{"id":25913,"date":"2021-09-27T15:40:18","date_gmt":"2021-09-27T19:40:18","guid":{"rendered":"https:\/\/globalwellnessinstitute.org\/?page_id=25913"},"modified":"2024-12-10T16:24:17","modified_gmt":"2024-12-10T21:24:17","slug":"wellness-real-estate-market","status":"publish","type":"page","link":"https:\/\/globalwellnessinstitute.org\/press-room\/press-releases\/wellness-real-estate-market\/","title":{"rendered":"Wellness Real Estate Market Nearly Doubles from 2017-2020\u2013Jumping from $148 to $275 Billion"},"content":{"rendered":"

Media Contact: Beth McGroarty
\nbeth.mcgroarty@globalwellnessinstitute.org<\/a>\u00a0\u2022 +1.213.300.0107<\/p>\n

Wellness Real Estate Market Nearly Doubles from 2017-2020\u2013Jumping from $148 to $275 Billion<\/strong><\/h3>\n

New Global Wellness Institute research reveals sector grew 22% during pandemic year, while overall construction projects shrank -2.5%; wellness residential projects have quickly tripled, from 740 worldwide in 2017 to over 2,300 today<\/em><\/p>\n

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Miami, FL \u2013 September 28, 2021 <\/strong> \u2013 The nonprofit Global Wellness Institute (GWI), the leading research organization for the wellness industry, today unveiled new data for the wellness real estate market revealing extraordinary recent growth. From 2017-2020, the global market grew 22% on average annually, expanding from $148 billion in 2017 to $225 billion in 2019 to $275 billion in 2020. Wellness residential projects skyrocketed in those three short years, from 740 in 2017 to over 2,300 today.<\/p>\n

The market surged in the two years before the pandemic (2017-2019): Wellness real estate grew 23% each year compared with 5.4% growth for construction overall (and this disconnect remained true for every global region). The new research also makes it clear the pandemic further fueled the shift in the real estate and construction industries toward wellness: from 2019-2020, wellness real estate continued to grow by over 22%, even as overall construction shrank by -2.5%.<\/p>\n

The GWI was first to define and measure this sector in its 2018 \u201cBuild Well to Live Well<\/a>\u201d report. The new report, \u201cWellness Real Estate: Looking Beyond COVID-19,\u201d provides market data and growth rates for both 2017-2019 and 2019-2020 (to capture \u201cthe pandemic effect\u201d) for every global region and the top 20 national markets\u2014as well as forecasting key shifts that will define the market post-COVID.<\/p>\n

Research highlights were presented at the GWI\u2019s Wellness Real Estate & Communities Symposium<\/a> today in NYC, the first event to bring together investors, developers, architects, designers and medical experts to discuss the future of this market. Learn more<\/strong><\/a> about accessing the full day of presentations and research package.<\/p>\n

\u201cJust three years ago, wellness real estate was a concept not well understood by consumers, builders, developers or investors, but we predicted demand would soon hit like a tsunami. That moment has arrived,\u201d said Ophelia Yeung, GWI senior research fellow. \u201cThe pandemic has driven the idea of \u2018building for human health\u2019 into the mainstream consumer consciousness, and the recent market growth far exceeded our predictions, as well as general economic growth trends.\u201d<\/p>\n

KEY FINDINGS <\/u><\/strong><\/p>\n

A Definition: <\/strong>The GWI defines wellness real estate as the construction of residential and commercial\/institutional properties (including office, hospital, mixed-use\/multifamily, medical and leisure) that incorporate intentional wellness elements in their design, materials and building, as well as their amenities, services and\/or programming.<\/p>\n

Huge Market Gains Worldwide:<\/strong><\/p>\n

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 <\/p>\n

Wellness real estate is heavily concentrated in North America, Asia-Pacific and Europe, and each market clocked exponential recent growth, with the North American and Asian markets essentially doubling from 2017-2020.<\/p>\n

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Seven countries\u2014the US, China, Australia, UK, Japan, France and Germany\u2014account for 82% of the wellness real estate market; the US and China alone comprise roughly 60%. But the full data on the top 20 markets reveals striking 2017-2020 growth across the board. Japan (360% growth) and Canada (240% growth) are standouts, while the US, China, UK, France, Netherlands, Denmark, Switzerland, Singapore, Norway, Italy and Finland essentially doubled their markets.<\/p>\n

An Exploding, More Diverse Pipeline:<\/strong><\/p>\n

If the GWI identified 740 wellness residential projects in 2018, the sector has since grown so fast that the projects are too numerous to properly count. Today, the GWI conservatively estimates that there are over 2,300 wellness projects worldwide (either built, partially built, or in development). Wellness living concepts are being developed in all types of residential projects: master-planned communities; multifamily projects (apartments, condominiums); urban districts and mixed-use projects; resort\/spa\/hospitality-based wellness real estate; affordable\/subsidized housing; and other wellness concepts based on eco-communities, co-living, senior living, and more\u00ad\u2014taking an increasingly dizzying number of \u201cwellness angles.\u201d<\/p>\n

\u201cSo many macro forces\u2014our fast-aging world, our stress and loneliness crises, the rise of remote work, a consumer demanding more sustainable living\u2014means the growth trajectory for wellness homes and building design will only rise,\u201d said Katherine Johnston, GWI senior research fellow. \u201cBut COVID-19 forced us to see our homes and built environment in a radically new light, as the protectors and enablers of our very health and wellbeing. Wellness real estate is now quickly moving from elective to essential.\u201d<\/p>\n

 <\/p>\n

About the Global Wellness Institute<\/strong>: The\u00a0Global Wellness Institute<\/a>\u00a0(GWI), a nonprofit 501(c)(3), is considered the leading global research and educational resource for the global wellness industry and is known for introducing major industry initiatives and regional events that bring together leaders to chart the future. GWI positively impacts global health and wellness by educating public institutions, businesses and individuals on how they can work to prevent disease, reduce stress and enhance the overall quality of life. Its mission is to empower wellness worldwide.<\/p>\n

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 <\/p>\n ","protected":false},"excerpt":{"rendered":"

Media Contact: Beth McGroarty beth.mcgroarty@globalwellnessinstitute.org\u00a0\u2022 +1.213.300.0107 Wellness Real Estate Market Nearly Doubles from 2017-2020\u2013Jumping from $148 to $275 Billion New Global Wellness Institute research reveals sector grew 22% during pandemic year, while overall construction projects shrank -2.5%; wellness residential projects have quickly tripled, from 740 worldwide in 2017 to over 2,300 today Miami, FL \u2013 September 28, 2021 \u2013 The nonprofit Global Wellness Institute (GWI),… 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