VR turns viral in China’s real estate during epidemic outbreak, property viewing in 100 cities becomes reality
China Knowledge Online
Feb 20, 2020

Feb 19, 2020 (China Knowledge) - Coronavirus outbreak in China has resulted in the government’s extreme measures shutting down all showrooms to reduce human interaction. In matters of days, the country’s intelligent hi-tech housing agencies rapidly adopted Virtual Reality (VR) to offer the close up and surreal viewing of properties.

Since China’s implementation of compulsory homestay quarantine from Feb 3; in less than 2 week, the country property giants like Vanke (000002), Poly (600048), Greenland (600606), Sunac (1918) and more than 50 real estate developers have together to collaborate with Anjuke to provide VR viewing of properties. Covering more than 5,000 real estate projects in more than 100 cities across China.

Joining onboard is another major online property agent, Fang.ke, a VR sales center launched on Feb 18, with more than 400 cities’ 77,000 new properties built-in for viewing.

These VR providers allow buyers with one-stop-shop services from VR viewing, close up layout mapping to submission of purchase. Through VR viewing, users can walk freely in a 720-degree angle to view house layout, decoration, room space in an immersive experience. At the same time, VR can achieve "triple sides on screen", linking up user, broker and property consultant. This allows customers to select houses served by agents, meanwhile check multi-dimensional information interpreted by the consultant, such as surrounding facilities and transportation.

Anjuke’s online data shows that new visits have increased 62.7% MoM, with more than double growth in Guangzhou and Hebei. More than 100 properties in 10 cities have seen strong sales subscription. More new properties are expected to be covered with optimized online purchases relying on VR, AI and other technologies.

When this epidemic mishaps, the buying and shopping habits of property buyers and developers are likely to rely on such online platform. With more intelligent AI features and improved VR contents, the switch from offline to online property hunting and buying will rapid, and no turning back.

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