residences are Americans since Guam is a U.S. territory therefore people who are no green card holders can only purchase a single condo unit or a house by their own names and have to be inhabited by them.

 

There is a relocation of eight thousand US marine soldiers and their families from Okinawa, Japan to Guam through the arrangement of Japan and the U.S. to perform a construction buildup. Because of this, mega infrastructure and construction employments in Guam are being foreseen since the population is predicted to increase by twenty per cent. With this, more housing demand will be expected and other types of infrastructures such as hospitals, roads, bridges, shopping centers, and other places. Some approaches that housing demands are affected by military presence are:

 

1. There are military personnel that live off base

2. Some military dependents either have to live off base, or want to

3. More housing is required for construction labors

4. More housing will be desirable for civilian labors

5. The construction and military buildup will give greater economic forecasts to the island

 

Some of the construction buildup that is set to occur in Guam is:

Guam rentals provides renters inhabit a number of rental opportunities making it almost half of the housing available. The main areas that are populated by renters are located in northern part and central part of Guam. Some proposed construction investments to be constructed in Guam are:

 

1. Additional living stations

2. Stations for labors

3. More medical facilities

4. Larger waste water treatment factory

5. Latest bridges and roadways

6. More educational facilities and places for education

 

Huge opportunities for the workers and employees of the construction industry will be available. Most of the construction work does not need security certificates, and the normal citizens can do most. The whole infrastructures of Guam will be needed to reconstruct and new expansion will be done for naval bases, marine corps, coast guards, and army facilities. As buildup comes underway, those involved in commercial construction, distribution companies, manufacturing, and construction workers will have an easy picking.  Check out http://money.cnn.com/real_estate/continued.html for more details about real estate.

 

Some of the jobs available in Guam are:

 

1. Engineers

2. Security people

3. Secretarial, administrative, and clerical staff

4. Machinists of heavy construction equipment and crane operators

5. Medical practitioners like nurses and doctors

6. Compliance, health and safety personnel

7. Communication and IT specialists

 

With this construction development, people involved in the buying and selling of homes can benefit.