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Guam: Price History

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Base expansion boosts house market

Guam’s appeal to Japan tourists is its proximity, and ‘American flavor’. But when the recession hit Japan, Japanese tourists could not afford vacations and overseas trips, and reduced tourist arrivals in Guam. The events that followed (Asian Currency Crisis, 9/11, SARS outbreak) then stalled Guam’s economic growth, pushing property prices down.

Housing rebound

But the economy and the housing market have now rebounded. The impending transfer of about 7,000 US Marines and an additional 10,000 dependents from the US base in Okinawa Japan to Guam will mean US$8 to US$10 billion in spending on infrastructure, housing and mission support facilities. The tremendous impact on the economy cannot be underestimated as 60% of Guam's current income can be attributed directly and indirectly to the military base.

House prices are now rising and new construction starts are surging. The median price for a house is $155,500, up by 35.22% from $144,995 in 2003.

The resurgence of tourism is also boosting the real estate market. Tourist arrivals from almost every region increased in 2005. The number of visitors from Japan, the biggest group, is expected to reach 1.3 million, up by 12%. The number Korean tourists, who make up the second biggest tourist group, increased by 22% in 2005 to 105,449 visitors.

Guam - more data and information

• Guamanian house prices, rents, and letting income - real data!
• How expensive are houses in Guam, compared to the rest of Pacific?
• How much rent can be earned from Guamanian property, compared to the rest of Pacific?

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