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According to a report by Goldman Sachs, the VR and AR market in real estate is expected to reach $2.6 billion by 2025, with the XR market expected to grow even faster. This growth is being driven by a range of factors, including the increasing availability and affordability of VR and AR devices as well as the exploding demand for more immersive and interactive experiences - online and on site. The emergence of XR in PropTech has dramatically expanded the hiring scope at top commercial real estate firms, where executives are suddenly debating how to effectively scale new tech skills like digital twin engineers, AR designers, and VR developers.
Drew Cano
February 9, 2024
Companies like Floored, Homestyler, and Giraffe360 are already way out in front with a big lead as the next wave of aspiring PropTech unicorns inspire a reticent field of traditional real estate firms to acquire talent from entirely unfamiliar fields: UX design, product management, generative AI, and AR just to list a handful. As younger generations bring their expectations to the marketplace and companies continue to attempt to lure employees back to the office with more carrots than sticks, the world of PropTech takes center stage. For instance, Resonai predicted that 90% of commercial property tours will be virtual by the end of this year.
Natali Craig
January 27, 2024