US Lennar International brings properties to woo Vietnamese buyers

Lennar International brought a series of projects in Dallas, Houston, Florida, and California, among others, and tips on investing in them to share with Vietnamese buyers at an event held on March 23, 2019 in Ho Chi Minh City.

According to Steven Lawson, business director for Asia region of Lennar International, the steady growth of the Vietnamese economy and the rise of the Vietnamese upper class are factors that stimulate investment flows from Vietnam to overseas countries including the United States.

Lennar International brought a series of projects from Dallas, Houston, Florida, and California as well as investment tips to Vietnamese buyers

“Lennar International has started business in Vietnam with a number of partners, including Interhome, and we have realised that the demand for buying houses from overseas Vietnamese, especially in the United States, is huge,” Lawson told VIR.

"I previously used to work in China for many years and I realised that the demand for houses in the United States is growing among Vietnamese people, just like I saw in China in 2012-2014," he added.

“Vietnamese investors are very sophisticated and wise in their investments, and real estate in the US can meeting all the needs of Vietnamese investors,” Lawson emphasised.

Representatives of Internhome recieved the official certification as Lennar International's representative in Vietnam

The most important issues were high quality and good location, with competitive pricing. “All these factors resonate, it is worth it for Vietnamese customers to consider the options,” Lawson added.

Currently, Lennar International and Interhome partners sell properties in the range of $200-600,000 in Vietnam. "I think this is a pretty good price compared to the millions of dollars they charge for a property in Ho Chi Minh City," he said.

The good quality, high demand for buying, and high profit for rental and resale investment will be a plus for US real estate in the eyes of Vietnamese buyers.

The US real estate market, according to experts, is stable and its development path is largely predictable. Moreover, houses in the United States can be permanently owned, that is, house buyers can hold the property for generations – another factor attracting Vietnamese buyers, Lawson added.

In addition, the United States provides no preferential treatment for Americans over foreign homebuyers, all are treated equally. “This creates great trust among investors from Vietnam when buying real estate in the United States,” he added.

Vietnam is currently at the 6th position among the 10 nationalities buying houses in the US, according to the United States Real Estate Brokers Association.

Vietnamese citizens also receive a rather high number of visas for EB-5 investors, suggesting that investment in the United States is becoming a trend among Vietnamese investors.

According to Fortune magazine (New York), US housing prices increased steadily by an average of 6.3 per cent per year, particularly in Seattle and San Francisco, which recorded the biggest increases of 12.7 and 9.3 per cent in 2017, respectively.

According to the latest statistics from the Ministry of Education and Training of Vietnam, about 130,000 Vietnamese citizens are studying abroad, with 28,000 in the US, making it the largest foreign education destination.

Global Real – Interhome is a pioneer in providing comprehensive solutions for US-based properties and in being a connection for Vietnamese investors who want to buy properties abroad.

Not only bringing potential property projects which can benefit investors, Interhome also offers legal support to make it easier to buy and lease or resettle in residential projects in any state of the US.

Founded in 1954 and headquartered at Miami and listed on the New York Stock Exchange – Florida (NYSE: LEN), Lennar International is the biggest real estate developer in the US. With a turnover of $20.57 billion in 2018, Lennar International provides residential projects in 21 states and 50 cities in the US, with customers coming from 102 countries, including Vietnam.​​​​​