The wellness zeitgeist has been permeating our culture during the past decade. People run around the world in search of wellness practices. At home, they spend spend thousands of dollars a year on SoulCycle and smoothies. Yet, what has been largely overlooked as the movement has exploded is the wellness of one's physical home and the neighborhood that surrounds it.
As most of us have been spending 24/7 inside for the last few months, the realization that home is where the health is has become a reality. Suddenly, there is an understanding that the home environment itself should be healthy and healing, from the quality of the air to the availability of sunlight to the materials used in construction. And, as we take short jaunts around our neighborhoods, we are increasingly appreciating the lure of outdoor features like tree canopy, green spaces, water and walking trails.
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| A running trail in Emilia-Romagna's Wellness Valley Courtesy: Technogym |
It's not surprising, then, that many experts predict that this pandemic will change the way people choose to live. Even before COVID, there were studies indicating that lifestyle and environmental factors account for nearly 85 percent of one's health outcomes. It's not a coincidence that during the lockdown, there’s been almost a primordial urge to return to arcadia, in the form of countryside, coastline or mountains. At the same time, though, in isolation, people are realizing the importance of IRL connection and community.
That is why wellness real estate is set to experience its moment. The wellness real estate sector was already in a nascent state pre-COVID. But post-pandemic, the trend toward buying healthy homes and real estate in wellness communities will grow as more people take into consideration how their living environments support their physical, mental and emotional state of being.
The Global Wellness Institute has been watching this trend develop over the past decade. According to Build Well to Live Well: Wellness Lifestyle Real Estate and Communities, wellness real estate was a $134 billion worldwide industry in 2017, and, at the time of the report, was expected to grow to $180 billion in 2022. Given that pandemic, expect that number to top $200 billion.
There are several important features of the communities that are actually walking the wellness walk. They include the use of natural and no-VOC materials in construction; the incorporation of biophilic elements in design, and an abundance of unprogrammed outdoor spaces (that means no golf courses and concrete-covered playground areas). A focus on community-building and social connection is another vital element of a true wellness neighborhood, one that is often overlooked by companies that are trying to glom on to the trend without really understanding the importance and the nuances of a holistic approach. This could result, for example, in larger front porches, smaller front yards and more communal spaces.
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