Global Wellness Institute has released new research that states there will be substantial growth in the wellness real estate market. The market has seen almost 100% growth from 2017 at $148 billion to $275 billion in 2020. The number of wellness-focused residential projects have also increased three-fold from 740 in 2017 to more than 2,300 in 2021.
During the pandemic period from 2019-2020, the industry experienced further growth, increasing more than 22% in spite of the overall construction sector seeing a decline by -2.5%.
All the top 20 national markets for wellness real estate show a huge 3-year growth, with Japan at 360% growth and Canada at 240% growth. The other strong contenders were US, China, UK, Norway, Italy, France, Netherlands, Denmark, and Finland all of which have doubled their growth figures.
This shows that wellness real estate is fast moving from being elective to an essential part of real estate on new consumer demand.