On June 27, PropertyGuru showcased its latest technology of showflat viewing using virtual reality (VR). In the bustling CBD at Raffles Place, an ordinary truck was converted into a PropertyGuru VR Showroom for passers-by to test the VR demo.
A few months back I just had an amazing ‘virtual theme park roller coaster ride’ at the Samsung Galaxy Studio in front of Ngee Ann City. Wearing that heavy Samsung Gear VR on my head, it was a thrilling 5-minute sitting in the 4D Theatre plunging down at high speed during the virtual ride.
So when I read that the PropertyGuru VR roadshow would be in Jurong Point, I couldn’t wait to have my first-hand experience viewing a showflat through virtual reality.
Virtual Reality for Properties
Allow me to talk about virtual reality in properties in less than 150 words.
Virtual reality is a concept developed in 1968; though the world only started using VR technology in buildings in the 1990s. I first learned about VR in the early 2000s when Second Life created a software that allowed users to live, make friends, rent and buy properties in a virtual world.
There are also virtual events that can save costs in travel and venue booking. Say there is a seminar or exhibition marketing overseas properties. Buyers attend the sessions or visit the virtual booths online. Developers and marketing agents interact with prospective buyers using online technologies like webcasts and live chats.
Start VR, a virtual reality studio based in Sydney, offers Virtual Reality Real Estate service for developers selling off-plan projects. The technology offers prospective buyers with a VR headset the experience of a virtual tour of the actual property by simulating the scenes inside the property.
Verdict of PropertyGuru VR Showroom
It took me some time to find the exact location of the VR Showroom outside Jurong Point. Because the demo was installed in a vehicle, the truck could only be parked along the roadside instead of inside the shopping mall.
Although PropertyGuru hired a professional emcee and a few promoters, there was almost no traffic on a Sunday afternoon. Maybe it was the location. Or perhaps people didn’t like the hassle of walking under the hot sun to see something they have not heard of.
I took a few photos of the truck, the demo and the promoter. The emcee announced that they managed to attract a ‘tourist’ to the VR Showroom!
The VR headset was too heavy for a wearable gadget. I was surprised to find that the simulated scenes of the showflat were utility area and a tiny toilet next to it. I was expecting to see scenes of the living room or the master bedroom with fancy interior design concepts.
There was a game to find 3 vouchers hidden in the 360-degree showflat in 5 minutes. I found them within seconds and was rewarded with a $50 furniture/decor voucher.
PropertyGuru probably gets the idea of VR Showroom from the pop-up stores along Orchard Road marketing all sorts of stuff such as popular toys, new fragrances, sexy lingerie and local designer collections.
One suggestion is to show the VR Showroom in a mobile cart so that it is flexible to showcase in a booth at the shopping malls or at tradeshows.
Instead of giving away vouchers with minimum purchase, PropertyGuru can consider what Samsung Galaxy Studio managed to draw the crowd – free gelato for everyone and lucky draw to walk away with a Galaxy S7 edge 4G+ Injustice edition!
Do we need virtual reality showflat?
Steve Melhuish, CEO of PropertyGuru, told the media that their VR products and services will be ready in 12 to 18 months’ time. And in 5 years, some developers might want to save a million to build a showflat. It is a more cost-effective way to help developers to do concept testing for consumers on new architectural designs.
Is Singapore’s property industry ready for VR?
Yes and no.
With declining profit margins, developers are trying to find ways to minimize cost. A sales gallery with a showflat needs close to $2 million to build. In a slow market, it takes months or more than a year to clear all the units. It is not cost-effective to continue paying rent, utility bills and staff to maintain the sales gallery. A Virtual Reality Showroom truck is much cheaper to maintain and more flexible to reach out to prospective buyers in different parts of Singapore.
However, a big constraint of VR Showroom is that buyers cannot touch, measure or take photos of the simulated scenes.
Above all, we know that most things in the showflats are ID concepts only. It is more practical to use VR to see the actual unit or the bare unit – minus all the ‘artist impression’ and ‘for display only’ bells and whistles in the showflat. If only developers can be honest with buyers and be transparent to the point of WYSIWYG.
Afterall, buyers are not playing Pokémon Go location-based mobile game here. What’s the point of using augmented reality to enhance our perception of our future home when we are paying for something totally different in the real world?
See more photos of PropertyGuru’s Virtual Reality Showroom in PropertySoul Facebook at https://www.facebook.com/propertysoulblog. Remember to give me a ‘Like’ if you can spot me there!
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