Pandemic revs up wellness real estate trend


Image by Dimitras Vetskikas from Pixbay

According to the Global Wellness Institute (GWI), wellness real estate has grown into a thriving, comprehensive $134 billion global market, spanning all developments that intentionally put people’s health at the centre of design and creation.


Back in 2004, the Global Wellness Summit (GWS) trend forecasters predicted the rise of what they then called ‘spa real estate’. At that time, the word ‘wellness’ was still so new that it too was another trend identified that year. GWI made the provocative claim then that wellness was the next ‘trillion-dollar industry’. GWI regarded wellness real estate as the next frontier in real estate pre-COVID-19, and the pandemic has only supercharged consumer interest and sales. Say the GWI experts: “The long lockdown and the perma-trend of work from home has meant that we’ve been freshly interrogating our homes, and more people now understand the outsized impact that our built environment has on our physical and mental health. So more people want to live in spaces purpose-built for wellness: far more nature and sustainability, communities that ‘design in’ meaningful connections with others, developments that serve up lots of wellness programming, and homes that tackle hygiene and safety via architecture, working to create a pure, health-optimising ‘home biome’, whether through air and water purification or circadian lighting. "More real estate experts and developers are now arguing that, ‘wellness real estate is moving from elective to essential’. Lists of real estate and design trends coming out of COVID-19 agree that wellness in the home is one of the world mega-trends. Wellness real estate projects are reporting eye-opening sales (even during an intense economic downturn).”


As examples, more than half of Rancho La Puerta’s new The Residences were reserved with deposits by late September, before any shovel had broken ground. In addition, the soon-to-open Amrit Ocean Resort & Residences on Singer Island in Florida reported contracts were being signed at four a week.


For more information click here https://globalwellnessinstitute.org/

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