3D VR tours in residential developments is a business likely to continue growing.
3D virtual reality tours are quickly becoming a popular tool in the residential multi-family housing market. These immersive experiences allow potential residents to explore a development and get a feel for the layout and amenities before they even set foot on the property.
One of the biggest benefits of using 3D virtual reality tours in residential developments is that they provide a more interactive and engaging experience for potential residents. Unlike traditional static marketing materials, such as brochures or floor plans, virtual reality tours allow users to explore the property at their own pace and get a sense of the scale and layout of the development.
Additionally, 3D virtual reality tours can be a valuable tool for marketing and sales teams. By providing potential residents with a realistic, immersive experience of the property, developers can better showcase the features and amenities of their developments, helping to differentiate their properties from the competition. This can help to attract more potential residents and ultimately drive sales.
The global virtual reality market size was valued at USD 21.83 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.0% from 2022 to 2030.
Another benefit of using 3D virtual reality tours in residential developments is that they can save time and resources for both the developer and potential residents. Instead of scheduling in-person tours or spending time traveling to multiple properties, potential residents can easily explore a development from the comfort of their own home. This can help to streamline the sales process and make it more convenient for potential residents to learn about a property.
Of course, like any technology, there are also challenges to using 3D virtual reality tours in residential developments. For example, creating high-quality 3D virtual reality tours can be time-consuming and expensive. Additionally, not all potential residents may have the necessary technology, such as a virtual reality headset, to fully experience the tour.
According to research by the International Data Corporation (IDC) research, VR and AR market will reach 15.5 billion euros by 2022. AR and VR spending would reach $18.8 billion in 2020, an increase of 78.5% over the $10.5 billion, achieving a five-year annual growth rate (CAGR) of 77.0% to 2023.
Despite these challenges, however, the use of 3D virtual reality tours in residential developments is likely to continue to grow. As technology becomes more advanced and accessible, developers will be able to create even more realistic and engaging virtual reality experiences, helping to attract potential residents and drive sales.