Photo credit: PropertyGuru.
Virtual reality (VR) is mostly associated with gaming, but it’s not why there’s so much investment flowing into this sector right now. It’s not why Facebook bought Oculus either.
One of the things VR can do really well at the moment is convey the experience of navigating through a 3D space.
The goal is to enable all kinds of experiences with VR, from entertainment to science to commerce. Real estate startup Property Guru, for example, announced today it’s introducing VR viewing of properties. Prospective buyers will be able to put on a headset and move around a digital version of the house or flat they’re after.
This can help with properties that are still being built or aren’t practical to visit for some reason. It’s also cool because it’s, y’know, VR.
“We’ve always been passionate about bringing the latest technologies to people’s fingertips. Through VR, we help property seekers better visualize new projects, making house-hunting more efficient,” says Bjorn Sprengers, chief marketing officer for PropertyGuru.
The VR experience is part of the company’s PropertyGuru Great Singapore Specials, or PGSS, campaign, an annual showcase of selected properties offered at attractive prices. The company says VR content will be available through the PGSS page and also at roadshows in Singapore on July 9 and 10. Beyond this, the company says it will look to offer VR “together with other innovations” to consumers in the coming months.
See: I’m Steve Melhuish, co-founder and CEO of PropertyGuru. AMA!
The real estate market is gearing up to be a big driver in VR. It makes sense, as one of the things VR can do really well at the moment is convey the experience of navigating through a 3D space. Australian startup StartVR offers this among its other VR-related services, while Sotheby’s International Realty was showcasing high-end properties in Los Angeles using Samsung’s Gear VR last year.
PropertyGuru had a busy 2015, highlighted by acquisitions and a US$129 million series D fundraise. Its most recently announced acquisition was luxury property media startup Ensign Media in January.
Southeast Asia competitor iProperty made headlines when it was acquired by a subsidiary of Rupert Murdoch’s NewsCorp in November 2015 for US$534 million.
Editing by Terence Lee
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