Drop everything and get thee to Guam! Long considered a poor man’s Hawaii, the jewel of an island is fast-becoming the go-to destination to pick up a vacation property.
There are tons of reasons to love the 30-mile long U.S. territory: the primary one simply being that it’s beautiful. A couple from New Orleans who recently bought a three-bedroom condo there for less than $1 million, told the Wall Street Journal, “It’s like living in a cruise ship, we’re so close to the ocean. Every morning we sit on the balcony and have breakfast and sometimes we can see stingrays and dolphins.” And who wouldn’t want to live on a cruise ship?
Next, it’s remote location makes it the closest patch of U.S soil to Asian countries. That factor has drawn buyers and visitors from both east and west. The Journal also reports that the island has another more unusual amenity: Guam Regional Medical City, a new, private hospital that is bringing doctors and other medical professionals to the Hagåtña area (Guam’s commercial district and the seat of government).
Moreover, the U.S. is relocating military personal there from Japan in order to bolster defenses in the Western Pacific. “A lot of attention is on Guam because of the military buildup,” says Beverly Alerta Brady,a local real-estate agent. “That’s helping push the real-estate market.”
If those aren’t reason enough to buy up the island tomorrow, here’s the kicker: the median price for a single-family home on the island is about $210,000, And real estate experts say that property value is sky-rocketing. Annual sales of single-family homes priced at $500,000 or above increased over 52 percent in the last three years. Sales of homes over $1 million have also increased substantially, and are even topping the $1 million mark.
So don’t just sit there. Grab your sunscreen and your credit card before there’s nothing left.