Wellness real estate, once associated with upscale resorts in exotic locales, has transformed into a mainstream concept integrated into everyday living environments. This change is propelled by a heightened awareness of health and well-being, leading to a desire for living spaces that promote a balanced lifestyle.
In urban residential developments, there is a fusion of greenspaces, natural light, air quality management and wellness facilities such as fitness centers, yoga studios, meditation areas and spas featuring infrared saunas, cold plunge pools and salt rooms. Conversely, suburban communities are creating properties with walking trails, community gardens and recreational spaces to encourage physical activity and social engagement.
Certification standards such as Well Building Standard and Fitwel are gaining popularity, with developers striving to meet specific criteria. These standards focus on aspects such as air quality, water quality, nutrition, lighting, physical activity, comfort and mental well-being to ensure that buildings positively contribute to residents' health.
Mixed-use developments combine residential, commercial and recreational spaces to establish environments where residents can live, work and socialize without long commutes. These developments often feature communal areas, wellness centres, retail outlets and dining options. Today, developers are creating mixed-use sites that foster community interaction, reduce isolation and enhance mental well-being. Initiatives include community centres, shared gardens and organized social events.
Urban revitalization efforts emphasize biophilic design and proximity to parks, natural surroundings and water bodies to boost mental and physical well-being.
So, what does this look like for us in the building and land development industry? I asked a friend and founder of SQ2, Serena Quaglia. “The double-digit annual growth rate in the $5.8 trillion wellness economy says, post pandemic, we want to live (and feel) our best lives in all dimensions of wellness, including physical, mental, emotional, financial, occupational, spiritual, social/ community and environmental facets of well-being.”
By integrating these elements, wellness real estate is now accessible in everyday living spaces, allowing more individuals to enjoy wellness-focused living regardless of their location. The enhancement of wellness amenities for the community resonates with the growing trend towards healthier and more sustainable lifestyles. It signifies a change in our understanding of how our living and working spaces contribute to our overall well-being.