VR could take off in China's property market
While still in its early days in China, the property market is one of the largest areas where virtual reality (VR) could take off, according to Eddie Lou from Greenlight Insights China, speeding up purchase decisions and eventually eliminating the need for real estate brokers. "A lot of big real estate companies in China right now are either experimenting or using it", he said, adding that because VR can be used to capture an existing property or simulate one that is yet to be built, it also eliminates the need to build "bricks and mortar" showrooms.
It is expected that by 2020, virtual reality technology will be in widespread use in the property industry for viewing real estate. Photo: AFP