The Global Wellness Institute (GWI), a leading nonprofit and research organization for the wellness industry, has revealed new data on the extraordinary recent growth of the wellness real estate market.
From 2017 to 2020, the global market increased 22 percent on average, annually—growing from $148 billion in 2017 to $275 billion in 2020. Wellness residential projects also experienced a boom in the same three-way span, from 740 to more than 2,300 today.
“Just 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,” says GWI senior research fellow Ophelia Yeung. “The pandemic has driven the idea of ‘building for human health’ into the mainstream consumer consciousness, and the recent market growth far exceeded our predictions, as well as general economic growth trends.”
Wellness real estate is heavily concentrated in the North American, Asian-Pacific, and European markets, which each clocked exponential growth between 2017 and 2020. Seven countries—Australia, China, France, Germany, Japan, the UK, and the U.S.—account for 82 percent of the wellness real estate market, with China and the U.S. alone comprising nearly 60 percent. Full data of the top 20 markets does yield some standout growth, with Japan and Canada experiencing 360 and 240 percent growth in the three-year span, respectively. China, Denmark, Finland, France, Italy, the Netherlands, Norway, Singapore, Switzerland, the UK, and the U.S. each essentially doubled their markets.
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