How Digitalisation Is Booming Real Estate Market In 2023

7. Virtual Reality (VR) will be a key tool in real estate deals by 2025

Realtors are searching for new real estate digitalisation platforms that can be utilised to efficiently sell real estate projects and homes as the field of digital marketing becomes more and more competitive.

By 2023, analysts predict that property sellers looking for a competitive advantage will turn to virtual reality (VR) & augmented reality (AR) tools like VR tours and AR visuals. This is owing to a rise in knowledge of these technologies among people of all ages.

The property industry benefits from real estate digitalisation, when it comes to online property sales. Realtors will be able to give prospective purchasers a virtual tour of their home using this emerging technology in the coming years without having to travel to the area.

Financial Times estimates show that between 2012 and 2015, 20% of residences sold in this manner; by 2023, that number is predicted to rise to 30%. The majority of the time, real estate digitalisation align with the rest of the market following in a linear pattern.

Real estate agents, sellers, and purchasers will all profit from real estate digitalisation/virtual reality. Virtual reality has the ability to streamline real estate transactions by removing geographic restrictions and offering prospective purchasers a “digital walkthrough” of homes they interested in purchasing or renting.