Application of Metaverse in the Real Estate Industry

This paper employs a methodological approach to investigate the feasibility of using the metaverse in the real estate industry and examine the possible challenges in its application. The researchers administered a questionnaire survey among experts from relevant fields, including architects, real estate appraisers, developers, and information technology specialists, and analyzed the data using descriptive analysis and the relative importance index (RII). This paper presents findings concerning the most significant metaverse applications in real estate, such as building virtual smart cities, designing detailed interiors and exteriors of property structures, and providing new social spaces for prospective buyers to meet and communicate with sellers and agents. The primary challenges in applying the metaverse include risks of user behavior privacy leakage, latency problems that affect user experience, and ethical and moral challenges, such as the publication of false materials and violation of intellectual property rights. Since the context of this research is specific to the Malaysian real estate industry, more in-depth investigations are essential to understand its broader implications. This study provides an initial understanding of the metaverse’s application and feasibility in the real estate industry. Given the urgency to adapt to rapidly changing technology, identifying the applications and challenges of utilizing the metaverse in the real estate industry has become a priority. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2025.