Guam’s total real estate market is projected to reach $300 million. Total sales were down last year, but with the construction buildup, the market will grow dramatically. In 2009, single-family homes cost around $200,000.

However, there are certain restrictions on foreign ownership. The people of Guam are United States citizens and Guam is a United States territory. Non-residents who have not applied for a green card can only buy a condo or house in their name and it must be owner-occupied.

The construction buildup is an agreement between Japan and the US to relocate some 8,000 US Marines and their dependents from Okinawa to Guam. This will create tremendous infrastructure and construction opportunities in Guam as the population is expected to grow by 20%. This will mean that more housing will be needed, as well as other structures, such as hospitals, roads, bridges, shopping malls, and other places. Some of the ways in which the real estate market is affected by the military presence are:

1. There are military personnel who live off base

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

3. More housing is needed for construction workers

4. More housing will be needed for civilian workers

5. Construction and military reinforcement will give greater economic prospects to the island

Guam has a large rental market, with about half of the homes being renter-occupied. Guam is not subject to seasonal restrictions like other tourist destinations, so the number of available rentals is available throughout the year. Most of the rental places are located in the north of Guam and the central area.

Part of the construction backlog that will occur on Guam is:

1. More homes

2. Barracks for workers

3. More hospitals

4. Largest Wastewater Treatment Plant

5. New bridges and roads

6. More schools and places for education

Those who work in construction will have great opportunities available to them. Most construction work will not require security clearance and most can be done by civilians. Guam’s entire infrastructure will need to be rebuilt and further expansions will take place at naval bases, Marine Corps, Coast Guard and Army facilities. Those involved in commercial construction, distribution companies, manufacturing, or construction workers will have easy prey as the buildup progresses.

Some of the jobs available in Guam are:

1. Engineers

2.Safety people

3. Secretarial, administrative and office staff

4. Heavy Construction Equipment Operators and Crane Operators

5. Doctors like nurses and doctors.

6. Compliance, Health and Safety Personnel

7. Communication and IT specialists

People involved in buying and selling real estate can benefit from construction.