Art Is The Newest Luxury Real Estate Trend
Real estate trends change every year. As our world continues to modernize and our culture continues to advance, we notice the spaces that we find on the market are doing the same. Luxury real estate is an industry that constantly needs to be up to par with what’s considered new and exciting in the eyes of society.
So for 2020, what’s the trend? What’s keeping luxury clients engaged and ready to invest in future properties? For Miami, the answer is art. Miami has become a major hub for artwork and culture within the past few years — after all, they already are known for their annual Art Basel festival, which is one of the most attended and prestigious art fairs in the United States.
2000 Ocean is one of Miami’s newest and most talked about luxury real estate developments to come out of 2019. The luxury high rise apartments are priced anywhere between $2 million to $9 million and were developed by KAR properties, one of the most notable real estate firms in the US today. Shahab Karmely is the CEO of KAR, and recently discussed 2000 Ocean and KAR’s new art curator program that they plan on implementing into their luxury properties in the new year.
“It [the art curating program] is part of our lifestyle services offerings. Art is part of mainstream culture today and Miami is at the center. Today incorporating lifestyle factors including professionally managed art programs are necessities if you want to be in the true luxury sector,” Karmely explained.
Art has often been a symbol of sophistication and culture. The simplest piece can be representational of any worldly issue or personal journey; it’s completely subjective, which is the beauty of it. Every person can interpret a piece differently, and inviting that energy into the home, one of open conversation and understanding over the creative process, is exactly what’s on trend right now.
In a time full of disagreement and argument, politically, our world has grown to be a battle, a constant back and forth in terms of opinions. As such, adding something like art into the home that can promote a positive difference of opinions is what real estate developers want to accomplish.
For 2000 Ocean specifically, Art Curator Megan Kincaid is leading the effort for the new luxury apartment properties. According to Karmely, Kincaid was hired as an expert who can offer education to clients and provide them with an understanding of what it is to have beautiful art in these luxury properties.
“[Kincaid] will organize exhibitions of modern and contemporary art for residents, curate rotating shows, lectures, and art-inspired events. Personal art exhibition outings around Miami are offered. The program is meant to enhance living through art in your home and Miami. To enjoy art, you need knowledge and appreciation. We will overcome that by educating homebuyers who may have felt art was not for them,” Karmely said.
When it comes to “staging” a luxury property, showing it with an art piece as the focus of a particular space in that property is a marketing strategy that’s been used for years. Staging in general shows clients what a home could look like if they were to move in. When it comes to luxury properties, the goal is to not only give the space a “home-y” feel, but also an extravagant one. Art tends to always make a space feel more luxurious, as it’s mainly found in museums or in the homes of the extremely wealthy depending on the piece, so when it becomes the focal point of a room, it gives off that same effect.
Miami is kickstarting one of 2020’s first of many real estate trends. It will be interesting to see how art in the home develops and expands throughout every tier of real estate and how the market reacts. For now, only time will tell.
Eric Mastrota is a Contributing Editor at The National Digest based in New York. A graduate of SUNY New Paltz, he reports on world news, culture, and lifestyle. You can reach him at eric.mastrota@thenationaldigest.com.