According to a prominent Guam real estate company which releases reports on the state of Guam’s real estate industry total sales for 2009 declined by almost 50% when compared to 2008 real estate sales and by 63% from 2007. The reason for the decline in the real estate industry is that foreign investment in Guam’s real estate industry has dried-up. Foreign investors aren’t to interested in making investments in real estate on the island as they were two years ago when the military buildup started getting attention. Another contributing factor to the lack of foreign investment could be the downturn in the world economy over the last few years. Because of this it could be a great opportunity for first-time home buyers to invest in a new home while the market still favors the buyer. Once the military buildup gets going home prices will more than likely start to increase again.
Topics: guam home prices, guam real estate industry, guam real estate market, guam real estate news, guam real estate sales