Chinese builder Landsea to invest $1 billion in U.S. housing market

A rendering of Landsea Group's development in Dublin, Calif. / Landsea Group
A rendering of Landsea Group’s development in Dublin, Calif. / Landsea Group

By Tim Logan | Los Angeles Time

A Chinese homebuilder is poised to invest $1 billion into the U.S. housing market, starting with two developments in California and one in New York.

The venture, by Nanjing company Landsea Group, could signal the beginning of a wave of Chinese investments in single-family homes in the U.S., part of a larger influx of Chinese money.

From our research, Chinese customers in the U.S. don’t want to live in a 100% Chinese community. We think we’ll sell maybe 30% to Chinese buyers.

– John Ho, managing director of the Landsea’s U.S. subsidiary

Landsea — which builds about 12,000 houses a year in mainland China and also develops in Hong Kong and Germany — comes to the U.S. amid signs that the red-hot market at home is cooling off. Building costs in China have soared in recent years, and lately prices have started to fall in many cities.

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