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Barrons (23 March 2020) Virtual Reality’s Role in Global Real Estate Market Expands Due to Coronavirus

"Chinese buyers, like other international and domestic buyers, are now relying more than ever on virtual tours. In February, there were about 350,000 virtual tours per day by Chinese real estate agents and buyers, which was about 35 times the amount of virtual tours in January, according to SupChina, a global news site that focuses on information about China," reports Barrons.

"Chinese buyers represented 11% of international real estate investment in the U.S. in 2019, according to the National Association of Realtors, purchasing the highest dollar amount of international buyers at $13.4 billion last year," reports Barrons.

"Investors, however, are more likely to buy via a virtual tour since they don’t plan to live in the property...," reports Barrons.

Source: Barrons