Advancement of Augmented Reality and Virtual Reality in Real Estate Sector
Author : Prof. Archana TA, Dr. K Mahesha, Prof. J Raghavendra Babu and Dr. Bharti Ayer
Abstract :
This study looks into how deeply and complexly the emerging phenomena of virtual reality (VR) as well as augmented reality (AR) technologies affect the real estate industry, considering their seemingly obvious functions to appreciate their fundamental impact in changing the business paradigm. Real estate market growth is at an all-time high. Additionally, an exponential growth is anticipated in the upcoming years. The Technological advancement has made this sector more vibrant and more approachable. The latest technologies such as Augmented Reality and Virtual Reality have made this possible for the aspiring customers to explore more easily and conveniently into this sector. Augmented reality is an interactive experience which not only enhances the real world experiences by providing virtual property tours, visualization of interior design and interactive visualization of the amenities and other features available for the prospective buyers and sellers, but also helps the buys to track the progress of the various projects. Virtual Reality provides and allows prospective buyers to virtually experience and explore the various property requirements as per their choices. The yet to developed projects can also be visualized to take the appropriate decisions. Though the AR and VR technologies, even the other sectors too are progressing, there is an immense requirement of such technologies in Real estate sector to bring clarity in terms of various factors such as progress of the construction, 360 degree view of the property etc. AR provides an experience by superimposing digital information on real-world objects to create a 3D experience that allows users to interact with both the physical and digital world. Even the payments and budgets can also be aligned with the various other aspects of the Real estate requirements. Taking a different approach than typical analyses, Understanding and analyzing the various facets of AR and VR in the real estate industry will be made possible by this paper. The research utilizes a mixed-approaches methodology, integrating quantitative evaluations of user behavior and market uptake with qualitative inquiries into stakeholder experiences, architectural design implications, and ethical considerations. This study investigates the emotional and cognitive components of immersive property experiences, specifically how AR-mediated contextualization and VR-induced presence influence decision-making. It looks into the shifting interaction between digital and physical spaces, focusing on the implications for architectural design, property management, construction workflows, and property marketing. To evaluate their potential for producing smooth and simple user experiences, a rigorous examination of the underlying technologies is carried out, including spatial computing, hepatic feedback integration, and AI-driven content creation. The ethical and societal implications of AR/VR adoption in real estate are also covered in this study, including data protection, accessibility, and the possibility of widening digital disparities. It looks at the legal structures needed to guarantee responsible use and reduce dangers.
Keywords :
Augmented reality, virtual reality, real estate, technological advancement.
