Photo: Ophelia Yeung and Katherine Johnston were the senior researchers on the project
The GWI’s much anticipated Build Well to Live Well report estimates the global wellness real estate market was worth US$134bn in 2017 and predicts it will grow six per cent a year, to US$180bn by 2022.
The report defines wellness real estate and communities as facilities that ‘intentionally put people’s health at the centre of design, creation and redevelopment’. It found that real estate and communities that have a health and wellness centric design are the next frontier in residential real estate. The US is the largest market, followed by China, Australia and the UK.
Katherine Johnston, GWI senior research fellow, and one of the senior researchers on the report, says: “Collectively, we must shake-up our thinking: healthy homes are as important as immunisations; parks, paths, and plants are as beneficial as prescriptions; friends and neighbours are far more important than Fitbits.”
The report found wellness real estate has grown 6.4 per cent annually since 2015. The GWI estimates that there are 740 projects that meet the criteria for wellness real estate in the pipeline worldwide, and that emerging wellness living concepts will drive future development.
Seven key trends that will shape this market’s future are also identified, from new developments that blur the line between home, work, spa and wellness to the rise of multigenerational, affordable wellness communities.
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