Art & Real Estate: A Powerful Relationship
November 26, 2019
It’s no secret at Art + Artisans, we believe that art has the power to transform both the energy and value of a space. Aside from being aesthetically pleasing, new research has shown that the presence of creative and refreshing art is strongly linked to better performance in real estate sales.
In a recent feature, 6sqft explored the strong intersection of the art and real estate industries, explaining to readers the beneficial relationship the two fields share.
“More and more architects, developers, designers, and brokers believe in the powerful relationship between art and real estate. So much so, it is now understood that art sells real estate and real estate sells art,” the 6sqft article reads.
There is a strong overlap in prospective real estate buyers and those who appreciate fine art, and real estate developers are now capitalizing on this. New developers have even gone as far as including art galleries in their leasing offices to entice prospective residents and create a space that forces head turns.
“Organizations today want to connect to stakeholders in impactful ways. What creates that connection is different for everyone. It may be art that inspires awe and makes people wonder how it was done; or recognition of a familiar place that provides a link to others who share an experience,” says Art + Artisans founder and President, Jennifer Seay. “We’ve seen time after time that art helps real estate properties achieve success by providing meaningful connections to the people who use the space.”
Art has become an integral piece to the luxury buying experience. What was once thought of as a nice-to-have, is now a must-have for both buyers and developers. Prospective buyers want to feel connected to the spaces where they live, work, and play. Art has proved itself to be a successful way to establish that connection. Whether a sculpture or small painting, art is now a key factor in increasing the value of real estate properties.
Art can appeal to any space or demographic of client. A recent article from Architectural Digest reiterates the importance of recognizing this, stating that “projects at all price ranges can utilize art, and have, to market themselves successfully. From making direct appeals to art collectors…to embracing gallery partnerships and site-specific works as marketing tools, developers are tapping into buyers' desires for holistic living experiences, of which art is now often an expected part.”