Report: Guam real estate should rebound in 2010 - KUAM.com-KUAM News: On Air. Online. On Demand.

Report: Guam real estate should rebound in 2010

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by Michele Catahay

Guam - After peaking in 2007, Guam's real estate market suffered from sharp declines during 2008 and 2009. According to the Captain Real Estate Group, in 2008, the decline in overall sales activity reflected over 46% and contraction in 2009 reflected an additional 32% percent. Compared to the $687 million in sales activity during 2007, the 2009 annual figure of $251 million reflects a decline of 63%.

That figure was the lowest annual total since 2004. The group says it expects foreign investment to increase as Asia continues to recover and massive military buildup related contracts are awarded in 2010.

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