The wellness real estate market nearly doubled between 2017 and 2020, from $ 148 to $ 275 billion

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New research from the Global Wellness Institute finds the sector grew 22% in the pandemic year, while overall construction projects declined -2.5%; residential wellness projects have rapidly tripled, from 740 worldwide in 2017 to more than 2,300 today

MIAMI (PRWEB) September 28, 2021

The nonprofit Global Wellness Institute (GWI), the leading research organization for the wellness industry, today unveiled new data on the wellness real estate market, revealing extraordinary recent growth . From 2017 to 2020, the global market grew by 22% on average per year, from $ 148 billion in 2017 to $ 225 billion in 2019 to $ 275 billion in 2020. Residential wellness projects have exploded in those three short years, from 740 in 2017 to over 2,300 today. .

The market surged in the two years leading up to the pandemic (2017-2019): wellness real estate grew 23% each year compared to 5.4% growth for construction as a whole (and this disconnect is remained true for every region of the world). The new research also clearly shows that the pandemic has further fueled the shift in the real estate and construction sectors towards wellness: From 2019 to 2020, wellness real estate continued to grow by more than 22 years. %, even as overall construction fell by -2.5%.

The GWI was the first to define and measure this sector in its 2018 “Build Well to Live Well” report. The new report, “Wellness Real Estate: Looking Beyond COVID-19”, provides market data and growth rates for 2017-2019 and 2019-2020 (to capture the “pandemic effect”) for each region of the world and top 20 national markets – along with forecasting the key changes that will define the post-COVID market.

Research highlights were presented today in New York City at GWI’s Wellness Real Estate & Communities Symposium, the premier event bringing together investors, developers, architects, designers and medical experts to discuss the future. of this market. Learn more about access to the full day of presentations and research kit.

“Just three years ago, wellness real estate was a concept misunderstood by consumers, builders, developers or investors, but we predicted that demand would soon hit like a tsunami. This moment. has arrived, “said Ophelia Yeung, senior researcher at GWI. “The pandemic has brought the idea of ​​’building for human health’ into the general consciousness of consumers, and recent market growth has far exceeded our expectations, as well as general trends in economic growth.”

MAIN CONCLUSIONS

A Definition: The GWI defines wellness real estate as the construction of residential and commercial / institutional properties (including offices, hospitals, mixed / multi-family, medical and recreational uses) that incorporate elements of well-being. be intentional in their design, materials and construction, as well as their amenities, services and / or programming.

Huge market gains in the world:

The figures refer to: 1) market size 2020, 2) growth rate 2017-2019, 3) growth rate 2019-2020

North America: $ 118.5 billion, 29.5%, 18%

Asia-Pacific: $ 98.7 billion, 18%, 27%

Europe: $ 56.2 billion, 19%, 22%

Middle East-North Africa: $ 800 million, 9%, 10%

Latin America-Caribbean: $ 600 million, 26%, 13%

Sub-Saharan Africa: $ 300 million, 36%, 5%

Wellness real estate is heavily concentrated in North America, Asia-Pacific and Europe, and each market has seen exponential recent growth, with the North American and Asian markets virtually doubling between 2017 and 2020.

Top 10 countries for wellness real estate:

The figures refer to: 1) market size 2020, 2) growth rate 2017-2019, 3) growth rate 2019-2020

United States: $ 110.6 billion, 28%, 17%

China: $ 51.5 billion, 17%, 39%

Australia: $ 16.5 billion, 13%, 6%

UK: $ 14.8 billion, 14%, 37%

Japan: $ 11.5 billion, 73%, 51%

France: $ 11.2 billion, 25%, 18%

Germany: $ 9.8 billion, 15%, 13%

Canada: $ 7.8 billion, 61%, 33%

South Korea: $ 6.2 billion, 11%, 19%

India: $ 5.3 billion, 12%, 6%

Seven countries – the US, China, Australia, UK, Japan, France and Germany – account for 82% of the wellness real estate market; the United States and China alone account for about 60%. But comprehensive data on the top 20 markets reveals striking 2017-2020 growth across the board. Japan (360% growth) and Canada (240% growth) stand out, while the United States, China, United Kingdom, France, Netherlands, Denmark, Switzerland , Singapore, Norway, Italy and Finland have practically doubled their markets.

An explosive and more diversified pipeline:

While the GWI identified 740 residential wellness projects in 2018, the sector has since grown so quickly that there are too many projects to be properly counted. Today, the GWI estimates that there are over 2,300 wellness projects around the world (built, partially built or under development). Well-being life concepts are developed in all types of residential projects: communities with a master plan; multi-family projects (apartments, condominiums); urban neighborhoods and mixed projects; wellness real estate in resorts / spas / hotels; affordable / subsidized housing; and other well-being concepts based on eco-communities, co-living, senior living, etc., taking an increasingly dizzying number of “feel-good angles”.

“So many macroeconomic forces – our rapidly aging world, our crises of stress and loneliness, the rise of remote working, a consumer demanding a more sustainable lifestyle – mean that the growth trajectory of wellness homes and of building design will only increase, “said Katherine Johnston, Senior Research Fellow GWI. “But COVID-19 has forced us to see our homes and our built environment in a radically new light, as protectors and enablers of our health and well-being. elective to essential. “

About the Global Wellness Institute: The Global Wellness Institute (GWI), a 501 (c) (3) nonprofit, is considered the leading global research and education resource for the global wellness industry. be and is known for introducing major industry initiatives and regional events that bring leaders together 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 improve overall quality of life. Its mission is to promote well-being around the world.

For the original version on PRWeb, visit: https://www.prweb.com/releases/wellness_real_estate_market_nearly_doubles_from_2017_2020_jumping_from_148_to_275_billion/prweb18222317.htm


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