Can VR help commercial property decision making?

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Virtual reality (VR) and augmented reality (AR) are being used to help property developers and tenants visualise uncompleted buildings, as well as proposed changes to existing buildings.

Virtual reality uses a headset to enable users to see and interact with computer-generated 3D worlds, while augmented reality adds computer graphics to what a person sees through their AR glasses. both technologies are being used to visualise changes to commercial property.

VR software uses a database of building components and costings. If a building owner or tenant wants to make changes to a building, the software enables them to see what the changes will look like, and also provide detailed costings of the proposed changes.

The technology can also help to visualise what a room will look like if the colour scheme and furniture are changed. VR and AR have been used in residential spaces, offices and restaurants to quickly visualise and any changes to the interior design.

Both residential and commercial developers sell property before construction has finished. Buyers have to rely on 2D plans and drawings to inform purchasing decisions. VR, however, can provide a 3D view of the finished building, which users can walk around and view in all directions.

Buying or developing commercial property can be costly, and if using a commercial mortgage, is a long-term commitment. If investors can have a VR or AR experience of how a building will look and function, and this can help them make informed decisions about purchasing or developing property.

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