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Property Value: Find out the seven benefits of Public Art

written by BAZ-ART
on the 22, May, 2023

Looking to add property value to your current property portfolio? Have you ever considered public art? There are many benefits to adding public art to properties and their surrounding areas. These seven benefits might surprise you, especially in areas of development where they can greatly enhance the overall appeal, community engagement and safety of your properties neighbourhood.

Reasons to use public art as a property value strategy

1. Enhanced Reputation: Property owners who embrace public art demonstrate a commitment to the community and its cultural enrichment. This can positively impact their reputation, positioning them as patrons of the arts and community supporters. Such a reputation can attract like-minded individuals and businesses, fostering beneficial connections and partnerships.

2. Increased Foot Traffic: Public art acts as a magnet, drawing people to specific locations. Property owners who invest in public art can expect an increase in foot traffic around their property, as people are naturally drawn to visually stimulating environments. This can lead to greater exposure for businesses and an opportunity to engage with potential customers.

3. Distinguishing Feature: In a crowded marketplace, properties with unique and eye-catching public art installations stand out from the competition. Such distinctive features can make a property more memorable, setting it apart from neighboring establishments and creating a sense of identity.

4. Community Engagement: Public art has the power to bring communities together. By providing a visually appealing and thought-provoking focal point, property owners can contribute to a sense of place and foster a greater sense of community pride. This can lead to increased community engagement, social interaction, and a more vibrant and cohesive neighborhood.

5. Marketing and Promotion Opportunities: Public art installations offer excellent opportunities for marketing and promotion. Property owners can leverage these installations to generate buzz, attract media attention, and promote their property or business. The unique visual appeal of public art can be utilized across various marketing channels, including social media, press releases, and local event listings.

6. Artistic Collaboration: Engaging with street artists or public art initiatives allows property owners to collaborate with talented and creative individuals. These collaborations can result in unique and compelling art installations that reflect the property owner’s vision while incorporating the artistic perspective of the creators. Such collaborations not only beautify the property but also contribute to a sense of cultural enrichment.

7. Potential Impact on Property Value: Public art has the potential to enhance the aesthetic appeal and desirability of a property. While it will not increase property prices, the presence of well-executed and thoughtfully placed public art can help create an attractive and engaging environment that may be appealing to certain individuals or businesses. However, it’s crucial to recognize that the relationship between public art and property values is complex and can vary depending on multiple factors.

It’s important to note that the benefits of public art for property owners extend beyond mere financial gains. By embracing and supporting public art, property owners contribute to the cultural fabric of their communities, fostering creativity, dialogue, and a greater sense of place.

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