While Nigeria may still be far from resolving its housing crisis, VR technology can significantly improve the house-hunting experience by making it more convenient for clients.
By Michael Akuchie
Uyi Osawaru recently secured a job as a mid-level staffer at an advertising firm in Lagos, Nigeria. Two months before his expected resumption date, he started exploring housing options that were closer to his new office in Ikeja, the state capital. Like any house-hunting Lagosian, he joined several WhatsApp groups managed by real estate agents.
Every day since he joined, the groups were constantly flooded with pictures and videos of properties across Lagos. From studio apartments to fully furnished mansions, the groups had several housing options. Although he could see the picture or video of a studio apartment, nothing would help him make a final decision than visiting the property.
So, he made a shortlist of apartments he wanted to check out and began visiting each location, one by one. He didn’t mind that some of the trips took between one and three hours, depending on traffic and other factors, from his current location in Ikorodu. He was determined to find a place to call home before starting his new job.
Beyond the stress of moving from one prospective property to another, Praise–another house-hunting hopeful–had to contend with the unreasonable demands of agents who insisted he pay just to view the properties. Some referred to it as a ‘registration fee’, while others called it a ‘viewing fee’—a supposed way to ensure he wasn’t wasting their time.
During a WhatsApp call with Osawaru, he told me that he did not mind paying the obnoxious viewing fee if only the agents would make their property viewing process less cumbersome. I asked him what he meant, and he said “Oh I don’t know. Perhaps they could find a way to integrate technology into the process”.
Lagos, one of Nigeria’s most populated cities, is battling a major housing crisis that has prompted rents to increase astronomically year after year. According to a Pison Housing Company report, 80% of Lagos’ 20 million inhabitants currently occupy rented accommodations.
What’s more and perhaps the most interesting fact from the report is that Lagosians spend up to 50% of their income on annual rent alone. With the country experiencing one of its worst inflation cases amid local currency devaluation and petrol subsidy removal, the ability of Lagosians to afford house rent and other essentials keeps shrinking.
Even for the ones that can afford housing in Lagos and other popular cities such as the FCT, Port-Harcourt, and Kano, the process of viewing a prospective property is cumbersome. Factors such as geographical differences and time constraints come into play. For instance, a client based in Benin City, the Edo state capital, may find it difficult to travel to Lagos because of a property viewing that may not end up becoming a match.
Even if they chose to ask a friend to help them check out apartments, the friend’s tastes and theirs may not align. The same goes for the Lagos-based employee who may not be keen on carving out time from a 9 to 5 role to visit some prospective apartments or flats.
It’s worth mentioning that Nigerians not only seek affordable housing options but also desire a more convenient property viewing experience. This is where virtual reality (VR) technology comes into play, offering an exciting opportunity for real estate agents in Nigeria to streamline the property viewing process for their clients.
Tech Target defines virtual reality (VR) as a simulated 3D environment whereby anyone can explore and engage in an artificial environment using gadgets such as goggles and bodysuits in a way that imitates reality. VR has a ton of potential use cases that range from gaming to helping new recruits adapt to life in a virtual workspace to potential tenants exploring a studio apartment without being there in person.
One of the advantages of VR in property viewing is accessibility. Instead of planning a trip to the property’s location, one can simply visit as many as desired using a headset or goggles. Additionally, they can interact with the buildings, explore the rooms, and decide if it is a right match.
A virtual walkthrough of a property saves tenants time and money that would have been spent on viewing fees. The convenience of visiting a property virtually can not be overemphasised in a city like Lagos which is always plagued by traffic. Whether you are in Lagos or not, VR ensures that you can view a prospective apartment with ease.
Future tenants may prefer visiting an apartment in person before making a decision, rather than relying solely on images or videos, to get a true sense of the space. With virtual reality (VR), they can experience how the building looks in real life, gaining a better understanding of its size and design. Perhaps the current layout isn’t to their liking, or the kitchen isn’t spacious enough. VR helps highlight these flaws, allowing them to avoid making a regrettable financial commitment.
Real estate agents can also enrich the property viewing process by adopting virtual staging. This means they can virtually decorate a flat with furniture, paintings, and more, giving prospective tenants a greater sense of realism. Tenants can also customise their experience by switching paint colors, furniture styles, and more. Despite the potential gains in introducing VR to Nigeria’s real estate market, some obstacles should be spotlighted.
One of those hurdles is the prohibitive cost of VR equipment. Since the goggles and headsets cost a ton to acquire, it explains why the innovation is still unfamiliar in this part of the world. Digital illiteracy is another major issue in VR adoption as you need to understand the value of something before going ahead to use it.
Many real estate agents are unaware that VR can be used for property viewings, let alone enhance the experience. Additionally, VR-powered property viewings require powerful computers and a stable internet connection. Unfortunately, high-end PCs are costly, and Nigeria’s internet connectivity is often unreliable.
VR technology has the potential to transform the real estate market by allowing prospective tenants to explore properties without needing to be there in person. It is a time-saving and cost-effective solution that can help match people with housing options that best meet their needs.
However, mass adoption of VR technology will depend on how willing agents are to embrace change and learn about its benefits. While Nigeria may still be far from resolving its housing crisis, VR technology can significantly improve the house-hunting experience by making it more convenient for clients.
Michael Akuchie is a tech journalist with four years of experience covering cybersecurity, AI, automotive trends, and startups. He reads human-angle stories in his spare time. He’s on X (fka Twitter) as @Michael_Akuchie & michael_akuchie on Instagram.
Cover photo credit: Taanga Studios