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Virtual 3D Tour Assistance in Real Estate Management

Author

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  • Leimontaitė Lina
  • Naimavičienė Jurga

    (1 Vilnius Gediminas Technical University, Vilnius, Lithuania)

Abstract

Over the past decades, more efficient real estate management opportunities have significantly expanded and improved. Complex methods, innovative techniques, and a constantly evolving spectrum of information technology have become readily available for common use. When managing real estate for short-term or medium-term rentals, planning, servicing, and ensuring accommodation quality are inseparable aspects, as is providing suitable housing. This process begins at the very first step when potential tenants request a viewing of the preferred property. The situation of the past few years demonstrated that the real estate business was one of the most affected economic sectors by the COVID-19 pandemic. Potential buyers or tenants could no longer physically visit and experience the space as before. Faced with this new reality, there was a need to find a tool to enhance the real estate management strategy by presenting the property. One such tool became the 360-degree photography and virtual tour. The aim of this study is to assess the practical applicability of 3D video tours and evaluate the advantages and drawbacks in short- and medium-term rental business.

Suggested Citation

  • Leimontaitė Lina & Naimavičienė Jurga, 2023. "Virtual 3D Tour Assistance in Real Estate Management," Baltic Journal of Real Estate Economics and Construction Management, Sciendo, vol. 11(1), pages 153-159, January.
    • Handle: RePEc:vrs:bjrecm:v:11:y:2023:i:1:p:153-159:n:7
    DOI: 10.2478/bjreecm-2023-0010
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