Culture is “the concepts, customs, beliefs and social behaviours of a particular nation or society. Culture is transmitted, through language, material objects, ritual, institutions, and art, from one generation to the next”. There is a blurred line between Culture and Heritage. From a global perspective, heritage can be seen as an important site or monument, or it can be conceptualized more personally from the perspective of cultural connections and traditions. Culture means patterns of beliefs, attitudes, values, and behaviours of a particular society while heritage is what the past has conceded to us.
The dictionary defines art as “the conscious use of skill and creative imagination, especially in the production of aesthetic objects”. Art is a form of creativity where ideas are expressed in the form of literature, visual arts and performing arts. Through artwork, we can preserve our culture. Painting, sculpture, architecture, music, theatre, film, dance and other artworks are preserved to enhance its memory in future.
The current architectural environment appears to lack any presence of culture and heritage elements in designing a residential real estate.
Art and culture are the newest real estate trend. It becomes the positioning and brand identity of the city. It is an international value asset for city rebranding and repositioning.
Well-positioned art can be marketing gold
When you go to see five to six properties a day, what is going to stand out? How can the real estate different from others? The most popular method is to align real estate with the artwork. Art is no longer an afterthought in real estate. It has become an essential part of the design process.
“Art enhances residential experience in many ways. Real estate itself is very experiential, as is Art. Good design influences people in a myriad of ways, both emotionally and through the physicality of reacting to it. When you look at Art, you react to a piece of art. It is also a critical component of real estate. If you can combine the two into one, they can have an interesting interplay amongst each other. In most locations, this plays well. If you can tie in the art experience to the project or an event, it is exponentially beneficial” said by CEO of DDG, a Manhattan real estate development and investment firm.
The innovative design of buildings can promote real estate sales and help support the company’s brand and commercial value.
Successful stories of integrating culture and art into real estate development
One of the Chinese real estate company has successfully integrated Chinese culture and Art into real estate development. The company initiated a series of projects called “Taihe Yard Products”, which created a ‘Chinese-style luxury living’ by bringing together traditional Chinese architectural design with modern amenities through an urban living and diversified development strategy.
The developer ingeniously innovated evocative and modern designs, such as drum-shaped bearing stone, plaque, traditional style hollow window etc. to achieve a delicate balance that can attract Chinese consumers. Drum stone is the key element of the courtyard gate, highlighting the luxury of a wealthy family. It carved from the finest white marble and its shape is taken from the former residences of celebrities including Prince Gong’s residence. The drum stones in each yard are different. Each Tahoe yard has a private plaque, usually customized according to the surname, hobbies and identity of the residents. The company chooses and matches flowers and trees in different ways to create a unique theme in each Taihe courtyard garden.
“Taihe Yard” first series launched in 2013. In just 9 months, the sales revenue of the company has reached 6.12 billion Yuan, which around USD $8.74 Billion. This strategy has increased the company’s revenue by 57%. Tahoe Yard ranked first in the sales of Chinese villa market for two consecutive years.


In Chicago, Vista Tower, the city’s third tallest building, will be open at the end of 2020 and is expected to be the pinnacle of luxury living in the city. Each unit in Vista Towers costs between $1 million and $17 million. In order to attract buyers, the developer has introduced art-related amenities, for example, each unit will be sold together with artworks from Chicago’s top galleries and artists. This is because they recognize that in addition to iconic architectural designs, high-quality artworks are also attractive to potential homeowners. “Our buyers tend to be supporters and connoisseurs of the fine arts”, said by the Vista Tower’s developer chief marketing officer. Thus, art is the new must-have amenity for real-estate developers nowadays.
Recently Street Art has been proved that it can change the economic conditions of urban neighbourhoods
The history of street art originated from illegal paintings on public and private property surfaces (such as building facades, highway overpasses, and sidewalks). In the 1960s, street art emerged as one of the modern art forms and became a global culture. The works of street artists can be found in some art museums and galleries, such as Rembrandt House Museum, Amsterdam Street Art Museum, etc. People have extreme views on street art. Some people think this is a crime, some people think it is a very beautiful new cultural form.
In recent years, street art proved the capacity to revalue and regenerate degraded areas and buildings, as well as its influence on real estate market values. Neighbourhoods that have a higher proportion of urban Art such as murals, outdoor sculptures or even local art events, have experienced the increase of the market value.
The presence of street art may signal the improvement of the neighbourhood, causing a feedback loop effect when it comes to driving up demand for the area. Urban Art provides a precise feel within a neighbourhood but also attracts more people and businesses to the location. Arty areas attract more cafes and restaurants that in turn, attract the art-loving crowd to move in.
For example, The Street Art phenomenon in the city of Turin in Italy has contributed to an increase in property values of 25% to 30% in four years period.

In Chelsea, New York, a building which exhibits two murals of Brazilian artist Eduardo Kobra painted in 2012, recorded an increase in the market value of $880,000 to $2,075,000. Media reports pointed out that on the streets of New York, real estate prices rose by 10% to 15% due to the influence of “street writers.”

In short, urbanization processes have generated metropolitan areas with heterogeneous urban systems. It is increasingly recognized that Art and culture can represent an added value to city development. They can contribute to the aesthetic and ethical enrichment of the urban places, thanks to its extraordinary communicative power.

Kuala Lumpur
Written by Sue Thin, Analyst at 27 Advisory. She is grateful to have a beach backyard to call home. Apart from appreciating nature, she is interested in everything related to fundamental & technical analysis and value investing.
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