Revolutionary Tech: Augmented and Virtual Reality in Property Development

Property development, and indeed all aspects of the Property industry, are set to be completely revolutionised by the advent of virtual and augmented reality technologies. In this series of posts, we will be looking at the ways that VR and AR will affect different aspects of the industry, and in this post, we are focusing on the impact of augmented and virtual reality in property development.

Augmented and Virtual Reality in Property Development Works With Property Marketing and Construction Teams

The development of both residential and commercial property will be streamlined for efficiency and speed with the use of these technologies. The effects upon the world of property development largely go hand in hand with both planning and construction, and property marketing, with the result of optimising the rate at which a property goes from the architect’s board right up to sale.

One of the fundamental problems that has frustrated property developers for years is the fact that buyers tend to find it hard to adequately visualise what a property will look like simply from viewing sketches and blueprints. Even two dimensional visualisations in brochures have a limited impact on buyers when it comes to buying off plan. The 3D visualisation, that both virtual and augmented reality allow, offers a more tangible (in a way) method of interaction with a property. As such, the increased use of virtual and augmented reality technologies in real estate marketing may have a positive impact on the speed at which a property can be sold off plan.

Augmented Reality in Property Planning

From the planning side, property developers will increasingly be able to collaborate with developers, architects, and teams from all across the project. This will allow increased communication, which has been a real obstacle to date. A particularly good example of how collaboration can be improved by visualisation software is augmented reality.

Augmented technologies, such as Microsoft’s Hololens, mix holographic images with the real environment. It scans an area before overlaying computer generated graphics, objects and surfaces onto the real-world view. This will be instrumental, particularly for architects, but also developers, who will be able to visualise the project alongside the rest of the team before it exists in reality. This also allows members of the team to spot flaws or issues associated with complicated processes involved in a construction project, thus enabling the ability to address these ahead of time, keeping a project from going over budget and over deadline.

Virtual Reality in Property Development and Public Engagement

Another issue that has plagued property developers for years is one that is often encountered before the project even breaks ground. When it comes to applying for planning permission, citizen objections and complaints can get in the way of getting the project started. This can be a costly interference, as well as, of course, being somewhat of a nuisance.

Again, part of this issue relates to the inability of people to properly visualise how a project will look upon completion. With the use of augmented and virtual reality property visualisations, concerned citizens will not only be able to see the effects of the project upon the local scenery, but also its impact upon traffic, health and safety, and even property prices in the area. This may help to put people’s minds at rest, by allowing them to feel more included and informed in the project itself, and thus may also help to alleviate some of their worries.

This improved engagement with local residents and business owners may also have a welcome benefit to the developers themselves, who will have the opportunity for valuable feedback. This may help the developers with the early planning stages of a project.

Property developers are one of the groups who are set to benefit most from the rise of augmented and virtual reality visualisation technologies in property. Minimising some of the long-standing issues of the property development industry will have untold benefits for the speed at which developments can be completed and sold. As such, this may also have a positive effect of alleviating some of the supply shortages currently affecting the UK property market.

If you would like to learn more about the sectors within the Property industry that will benefit most from these technologies, and the ways in which this will happen, then be sure to download our upcoming whitepaper ‘How Virtual and Augmented Reality Will Revolutionise House Building and Property Marketing’.

Download our Whitepaper Revolutionary Tech – Augmented & Virtual Reality in Property Development:

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