AS we know prop-tech, or real estate technology, is the trend going forward and is expected to reshape and redefine the property market — from the way we buy, sell or rent properties, to how we manage the assets.
Prop-tech has become so advanced that property buyers today are able to view upcoming developments via virtual reality (VR) technology, providing a 360-degree realistic viewing experience.
PropertyGuru Malaysia country manager Sheldon Fernandez said, there is no denying that technology has caught up with the property industry, and those who are not on the bandwagon will soon be left out.
“In essence, VR and augmented reality technologies allow for the exploration of different possibilities and approaches, for example, for interior design or even for homeowners to ‘imagine’ or conceptualise the different options available.
“Rather than building several show units, one can use VR to show these units at a fraction of the cost. We recently launched our VR showroom in Singapore, enabling consumers to view condo showflats, with property agents on hand to provide consultations, all through a mobile truck outfitted with VR goggles,” he said.
Fernandez said VR showroom can be effective when a project’s showflat has been demolished and the developer still has unsold units.
Other advantages of VR technology include immersive experience that is better than virtual tours or 2D photos.
Drone is another type of technology that makes videos for panoramic and aerial views of communities and localities.
Fernandez said drone videos allow buyers to get a better perspective of the location and aerial view of the communities surrounding the project.
“Not only do prospective buyers enjoy a bird’s eye view, they are also able to get a better perspective of the actual physical location and the overall surrounding area. This would include being able to see key lifestyle make or break factors such as traffic conditions, any potential attractive or detractive features and much more.
“For us, it’s all about embracing technology to help people make confident property decisions through relevant content, ‘actionable’ insights and world-class service,” he said.
PropertyGuru launched a mobile app in 2012 and it has since garnered more than three million downloads from Singapore, Malaysia, Thailand and Indonesia.
Malaysian downloads alone stand at 700,000 and counting, said Fernandez.
“Property hunting’s just got easier as consumers can easily search for properties on the go, sync and shortlist properties on all devices, and visit or find out more about new launches — just from the PropertyGuru mobile app alone,” he added.