IMPLEMENTATION
of VR and AR in the Property Market
Implementation of VR and AR in the Property Market
According to data published by Goldman and Sachs, as many as 1.4 million estate agents are using VR to showcase property to prospective clients, with experts predicting that by 2025 the VR/AR solutions market could be worth circa $80 billion.
Reality technologies are disrupting the property development sector in a variety of different ways. VR property showcases provide an easy, convenient and safe means of enabling prospective customers to take a tour of a building. The luxury property dealer Sotheby recently launched virtual walkthrough options for Android or iPhone users who own VR headsets. These developments are not confined to the luxury segment, with virtual property showcases becoming increasingly mainstream. In some cases, customers can even take a virtual
bike tour around the neighbourhood to get a feel for what it would be like to live there.
AR is also being deployed in real-estate marketing, providing customers with essential information about properties prior to contacting the estate agent. Today, potential buyers can learn a property’s price and square footage etc. simply by pointing their smartphone at a building. AR and VR technology also help customers and interior designers to visualise how furniture spaces and home décor would look in a particular setting.
You can learn more about current trends in property development by visiting the blog of Vladislav Doronin.
