Influence of Virtual Reality (VR) Experience on Customer Purchase Intention in the Real Estate Industry of Pakistan

Abstract

Property technology has introduced the real estate sector to new opportunities, such as the use of virtual reality (VR) technologies by real estate agents for property marketing purposes. Virtual reality will enable a global network of linked digital environments that will integrate commercial activities, commerce, education, entertainment, and social interactions. This study uses data from239 potential buyers to examine how the virtual reality experience (VRE) affects Pakistan-Islamabad real estate buyers; buying intentions. Moderation and mediation effects are analyzed using SPSS PROCESS model 5 and hypothetico-deductive reasoning. This research examines consumer behaviour, cognitive states, personal innovativeness, and VR technology experience. The findings show that virtual reality (VR) improves buyers; property visualization, which increases their purchase intentions. These results imply that real estate VR technology meets and may improve customer expectations and purchasing intentions. The moderate hypothesis that personal innovativeness has no statistically significant impact is rejected since it hardly appears. VR should be combined with other novel technologies and examined for its long-term implications on customer purchase intention to ensure effective marketing.