Property for sale in Saipan

The Northern Marianas have suffered the loss of airline flights to Japan, a collapsed economy, a weak government and allegations of international money laundering. Get more information on property for sale in Mariana Islands.

Views on the Saipan real estate :

Result: Real estate is so thoroughly deflated that Saipan is probably the cheapest property market under the U.S. flag. In 2007, land and built-out property for sale was selling at about 10 cents on the dollar. The 310-room Nikko Hotel, once one of the major resorts on the island, was sold recently for $3 million.

You can't actually buy property for sale in the Northern Marianas. Instead, you lease it, sometimes for as long as 55 years. According to the island's constitution, only descendents of native Mariana Islands peoples can own land. This law may be loosened in 2012; at a minimum, lease lengths may be extended to 75 years.