LAS VEGAS (KTNV) — Asians and Polynesians are one of the fastest-growing ethnic groups in Las Vegas.
As we celebrate Asian American and Pacific Islander Heritage Month, anchor Abel Garcia speaks with a local real estate expert about the major impact the AAPI community is making on the valley.
Shane Nguyen says his favorite thing is showing clients a home.
AAPI STRENGTH
The real estate agent and broker says after 26 years in the Las Vegas market, he knows the valley inside and out. He believes about 12,000 Asian Americans and Pacific Islanders are moving here every year.
In all, the AAPI population is about 335,000 strong in Nevada according to the 2020 U.S. Census, and most of them live right here in Clark County.
"We had 1/3 of the population of the AAPI, today we tripled that amount we have 255,000 AAPI here," says Nguyen.
He says a big reason why; Las Vegas prices are much lower in comparison to other metro areas. He says the majority of members in the AAPI community are moving here from California.
"The real estate over there is almost three times more than over here so as you can see it is very affordable and it's close to California," says Nguyen.
He says real estate isn't the only reason why people move here. There's also our business-friendly culture.
"We invite small businesses, we don't have a corporate tax, personal tax, involuntary tax, we don't have franchise tax, gross receipt tax, so it makes it very attractive for business owners," says Nguyen.
He feels like a majority of the AAPI community is very business driven. Running everything from restaurants and dry cleaning, to dental and doctor's offices, making a significant contribution to the Las Vegas economy.
BOOMING GROWTH
Nguyen says Chinatown is expanding significantly and the AAPI presence is growing across the whole valley.
"We help the real estate market in terms of buying homes, there are many investors out there that are not from Las Vegas or Nevada, and they come from other states to invest here because it is so affordable," says Nguyen.
He says he came to the U.S. from Vietnam when he was only 9-years-old. His family didn't speak English or have any money, forcing them to start from the ground up.
Nguyen says many in the AAPI community share the same story, moving to Las Vegas to change the narrative. He's thankful to the city he calls home for providing everyone with a chance at a bright future.
"Las Vegas is an amazing city it is a melting pot and It welcomes all walks of life," says Nguyen.
