Real Estate

Global Property Deals Stall as Virus Keeps China Money Home

Spread of outbreak creates headwinds for property markets
Luxury deals are taking a hit from Singapore to New York

Apartment buildings in the Chelsea neighborhood of Manhattan.Photographer: krblokhin/iStockphoto via Getty Images

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By Rob Urban, Prashant Gopal, and Nic Querolo

March 2, 2020 at 4:20 PM UTC

Updated on

March 2, 2020 at 10:40 PM UTC

Eric Marrus, a real estate broker at Compass in New York, walked through a $7.5 million townhouse in Manhattan’s Lenox Hill neighborhood last week, pointing his phone into every corner of the property.

He was conducting a virtual tour via WhatsApp for a Chinese couple unable to visit the home together because of coronavirus travel restrictions.