Every month, JLL’s regional team curates the top commercial real estate industry articles to keep you in-the-know. In this month’s edition, JLL spotlights virtual reality in CRE, a rapid increase in commercial multifamily leasing, and modern architecture in city CBDs.
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Virtual Reality Enhances the Buying Experience for Prospective Tenants
Virtual reality (VR) technology is transforming the way real estate agents showcase and sell properties. VR software allows users to experience floor plans, views, lighting, landscaping and parking features from any device. As more industry professionals turn to VR for its added convenience, virtual tours will likely become the industry standard. As agents continue to seek profitable ways to implement the new technology, the VR market is expected to increase to $80 billion by 2025.
For now, real estate professionals are leveraging VR technology to offer an interactive experience that eliminates the need for on-site visits and enable tenants to better visualize spaces. Technologies like Matterport scans, Studio 216 and more allow clients to experience virtual spaces that feel real, which help when trying to visualize the look and feel of an office layout.