Virtual reality seen to boost real estate investing in Philippines

VIRTUAL reality (VR) technology is set to revolutionize the buying and selling of real estate in the country, property portal Lamudi Philippines said.(business.inquirer.net)

Lamudi believes that in the future, investing in property worldwide will be as easy as investing in the stock market with the application of VR technology, which is seen to heavily influence the buying process. “This revolutionary upgrade in real estate buying is likely to open up the market to international buyers and can make home-buying a faster and more efficient process,” Jacqueline van den Ende, founder and CEO of Lamudi Philippines and MyProperty.ph said in a press statement. The Lamudi official noted that homebuyers nowadays would want to be able to view the property they are interested in even while they are on the move or from their own homes armed with a pair of VR goggles.

Because buyers want more than photos, virtualization is pitched as a way for them to experience their prospective home in a 360° environment wherever they are. With VR technology, actual site visits to fully immerse oneself in the property is no longer required as a high-quality and fully interactive image allows buyers to experience what it is like to be in the property for sale. Just as how many other sectors have been transformed with the launch of VR goggles, the same is seen happening to the real estate market.

Pioneering the use of VR technology, Lamudi is set to stage the country’s first ever virtual reality real estate expo (VR Expo), aiming to showcase the most impressive properties from top local developers in a brand new way.

Lamudi’s VR Expo is scheduled on September 3 to 4 at the Bonifacio High Street Activity Center. It will be open free for the public from 10 a.m. until 10 p.m. on both days. The VR Expo is being pitched to all buyers, sellers, renters, landlords, brokers, investors, and everyone who want to experience cutting-edge technology applied to real estate.