Introduction to Wellness Real Estate
The real estate sector is undergoing a transformation where buyers and developers are no longer just looking for square footage or location; they’re seeking wellness. This new priority has shaped a global trend known as “Wellness Real Estate,” which redefines the value of residential and commercial spaces by integrating them with experiences focused on physical, mental, and emotional health.
Growth of Wellness Real Estate
According to the Global Wellness Institute (GWI), this segment nearly doubled its size between 2019 and 2024, reaching an estimated value of $548 billion. The market is projected to surpass $1.1 trillion by 2029, primarily driven by the residential segment, which accounts for nearly 60% of the total.
Beyond Residential Developments
While the residential segment is the primary driver, the wellness concept has transcended other real estate areas. The global wellness tourism market, for instance, has already exceeded $651 billion, with investments in destinations that integrate health, nature, and hospitality as the core of their business model.
Mixed-use developments represent more than 20% of real estate investment in this trend, attracting institutional capital due to their ability to diversify income and cater to multiple needs—residential, commercial, and corporate—within a single space.
In the corporate sector, over 42% of new premium office projects in major global cities incorporate wellness certifications like WELL or Fitwel.
The Impact of Wellness Real Estate
Paulette Lecuona, Commercial Director of Grupo FREL, emphasizes that “Wellness Real Estate” is not a fad but a response to the growing demand for living environments that are not only functional but also actively contribute to people’s quality of life.
“Properties and offices are no longer being sold or rented traditionally; today, a wellness ecosystem is being built for large corporations that directly impacts employees,” Lecuona stated.
Examples of Wellness Real Estate
Grupo FREL’s The Summit in Mexico is an example of wellness-focused architecture. This mixed-use development combines flexible workspaces, cutting-edge technology, and commercial areas centered around wellness.
Key Questions and Answers
- What is Wellness Real Estate? It’s a global trend that integrates health, well-being, and holistic experiences into residential and commercial real estate developments.
- Why is Wellness Real Estate important? It addresses the growing demand for living and working environments that actively contribute to people’s physical, mental, and emotional well-being.
- How has the Wellness Real Estate market grown? The market nearly doubled its size between 2019 and 2024, reaching an estimated value of $548 billion. It’s projected to surpass $1.1 trillion by 2029.
- What types of developments fall under Wellness Real Estate? These include residential, commercial, corporate projects with wellness certifications like WELL or Fitwel, as well as mixed-use developments that cater to various needs within a single space.
- Who is Paulette Lecuona and why is her opinion relevant? Paulette Lecuona is the Commercial Director of Grupo FREL, a leading real estate developer in Latin America. Her insights on Wellness Real Estate highlight its significance as a response to evolving consumer demands.
