The global wellness real estate market is booming in the US and the UK, with no plans to slow down in the coming decade. According to Deleware-based global market research company Transparency Market Research Inc., interest in sustainability, the environment, and health consciousness have led to the international wellness real estate market’s projected rise to USD 2,034.1 in the next decade.
As a result, urban wellness development and luxury residences are on the rise, with a focus on eco-friendly projects.
In 2023, the global wellness real estate market was worth USD 438.3 billion. The expected increase in 2034 would mark a compound annual growth rate reaching 14.8% in just ten years between 2024 and 2034. If these numbers pan out, that’s over four times the current market.
Consumers’ Focus on Holistic Wellness Is Driving the Increasing Numbers
As holistic wellness consciousness rises, consumers are looking for properties that center on physical, mental, and environmental wellness. Some of those key components include eco-friendly designs, systems centering on air and water purification, and properties that allow people to connect with the nature around them. With these shifting priorities, modern living and commercial spaces that meet these qualifications will likely provide significant financial opportunities for industry stakeholders.
Consumers Recognize the Link Between Living Environments and Health
The rising understanding of how living environments impact physical and emotional health has revitalized this industry. Consumer demand has the power to change standards, and developers are getting on board to provide designs that embody holistic living options that are energy-efficient and eco-friendly.
Some improvements include improving air quality, installing passive ventilation systems, and lessening toxins. Creating natural lighting, green spaces, and utilizing organic materials in these designs helps developers achieve these goals.
The Main Developers Jumping on Board the Global Wellness Real Estate Market
As real estate demands shift to global wellness, there are several companies to look out for. Delos Living is one such company that has been helming this eco-friendly real estate pivot in both residential and commercial markets. The company’s partnership with health and tech brands centers on air purification and circadian lighting.
Another major player in the industry is Welltower Inc. The brand focuses on senior living and healthcare-focused living spaces. Welltower Inc. is partnering with a healthcare provider for senior living properties that hinge on health and wellness.
The Related Companies brand is a luxury wellness company shifting toward eco-friendly designs in residential and mixed-use properties. Related Companies is working on a New York City-based project aligning with biophilic designs, energy efficiency, and community spaces prioritizing mental wellness and nature.
Other companies include Brookfield Properties, WSP Local Turner Construction, Kier Group, Skanska, WSP Global, Godrej Properties, BAM Construct, Prestige Group, and Oberoi Realty.
The real estate offerings leading global wellness innovations include residential spaces like luxury wellness residences and affordable wellness options. The commercial options include wellness-focused hotels, retreats, workspaces, and mixed-use developments.
Regions Embracing Global Wellness Properties the Most
North America is one of the central regions offering wellness real estate, primarily with urban wellness residencies and commercial properties. Europe is another rising area with sustainable and eco-friendly options, particularly in commercial real estate. Meanwhile, Asia Pacific, South America, the Middle East, and Africa also jumped on this trend.
Consumers should expect these markets to continue growing in more regions and expanding offerings to a broader range of property types. While there are still challenges, the real estate market continues to grow across the world. The global wellness market is seeing a particular boom as people lean toward more sustainable, health-conscious properties.
