The Future of Apartment Buying Has Arrived

Purchasers of off-the-plan homes can now for the first time take an immersive online inspection of a property, through to registering and signing a contract for the purchase of an apartment on the one platform. 

Created in response to the growing demand from purchasers seeking to inspect properties online, the Immersion digital platform provides the first three-dimensional digital walkthrough of an off-the-plan apartment, right down to the fit-out, building materials used in construction and functionality of individual apartments.

Boston Projects director Rhys Morgan said Immersion, which had been in development for 12 months, would give buyers more confidence when buying apartments sight unseen and before they are constructed. 

“The digital shift is already well under way in inspecting property online, and in particular for incomplete off-the-plan developments which cannot be physically inspected,” Mr Morgan said. 

Mr Morgan, who has worked in real estate sales for more than a decade, said Immersion addressed a significant digital gap in the market.

“There is no online system in the market which allows you to walk through an off-the-plan apartment in CGI, gather all the information you need, including comparing apartments and then purchase with a tap on your phone,’’ he said.

“In many ways it is a far superior experience than going to a display suite with static imagery and floor plans.

“Buyers can walk through as many times as they like, compare apartments, and make decisions in their own time, all in the comfort of their own home.

“The system accepts digital payments, automatically verifies the purchaser’s photo identification and generates the contract of sale, all while keeping the user on the same site in a highly secure environment.’’

▲ Immersion addresses a digital gap in the market, says Boston Projects director Rhys Morgan, pictured on right with Deicorp executive manager Rob Furolo.

Mr Morgan said the shift towards people buying property without a physical inspection, accelerated by the Covid restrictions of the past two years, was here to stay. 

“Recent surveys show that around 30 per cent of buyers say they would buy a property without physically inspecting it and we see that trend growing.

“In the US, during the height of the pandemic, close to two-thirds of millennial home buyers were reported to be purchasing properties without undertaking physical inspections.

“Buyers can still go to a display suite if they wish and talk to a salesperson, but the beauty of Immersion is that you can come home and look in more detail at the project, before going ahead with a purchase of a particular apartment,’’ Morgan said.

The award-winning Australian-owned property developer Deicorp is the first to use the Immersion platform for its Downtown residences in Sydney’s Zetland. 

Deicorp executive manager Rob Furolo said, “As the first developer to be awarded the NSW Government endorsed Independent Construction Industry Rating Tool (iCIRT) last December, we are proud to be the first to adopt the Immersion digital platform to give buyers even more confidence when purchasing off-the-plan. 

“Immersion gives property buyers a greater level of detail than ever before of the look and feel of an off-the-plan apartment.

“It will give them the opportunity to view and research the details in their own time and when they are unable to visit one of our display suites.”

To view Deicorp’s Downtown development on the Immersion platform visit: https://www.downtown.immersion.com.au 

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