Last Updated on October 24, 2023 by Steve Randall
Putting people’s health at the centre of design, creation and redevelopment is the next frontier of real estate according to a new global report.
The Global Wellness Institute has analyzed the global market for wellness lifestyle communities and says that there is high demand for healthy homes, with the global market growing at 6% annually.
Canada ranks in the top 10 markets for wellness real estate market size; 9th with a U$2.2 billion market. It also ranks 6th for projects in the pipeline (17). The US leads with a U$52.5 billion market size and 355 projects.
“Collectively, we must shake up our thinking: healthy homes are as important as immunizations; parks, paths, and plants are as beneficial as prescriptions; friends and neighbors are far more important than Fitbits,” said Katherine Johnston GWI Sr. Research Fellow. “All the industries that create our home environments – real estate investors, urban planners/designers, architects, transportation planners, the construction industry – play a massive role in human health. And they need to partner to meet the desperate need – and fast-rising demand – for healthier homes and communities.”
The trends for the wellness real estate market’s future GWI sees include: a blurring of the lines between home, work and leisure; making healthy homes more affordable; and increasing multigenerational and diverse neighbourhoods.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
