May 6, 2015

Virtual Real-Estate. The unlikely connection between Virtual Reality and Property

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It’s the stuff of science fiction. Virtual reality was always the gimmick futuristic technology that you never thought would be created, yet now we see a growing hysteria around the Oculus rift and the fact that many people believe they have cracked virtual reality.  Suddenly, a lot of new possibilities are on the horizon.

Boasting great responsive movements coupled with almost realistic visuals, the introduction of this technology may revolutionise some industry sectors. One such industry could very well be the property market.

The pair seem like polar opposites: how could a gadget that has the power to immerse us into a battlefield or into the seat of racing car, correlate to 5 bedroom semi-detached house? The answer is that with new technology, just as you can sink into the reality of a soldier or racer you could also immerse yourself as a property viewer.

Properties already can be mocked and rendered with software for property development to a point of near realism, so what stops you putting on the headset and delving into a prospective property even if it hasn’t been built yet?

Imagine sitting in your local estate agents, putting on the headset and having a mill around 4 or 5 different homes in the space of an hour. This could all be a reality and would save a considerable amount of time for both the buyer and seller, and improve the rate at which new builds could sell.

This type of selling tactic has already been tried in London department store Harrods in which they offer a full 3D virtual tour of luxurious and very expensive apartments up for sale in London. More here. A sure sign Virtual Reality and Property may well have a future together.

But will “virtually” being in a property give you that same “feel” that you may get when visiting the house in reality? Could the cost of the technology and equally hiring professionals to design digital mock-ups of properties be a more cost efficient way than just driving to it? Either way it’s an interesting prospect that has got people talking, and a glimpse of the way technology is changing the most unexpected sectors.