Chinese property firms bank on virtual reality as virus fears hit market

China's property developers and realtors are turning to virtual reality sal...

HONG KONG - China’s property developers and realtors are turning to virtual reality salesrooms and livestream marketing to thaw a frozen market as the coronavirus epidemic keeps physical offices shut and potential buyers are afraid to leave their homes.

The livestream on Tuesday attracted a total of 510,000 viewers for Sunac, China’s fourth-largest developer by sales, but it was unclear whether any of them bid for the property. The outbreak has led to several cities being locked down, mass quarantines and work and travel disruptions as Beijing works to contain the flu-like virus which has killed 1,380 people and sickened more than 60,000.

“The online sales platform has been around for a while, but it was mostly for advertising and chats between agents and buyers,” said Centaline Shenzhen General Manager Alan Cheng.

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