VR Tours as a tool for investors
Virtual reality (VR) technology is becoming an increasingly significant tool in the arsenal of modern real estate investors. VR tours offer a unique opportunity to thoroughly inspect potential properties, significantly saving time and resources. This is especially relevant for international investors, who now don’t need to spend time and money traveling to evaluate a property.
The VR market in the real estate sector is showing impressive growth. In 2020, it reached $1.4 billion, and forecasts for 2025 indicate an increase to $3.6 billion. This reflects the growing interest and demand for VR technologies among investors and developers.
Virtual tours allow investors to 'walk' through a property virtually, inspect it, evaluate its appearance, and even mentally make changes. This is much more vivid and informative than traditional photos or videos.
Moreover, VR tours are useful in the construction of new properties. Developers and architects can present projects in VR, allowing investors to evaluate real estate before construction begins. This not only speeds up the decision-making process but also increases trust in the project.
It's also important to note that VR contributes to increasing the transparency of transactions. Investors get a more accurate and comprehensive understanding of the property, reducing the risk of misinterpreting the real estate's condition. This is especially important in situations where physical inspection is difficult, for example, due to pandemic-related restrictions.
Considering these factors, VR tours are becoming not just a new trend, but a necessary tool for real estate investors who want to stay up-to-date with the latest technologies and optimize their investment processes. Adapting to new technologies becomes a key factor for success in today's dynamically changing real estate market.
Advantages of VR for investing
- Global opportunities: VR tours enable investors from any part of the world to evaluate real estate properties, significantly expanding the geography of choices. An example is the sale of a villa in Malibu for $28 million to an American investor who used a VR tour to familiarize themselves with the property.
- Optimization of time and resources: instead of traditional trips to inspect properties, investors can efficiently use VR tours to quickly evaluate multiple properties, saving both time and money.
- Realistic representation of properties: virtual reality (VR) technology provides a complete and vivid representation of the property, helping investors to better understand its potential and decide whether it is worth investing in.
Experience in using VR technologies
In many countries abroad, real estate companies are actively implementing VR technologies. Clients are invited to unfinished apartments or houses equipped with special VR equipment. This equipment allows clients, while moving through the real object, to simultaneously see its completed state through a VR headset. Thus, one can not only see the final design and layout but also arrange virtual furniture and interior elements, as well as visualize views from the windows, creating a more complete impression of the property.
Several international real estate companies are actively using VR technologies to enhance their services:
- Sotheby’s International Realty: the company offers virtual tours of its elite real estate properties. These tours are accessible from mobile devices and VR headsets and include high-resolution photographs, videos, and detailed descriptions of the properties.
- RoOomy: RoOomy provides virtual interior design services for real estate. The company has a library of 3D room decor that allows potential buyers to visualize and design the interiors of virtual homes, offering both standard and customized interior design solutions.
- Halstead Property: the company has integrated virtual tours into its marketing strategy. They believe that the emotional connection formed during a virtual inspection of the property can significantly influence purchase decisions.
- Matterport: known for its VR solutions, Matterport offers VR tours specially designed for real estate agents. Their development is based on research showing that a significant portion of people are more inclined to purchase real estate after a virtual tour. They offer various types of solutions, including a VR app for mobile users.
These examples reflect the growing interest in the use of VR technologies in the real estate industry. With virtual tours, potential buyers and investors can more conveniently and efficiently explore real estate properties from the comfort of their home.
The Impact of VR on the investment market
With the development of virtual reality (VR), the world of investments, especially in the real estate sector, is undergoing a real revolution. VR technology allows investors to inspect real estate properties remotely, saving time and money, especially when considering properties in other cities or countries. This offers the opportunity to delve deeper into the details and atmosphere of each property without leaving the office or home.
VR also enables developers and real estate agents to offer potential buyers and investors a more comprehensive and realistic view of the proposed project. This aids in making informed decisions based on a more accurate visualization of the future property.
For the investment market, this means faster transaction processes, increased transparency and accessibility of information, as well as reduced risks associated with misunderstanding the condition of the property. All these factors collectively make VR not just a convenient tool, but a necessary element in the modern investment process, especially in the context of a constantly changing market.
Virtual reality (VR) is bringing revolutionary changes to the real estate industry, particularly in the field of investments. VR technology offers investors unique tools for the efficient assessment and selection of real estate, expanding investment opportunities and reducing barriers to market entry. This contributes to a better understanding of projects and increases investors' confidence in their decisions. Such innovations enable the implementation of virtual tours of real estate properties, providing a deeper insight into the investment potential without the need for physical presence. Additionally, VR helps developers visualize and promote their projects, offering potential buyers and investors a unique experience of virtual immersion. Overall, the incorporation of VR in real estate not only simplifies the investment process but also opens new prospects for the industry's development.