Signature architecture and its impact on the real estate sector

Generally speaking, it can be said that the architect's hand has a direct effect on the design and improvement of a property's qualities. But how much more is a flat with pedigree worth? To find out, we first need to find out which ones do and which ones do not.

What is signature architecture?

My hypothesis is that in the real estate market a buyer is willing to pay a higher price for a property simply because it has been designed by a particular architect. Depending on the prestige of the architect, these prices increase the market value of the property.

Signature architecture is understood as architecture designed by architects or architectural firms with a certain background and recognition.

Nowadays, the concept of "auteur" has become linked to the phenomenon of what are known as star architectsprofessionals, recurring professionals in majestic projects of high urban involvement, where design is the main focus. leitmotiv.

How many types of signature architecture are there?

Let's start with the fact that these are residential buildings with a set of qualities that make them extremely attractive visually. Normally these properties belong to established architects who, with their good work, provide added value. In Barcelona, we find examples from all the glorious periods of local architecture: Modernisme, the Modern Movement, the most subversive and utopian architecture of the sixties and seventies, all the examples built by the famous generation of the eighties who were the architects of the residential experiments of the Olympic city and some examples of the younger generations of the last decade.

If we try to classify these architectures, we can do so in four main groups:

1.- Classic or royal estates (important to distinguish what is and what is not a royal estate). Architectures of past generations. Although many of their authors are unknown, they have the added value of exclusivity. It includes from Jujol to an unknown master builder with good taste.

2.- Buildings with a more serial character, carried out by large developers with a background in construction.. In most of them, the name of the developer is above the name of the architect. This type of property guarantees medium-high quality and comfort and therefore adds value in the form of security.

3.- Isolated developments where a good balance was found in the developer-architect-client triangle.. Its value lies in affection and brand pride.
Public housing, which, given the limited economic resources available, is a showcase for its greater experimental value.

 What is not signature architecture?

We will assume here that these are anonymous architectures with no other intention than to serve the business interests of a developer, whether public or private, and which, of course, make up the vast majority of the estates. In Barcelona, most of them were built during the migratory flows suffered by the city, that is, from the 1940s to the 1970s, periods of economic conservationism.

What value does signature architecture bring to the real estate sector?

In reality, in order to understand the added value of architecture in the real estate sector, we must carry out the imaginary exercise of putting two properties with similar characteristics in the ring. For the fight to be on equal terms, their characteristics must be identical, such as being located on the same street, proximity to public transport, whether or not they have a lift, communal services, the amount of sunlight they receive, noise, qualities and, of course, their distribution. This is very difficult...

For this reason, and even though it is becoming increasingly clear that it is difficult to determine the impact of signature architecture on the real estate sector, I am going to jump into the pool: According to the doctoral thesis "The impact of signature architecture on real estate values". from Àxel LegaresIn the case of a property for sale, the "signature" label can increase its price by 10%, and in the rental market it can even go up by 5 points. In this study, it is also confirmed that in low to medium price products the difference is smaller while in luxury flats its value grows exponentially.

Should I buy a flat with signature architecture?

If you are thinking of buying a property, opting for one with a name and surname is probably a wise decision. However, you should bear in mind the following factors that will affect both buyers and sellers of a pedigree property:

ADVANTAGES:

• Composition and spatial richness, such as double and triple heights, visual connections, lines that move away from the right angle, filtering of light...
• Suitability of materials, durability and maintenance.
• Sustainability and efficiency of installations and passive systems, leading to substantial savings over time.
• Aesthetics and fashion. Although it is subjective and very personal, it is linked to the exclusivity of the product, therefore, a rising value.
• Prestige or popularity, probably the component that most affects its valuation.

DISADVANTAGES:

• High community fees. These estates usually have generous communal areas and even security personnel or a doorman.
• In the case of wanting to carry out reforms or improvements to the property, it is important to be aware that there are limitations and longer waiting times for licences because they are usually protected areas due to cataloguing.
• Hordes of camera-wielding tourists eager to take #archipics with no regard for the privacy of their neighbours.
• In the worst case scenario, if your house is considered a masterpiece, it is possible that your heirs will not be able to live in it and it will become a house-museum. Of course, there are exceptions, remember the recent controversy over the demolition of Alejandro de la Sota's Guzmán house.

I hope these tips will be useful if you are thinking of buying or selling a house with a special charm in its design. If you want to see a good sample of them, don't forget to visit our section Domestic showcase of the website.  

How much more is a flat with pedigree worth? In this post we analyse what signature architecture is and how it impacts on the real estate sector. Important questions if you are considering buying a property with a name and surname.