Tell me, after reading enough about theoretical frameworks of wellness lifestyle real estate, wouldn’t you enjoy learning more about rather tangible worldwide trends and projects that could inspire you?
Since I am more into direct and practical real estate deal-making, the technical and theoretical stuff sometimes has a quite dusty feel to me.
From time to time, it’s nice to have the head in the clouds, but I prefer to have my feet on the ground.
Yes, it’s necessary to know theoretical frameworks in order to be able to apply them later on in the practical world.
That’s why I will present in the first part of today’s article an overview of the overall quantity of wellness lifestyle real estate projects worldwide.
In the second part I will show you the overall trends and related tangible projects, based on the research of the Global Wellness Institute.
The Number of Wellness Lifestyle Real Estate Projects World Wide
There are more than 740 projects across 34 countries worldwide.
North America is leading with 372 projects, followed by 293 projects in the Asia-Pacific Region.
In Europe, there are only 61 projects in the pipeline, in the Latin-America-Caribbean Region there are 12, and then there are 6 in the Sub-Saharan Africa and 5 in the Middle-East.
This is the short overview of the top 10 countries:
|Country||Number of Projects in the Pipeline|
7 Trends and Related Wellness Lifestyle Real Estate Projects
The largest part of the more than 740 projects consists of mixed-use developments, master-planned communities with a selection of facilities, design features and amenities enhancing wellness, followed by luxury amenities and urban high-rise projects.
Trend 1 – Combining Home, Work, and Free Time
Imagine how nice it would be not having to commute anymore.
And indeed, every day more and more people are able to work from home.
The beginning of this new form of working came from the internet freelancers, web workers, digital nomads and/or small business owners with business models relying heavily on the internet.
The initial small-scale movements in this space respond to this lifestyle and pioneer in the field of coworking.
One of them is the WeWork movement.
There is also a larger project planned near Dallas, Texas by Life Time.
It will provide a largescale Life Time Athletic Club, 300-400 Life Time Living apartments, and a Life Time Work coworking space.
This project is scheduled to open in 2019.
Trend 2 – Healthy homes not exclusively for people with “fat wallets”
“This wellness real estate thing is only for the rich”, you might think.
But, not so fast.
The Center for Active Design leads in the space of affordable housing projects across the United States bringing healthy homes and active design features into this space.
They’ve already partnered with developers like the Vitus Group, AvalonBay, and Blue Sea Development and several public housing and municipal authorities in cities such as New York City, Denver, and Seattle.
Since you find the highest risk for many health conditions within the lower income population, according to the GWI it is highly likely that there will be a growing number of incentives from governments to redesign affordable housing areas in a way that healthier behaviors are encouraged.
At first glance, you might think: ”Great, another government program sponsored by taxpayers.”
I hear you. I am not a big fan of a large government involvement either.
But if you think further, it might be economically sound since it will reduce the risk factors for chronic diseases and the related medical costs (e.g. Fannie Mae
Healthy Housing Rewards™ program.
Chronic diseases reduce overall productivity (job loss etc.) and thus tax income for local governments.
With this in mind, local governments will probably get more out of it than what they have to put in.
Trend 3 – Multigenerational and Diverse Neighborhoods
Another prediction comes from future wellness real estate projects responding to the mostly segregated neighborhoods by age group or functions.
A typical example of segregation by age group is young people living in cities and families in the suburbs.
Another one is the typical segregation of residential and commercial areas.
More and more people find this either boring or doubt if it is healthy in the long run.
The response and likely future trend will be communities where people of different ages, social classes, and backgrounds live as neighbors.
Trend 4 – Combining the Medical Industry (Health Services) with Wellness Communities
There is a small quantity of mixed-use projects that experiment with combining the biomedicine, health, and wellness industry with a residential real estate component with healthy designs.
Some of these projects are:
- Lake Nona Florida
- Destination Medical City in Minnesota
- Alliance Town Center in Texas
- Oceanside in Australia
- Medini integrated Wellness Capital in Malaysia
- Serenbe’s New Mado in Georgia
All these projects integrate and package a wide range of alternative, preventive, and healthy lifestyle services that can be easily offered in mixed-use residential neighborhoods.
Some of them also offer social services.
Speaking again of chronic diseases and rising medical costs, this will be something more and more integrated into residential communities.
Trend 5 – From Green to Regenerative Living
The cutting edge of green, sustainable, biophilic, and healthy design is and will be another trend.
Examples hereof are the Bosco Verticale towers in Italy and the Liuzhou Forest City and Monganshan 1000 Trees projects in China.
In these areas, whole buildings and cities are covered with plants and trees to provide a better biodiversity and air quality.
An additional project is the ReGen Villages project in the Netherlands.
It integrates a biophilic and sustainable design with self-sufficient, off-the-grid energy and organic food production.
Trend 6 – Leveraging Technology
Artificial Intelligence, self-driving cars, and augmented reality are only a few of the technologies in the making that will change our living environment in the future.
The following are some model city projects worldwide that show how this might be done in the future using green technologies:
Trend 7 – Wellness Living Based on Hot Springs
More and more hot springs resorts will integrate residential real estate (so far in their majority luxury-level vacation homes) targeting a wider range of buyers, not only luxury buyers.
Some projects worth mentioning are:
Generally, in Europe there is an untapped potential and opportunity to redevelop historic spa towns and combine them with residential real estate.
So, there you have all seven.
I hope I could inspire you a bit and you found them interesting, either as an investor or as a
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