Virtual Reality in PropTech as Enhancement for Real Estate Websites in Malaysia

Chong, Jia Poh (2020) Virtual Reality in PropTech as Enhancement for Real Estate Websites in Malaysia. Final Year Project (Bachelor), Tunku Abdul Rahman University College.

Text Copy of RRE#Chong Jia Poh#16WVR12084.pdf.pdf Restricted to Registered users only Download (6MB)

Abstract

Virtual Reality in PropTech is a new technology in real estate industry and assist real estate websites users to facilitate the searching progress. Virtual Reality is defined as immersion of users in an imagined presence in the real worlds while PropTech is defined as Property Technology. The combination of the term of Virtual Reality in PropTech is a realistic and immersive simulation of virtual environment through interactive software or hardware to enables users entered virtual world of properties without physically presence. Property buyer, property renter as well as property ‘seller and owner’ often utilise the real estate websites to search property. However, the limitations of real estate websites are the presence of lack realistic photo therefore Virtual Reality in PropTech is introduced in this research. The aim of the research is conducted to enhance the existing technology for real estate websites in searching properties and propose Virtual Reality in PropTech as enhancement for real estate websites in Malaysia. There are 276 sets of questionnaires are response by real estate websites users such as property buyer, property renter as well as property ‘owner or seller’ in Malaysia. Data collected shows level of agreement with Virtual Reality in PropTech in terms of its function, challenges and advantages. The results based on functions show that virtually visit of properties obtained a highest agreement follow by interactive and immersive experience then three-dimensional virtual environment and lastly architectural visualisation. While the advantages of Virtual Reality in PropTech having a greater agreement than challenges of Virtual Reality in PropTech. Moreover, the further analysis for data result based on gender, age and intention group is carried out in order to consolidate the research study. This research is contributed to the Real Estate Industry in Malaysia since Virtual Reality in PropTech as an enhancement for real estate websites.