Like every field, technology has been a gamechanger in the real estate industry. One of its most exciting applications lies in virtual reality with increasing takers among builders, brokers, agents, and buyers. What was seen as largely elite, became more commonplace during the pandemic. The worldwide lockdown forced people to adopt technology to overcome the lack of access. One of the key areas where technology came to aid during this period was in enabling prospective buyers and sellers to communicate and transact without meeting each other. 

From 3D virtual tours to VR, real estate companies in Dubai are leveraging different tech tools to connect with buyers, providing them with an overall experience of the property to help them make a decision. While it may not completely replace on-site visits, it does help buyers in getting the ‘feel’ of the property without stepping into the actual environs. 

Property ‘Tech tours’ today 

When it comes to property tours, there are a few viewing options available for buyers today. These include:

Video tours: One of the most basic tours, here the buyer views the property through a simple video. The viewer sees the property through the camera of the shooter. 

3D tour: Also known as the 360 tour or the panoramic tour, it ‘walks’ the viewers throughout the property. The images remain static, but the viewer can move the viewing angle, thereby getting a 360-degree view of the property. These tours can be conducted through a smartphone, laptop, or tablet. 

Immersive VR tours: Much like video games, here the viewing is far more immersive and requires special hardware and software support. Immersive VR technology can be quite extensive with possible add-ons like animation, high level of detail, and BIM (building information modeling) elements. Immersive VR is also useful when you want the viewer to get a detailed view of a property that is still in development. The software here is used to create a highly realistic virtual model. Viewed through VR headsets, the experience is far more immersive.

Why are virtual tours gaining popularity?

There are good reasons why virtual tours have taken hold in the real estate market. Apart from connecting buyers and sellers, these tours offer many other advantages, including: 

Contactless tour: During the pandemic, virtual tours gained traction in Dubai since it allowed prospective buyers or tenants to view a property while they were isolating at home. It also allowed them to avoid any contact with others. 

Save time and effort: A virtual tour is the best way of cutting down on time spent in viewing or showing different properties. For the buyers, virtual tours are the easiest way to visit multiple properties in a short period of time without moving from their home. At the same time, the seller or the agent is also freed from the task of conducting tours and visits for multiple interested buyers or tenants.  

Creating live experiences: How do you visualize a property where you have nothing more than a blueprint? Most sellers go with floor plans or an artist’s impressions to attract property investors. However, a simple sketch is rarely as captivating as an immersive virtual tour where tools like animation and AR can be used to bring life to the building plan. Supported with BIM (building information modeling), these immersive tours are highly detailed, giving the viewer a far more detailed view of a property that is yet to take off the ground. 

Will virtual tours replace actual visits when buying a property?

While virtual tours are becoming increasingly popular in Dubai, a buyer or tenant is unlikely to rely solely on them when making their final decision. Most people still like to visit the property before committing themselves. However, virtual tours are still important in helping them make the decision. Typically, a prospective buyer will use virtual tools to view multiple properties to create a shortlist. For undeveloped properties, the virtual tours can be even more critical in providing the investor with a realistic view of the finished project.

With Web 3.0 now running with an even more immersive metaverse, this space will further evolve with even more exciting products where your virtual avatar can chat with new neighbors and take a stroll through different neighborhoods. In fact, the metaverse has seen something of a goldrush recently as investors rushed buy land in the virtual world. As the virtual world becomes even more aligned to the real one, virtual tours will become the norm, enriched with lifelike details, and providing us with as close to a lived experience as possible. 

This article is written by Aayush Puri, the Head of Anacity.