Property Development with art at their heart – How property developers integrate art within their development
Has it become a trend to increase the value of properties by integrating original artworks from growing international or local artists?
We did some research on the latest property developments in London and New York, since those two design hubs are the ones who lead upcoming to trends within the industry. Result was – that more and more property developers have started to collaborate with art galleries and art consultants to create mesmerizing furnished estates for the high net worth clients.
…but what´s behind….Where artists gather, developers follow? Since the current art market has been growing rapidly over the last five years – client´s expect to not only purchase properties who are furnished, clients who are willing to purches luxury estates are expecting to find properties with a difference. In this case the artworks, that are not only integrated within the interior concept but also adds value to the property market value.
Therefore, property developers start to collaborate with those who can assist them with adding original and unique art in those properties from contemporary artists. Once the property has been furnished, some even host and event which provides for both firms the opportunity to sell the property easier when hosting an exclusive event, which is a more subtle way of marketing lofts than before. Since today, people who buy these expensive properties are most of the time those who own incredible art collections, which have been collected over years.
Of course you can´t argue that every property development firm hosts events in order to sell the property. The ones who are working this way, require a good team of interior designers and art consultants in order to select pieces which speak to the overall atmosphere of the property, only if the harmony is given, art collectors will be interested in your loft.
Why did property developers start to actually integrate contemporary art within their properties? First the cultural aspect has to be considered followed by growing enthusiasm for contemporary art. It helps people to feel well in their property and make them take pride in where they live.
Since you can´t catch the feeling of art right away, even when visiting a museum. It´s the way you live with art – art in your property is YOUR personal statement, it is a difference, when you fully integrate artworks into the domestic life of a collector and combine it with interior design. The integrated artwork expresses the characters of the collectors and reflect their own feelings about it. Every artwork in each property has an own story to tell.