Guam

In 2009, Guam’s property market declined sharply, amid the global crisis. Demand from foreign investors fell especially sharply.

The median price of single-family homes declined 7% in 2009 from a year earlier, according to the Captain Real Estate Group. When adjusted for inflation, the median price dropped by about 9%. Similarly, the median price of condominium units fell by around 11% (-12% in real terms) over the same period.

Guam’s housing market is expected to recover by the second half of 2010, as the military buildup starts.

The planned military expansion in the island is the result of an agreement between the US and Japan to relocate around 8,000 US Marines and their dependants from Okinawa to Guam.

There are some restrictions on foreign property ownership. Guam is a territory of the US and its people have U.S.citizenship.  Non-U.S. citizens who have not declared their intent to become permanent residents (green card applicants) can only buy one house or condominium in their personal names, which must be owner-occupied.

For investment purposes, however, a foreigner can form a Guam corporation with at least one local shareholder/director. The corporation can then buy as much property as it wants.

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