Don't think you should worry about the virtual RAM frequency reported by CPU-Z. Notice it also detects it as EDO RAM (that's 1990s era RAM technology) instead of DDR3.
Before Extended Page Tables (EPT) in Intel CPUs, the hypervisor had to intervene and use software to manage and translate the VM RAM address to the actual physical RAM address on the host; and that introduced a lot of overhead and slowed things down.
As it is DDR3 1600MHz, I suppose the CPU is at least Ivy Bridge generation. EPT has been around since Nehalem.
Have a read of this https://en.wikipedia.org/wiki/Second_Level_Address_Translation