TriBrand Prosperity 2020 Complete - Page 55



Trend #2 Home Wellness is
in growing demand
These developments include elements of wellness in design,
materials, and building in addition to amenities, services and
activities.
LA QUINTA,
CALIFORNIA,
USA | Institute
$2,850,000
Projections
by the
Global Wellness
show Wellness
3
Real Estate is growing faster than other aspects of wellness
investment. With 740 residential projects in the pipeline
worldwide as of 2017 there is certainly appetite at the
consumer end.
Urban mixed-use areas are particularly benefiting from the
Wellness Real Estate boom, especially those catering to
younger consumers who are even more interested in focusing
on their wellness. This fits perfectly with Millennials, who are
keen to have an urban life free from hassles (for example, 47%
agree they can see themselves not owning a car one day).
Changing work styles from in-office to remote also promotes
less need for permanently owned mobility and an increased
need for self-care at home.
Since it is early in the trend for Wellness Real Estate, new ways
of meeting this desire are emerging all the time. Wellness
at home can be found, for example, with specific kitchen
elements* for the management of dietary preferences (e.g.,
temperature and humidity controlled cabinets, cellar-like
storage for root vegetables, apples and other fall harvest
produce), meditation spaces, exercise rooms, home spas or
saunas, special lighting features for sleep hygiene, air and
water filtration and more.
At the same time, older Baby Boomers also benefit from
the Wellness Real Estate trend as their needs change and
downsizing become a priority. Downsizing to a sociallyfocused community offers the appealing option of an easy
way to stay in touch with a community. By being near others it
builds up social wellness, which 34% report is a focus in their
lives.
Trend #2: Home wellness is in growing demand
Wellness Real Estate includes both residential and commercial/
Projections by the Global Wellness Institute show
institutional developments (such as master- planned
Wellness Real Estate3 is growing faster than other
communities, multi-family housing, urban districts and mixedaspects
of wellness
investment.
Withestate
740 residential
use
projects,
resort and
spa-based real
and others).
projects in the pipeline worldwide as of 2017 there is
certainly
appetite at the consumer end.
*Learn more about the wellness kitchen in LPI Magazine — Vol. 9, Issue 2.
3
Global Wellness Institute, Global Wellness Economy Monitor, October 2018
PROJECTED AVERAGE ANNUAL GROWTH RATE 2017–2022
8.0%
ELEMENTS OF PERSONAL WELLNESS ARE A FOCUS IN YOUR LIFE
7.5%
Millennials (23–40) | Gen X (41–54) | Baby Boomers (55–73)
71%
77% 79%
6.7%
70% 68%
60%
54%
50%
54%
6.5%
56%
49% 47%
34%
Physical Wellness
Wellness
Real Estate
Emotional Wellness
Wellness
Tourism
Intellectual Wellness
Workplace
Wellness
6.4%
Social Wellness
Thermal/Mineral
Springs Wellness
38%
33%
Spiritual Wellness
Spa
Facilities
INSIGHT: New ways of working and living are contributing to the way affluent consumers think about their
home
Home choices
are becoming more
complex
as thisareas
new are
factor
of wellnessbenefitting
becomes from
Urban
mixed-use
particularly
Since it is early in
the environment.
trend for Wellness
Real Estate,
available
in
the
very
places
they
live.
Experts
say
convenience
and
accessibility
are
valuable
components
the Wellness Real Estate boom, especially those catering
new ways of meeting this desire are emerging all the
forhome
an effective
to younger consumers who are even more interested
time. Wellness at
can bewellness
found, program.
for example,
with specific
PROSPERITY
2020
8 ||
kitchen elements* for the management
of dietary preferences (e.g., temperature and humidity
Luxury Portfolio International
controlled cabinets, cellar-like storage for root
®
in focusing on their wellness. This
55fits perfectly with
Millennials, who are keen to have an urban life free
from hassles (for example, 47% agree they can see

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