(Yicai Global) Feb. 20 -- Chinese real estate firms are seeking ways to get tough the tough times of this year amid maturing debt and coronavirus-hit sales but online deals seem like a no-go.

This year marks the peak of Chinese property firms' debt repayments, according to data from China Real Estate Information. Some 95 developers have over CNY500 billion (USD91.3 billion) in debt due this year, up 45 percent from last year, the Shanghai-based consultancy added.

Similar to almost every Chinese sector, the Covid-19 outbreak and the prolonged Chinese New Year holiday show in the real estate sector. Some 81 Chinese property firms have filed for bankruptcy since the beginning of this year, according to court information site the People's Court Announcement. 

More than 70 percent of China's top 200 home developers sell online while over half of the 200 run their own online sales offices. During the virus-sensitive time for many consumers, many agents try to reach new clients by introducing properties via social media platform WeChat.

However, some 60 percent of Chinese consumers would not buy property online but instead use the internet to learn about the offering, according to Ke.Com research institute's survey.

Online promotions may reach potential clients but deals are made only once the epidemic has been contained as the business mostly remains offline, according to property research agency China Index Academy.

In the short-term, the Covid-19 epidemic will continue to affect home developers, China Securities Daily reported today, citing CRIC Director Fang Ling. Small and medium-sized firms with high levels of debt, tight cash flows, and scarce financing channels may face unsuccessful fundraisers, stalled sales, and delayed projects while high interest rates and expenditures such as labor costs may turn out fatal to them, Fang added.

Editor: Emmi Laine