A conceptual VirtuHome business model: transforming real estate with immersive technology for enhanced property experience and wellbeing

Syed Azli Idid, Syed Muhammad Afiq Idid and Abdul Karim, Muhammad Safwan and Ahmad Nadzri, Ahmad Adam Nadzeeran and Mohamad Fadil, Muhammad Hussaini and Ahmad Dahlan, Abdul Rahman (2025) A conceptual VirtuHome business model: transforming real estate with immersive technology for enhanced property experience and wellbeing. Journal of Information Systems and Digital Technologies, 7 (2). pp. 54-79. E-ISSN 2682-8790

PDF - Published Version Restricted to Repository staff only Download (3MB) | Request a copy

Abstract

This paper introduces VirtuHome, a conceptual business model that leverages VR (Virtual Reality) and AR (Augmented Reality) technologies to transform the real estate experience and wellbeing. VirtuHome offers a digital platform and mobile application that allows customer segment (CS) like home buyers and renters, real estate developers, and property investors to explore properties virtually, enhanced branding through technology and foresee the realtime market insight. The platform addresses the key challenges faced by these CS by providing features like immersive virtual tours, interactive AR home staging, and remote live consultations. The methodology applied in this project is the Design Thinking (DT), which involves understanding the CS needs through literature review, benchmarking similar business like iProperty, Property Guru, and interviews. This is followed by ideation, prototyping, and validation using business modeling tools such as the Business Model Canvas (BMC) and Value Proposition Canvas (VPC), Business Environmental Map (EM), and Strategy Canvas (SC) to establish the validated business model of VirtuHome. Key findings reveal the significant potential of VirtuHome in enhancing CS’s experiences and wellbeing to improve convenience; optimise costs, time, and energy; and support smarter property decision-makings. Future work includes expanding the platform's features with AI and analytics, and developing a comprehensive business plan based on the validated VirtuHome business model.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Virtual Reality (VR), Augmented Reality (AR), Real Estate, Immersive Virtual Tours, Design Thinking (DT), Business Model
Subjects:	T Technology > T Technology (General) > T55.4 Industrial engineering.Management engineering. > T58.6 Management information systems
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Information and Communication Technology > Department of Information System Kulliyyah of Information and Communication Technology > Department of Information System Kulliyyah of Information and Communication Technology Kulliyyah of Information and Communication Technology
Depositing User:	Ts. Abdul Rahman Ahmad Dahlan
Date Deposited:	03 Dec 2025 16:46
Last Modified:	03 Dec 2025 16:46
Queue Number:	2025-11-Q339
URI:	http://irep.iium.edu.my/id/eprint/124897

Actions (login required)

View Item