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WATCH: TRD discusses how China’s latest capital controls are affecting NYC real estate
Hiten Samtani breaks down May's cover story with Konrad Putzier & E.B. Solomont
In The Real Deal’s May issue, reporters Konrad Putzier and E.B. Solomont explored how capital controls out of Beijing are impacting Chinese investment in New York. Last week, TRD‘s managing web editor Hiten Samtani sat down with the two reporters to discuss the story.
Getting money out of China has been historically tricky, but new regulations have changed the game once again. Solomont explained that it’s not just corporate-level investors who are having trouble moving capital, but individual buyers looking to invest in homes abroad, as well.
“For the first time, they can’t get enough money out,” Solomont said. “They have to be a lot more creative if they’re able to get it out at all.”
In reporting the story, both Solomont and Putzier found themselves having to navigate “an alphabet soup of agencies” which regulate the movement of capital.
“That’s one of the issues we ran into in reporting this story,” Putzier said. “The whole Chinese regulatory system is very opaque.”
To go behind this month’s cover story, watch the video above.
For more videos, visit The Real Deal’s YouTube page.