What is Wellness Real Estate?
Wellness Real Estate, as defined by the Global Wellness Institute is “the construction of residential and commercial/institutional properties that incorporate intentional wellness elements into their design, materials, and building as well as their amenities, services and/or programming.” This includes wellness-related renovations and improvements made to existing homes and buildings.
Currently, there are over 740 wellness lifestyle real estate and community developments built, partially built or in development, across 34 countries as of November 2017, and this number is growing every day. These include master-planned communities, multi-family housing, urban districts and mixed-use projects, resort-and-spa based real estate, and other types of projects around the world. 372 projects are located in North America. Wellness Real Estate is predicted to increase to $197 Billion by 2022.
The Wellness Economy
We have been paying close attention to the rise in consumer interest and spending in the wellness economy. Based on growth projections, the industry will be valued at $5.0 Trillion by the end of 2020. In 2018, The Global Wellness Institute (“GWI”) published their annual Global Wellness Economic Monitor Report. The wellness economy exceeded $4.7 Trillion and represented 5.3% of the entire global economic output and growing at a rate of 6.5% annually.
Detailed below is GWI’s breakdown of the market size of each of the 10 sectors they study annually which, are as follows.
Global Wellness Economic Monitor Report
The Urban Land Institute
The Urban Land Institute has also keyed into wellness with Building Healthy Places, a two-year global initiative to raise awareness of the connection between health and the “built environment” which includes homes, commercial and industrial buildings, etc.
Why is The Wellness Economy on our Radar Screen?
The ten sectors that comprise the Wellness Economy are no longer siloed industries. From a real estate perspective, this convergence has and will to continue integrate wellness into our homes and communities. Improving the health and well-being of individuals, families and communities starts in the home where most people spend most of their life.
Since 20% of all consumer spending is our personal investment in our home, more and more homeowners are aware that one key factor to living a healthy lifestyle is by creating a healthy home.
When you consider that $639 Billion is spent each year by consumer’s seeking a WellnessVacation, we believe that wellness “stay-vacations” will increase significantly, particularly as a result of the COVID-19 pandemic. A staggering statistic published by GWI, estimates that “International Wellness Travellers spend at a 53% premium (over the average International Tourist), while domestic wellness travellers spend at a 178% premium (over the average domestic tourist).”
Wellness Trends in the Home
Our research has identified a number of key trends that support holistic health in the home, which include:
- Optimizing indoor air quality is a crucial element, especially in North America where homes are closed up due to excessive cold and heat temperatures 70% of the time.
- The use of low VOC (volatile organic compounds) paints and finishes.
- The use of eco-friendly cleaning products.
- The addition of indoor plants to increase oxygen levels.
- Enhancing the capacity for natural light by adding more windows, skylights etc.
- Dedicating space for physical fitness, yoga or meditation.
- Enhancing the quality of sleep.
- Eating healthy organic food. (We are so blessed to be living in south-western Ontario!)
- Creating a wellness kitchen by using technology and modern design.
- Reducing electromagnetic fields (EMFs) as much as possible.
What is a ‘Healthy’ Home?
What is a Wellness Kitchen?
Our kitchens will use advancements in technology and design to foster a healthier lifestyle with features readily available to us, which include:
- Personal window gardens to grow fresh leafy green vegetables and herbs.
- Temperature and humidity-controlled cabinets and specialty appliances with running water to keep fresh food alive and nutrient rich.
- Cellar-like storage drawers for root vegetables.
- Water-filtration system integrated with the primary faucet.
- Lots of natural light from windows, skylights and glass entry doors.
- Convenient built-in cabinets/systems for recycling and composting.
Recommendations
The Wellness-Focused Buyer will:
- Curtail their search to homes that offer many of the features of a holistic home listed above.
- Pay a premium to ensure they live in a healthy home.
- Be well-informed on the proven technological advancements and improvements to building design and the use of eco-friendly, healthy building materials.
Please keep this in mind if you are considering completing renovations to prepare your home for the market.
Moving Forward
The COVID-19 pandemic has forever changed the way we live our lives on a day-to-day basis. We predict that consumer spending on our homes will rise significantly as more and more wellness travel dollars are diverted to improving or adding wellness-related features in our existing home.
Our goal is to share information and trends with you that are thoroughly researched from credible sources. We will source reputable products and service providers (local companies wherever possible), that have tailored their businesses to promote wellness in the home.
We’d love to hear from you so please send us your thoughts, suggestions and opinion on this very diverse topic. Please email us at Roxanne@ChestnutPark.com or call 289-338-0767.
Share This Post:
Sources:
Global Wellness Institute. (2018, October). Global Wellness Economy Monitor. Retrieved from https://globalwellnessinstitute.org/
The Urban Land Institute. (2013). Building Healthy Places. Retrieved from http://uli.org/
UKGBC. (2016, July). Health and Wellbeing in Homes. Retrieved from https://www.ukgbc.org/
Not intended to solicit buyers or sellers currently under contract with a brokerage. Whole or partial reproduction is forbidden without written permission from the publisher Roxanne Henderson or Claxton Finn.
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Just Listed on Lake Simcoe: 968 Degrassi Cove Pl W, Innisfil
This custom home direct waterfront home was built in 2000 by the current owner and has served as a sanctuary for family and friends. Over their 22 years of ownership, they have enjoyed the property during every season.
Degrassi Cove is a small and exclusive waterfront community and share the private road. The forested lands on the opposite side of the street provide great privacy. There is no vehicle traffic other than the neighbours, so it is very safe for kids.
Built as a 4-season home and located on the west-side of Lake Simcoe. You will enjoy north-west facing views of the lake and sunsets. There are no stairs to the water’s edge. The water table is level to the lot, which offers a beautiful beach area along the shoreline. There is great swimming and boating. The portable dock is 65 ft long with a 12’ x 12’ patio area. Boating enthusiasts can store their boat in the dry boathouse. Entertaining on the lake is so easy!
The home offers 2,700 sf on the main and upper level. The principal rooms offer generous space including a large private family room, formal dining room, large great room combined with the eat-in kitchen. In addition, there is 1,535 sf of finished space on the walk-out level. There are four generous size bedrooms. The primary bedroom is situated on the main level and overlooks the lake, and includes a five-piece ensuite, a walk-in closet and a garden door to the lakeside patio area. The three other bedrooms are located on the second floor.
The lower level includes a large recreation room with wood-burning fireplace and a walk-out to the lake. A large office with a built-in desk and bookcases can serve as a large 5th bedroom. The 3-piece bathroom is also equipped with a partially finished cedar-lined sauna. There is plenty of storage space on this level too.
$2,500,000
Photography by @ishutterphoto
Staging by @chateau_designandstaging
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Just Listed: 30 George Street, Bayfield.
This professionally designed custom-built home embodies a comfortable, vintage cottage feel built with energy efficient maintenance-free materials. This home offers a private park-like setting, with in- town conveniences. It’s a nature lover’s lot…a sanctuary for birds and wildlife. This one in in a million home was showcased in a 16-page spread in Cottages & Bungalows Magazine.
Shiplap walls and wood slat ceilings throughout impart a cabin-like coziness. The primary bedroom is secluded on the main floor overlooking a wooded area that surrounds the property. The front office duals as an additional main floor bedroom adjacent to a 3-piece bathroom. The upper level includes two additional bedrooms that provide enhanced privacy for guests. One of the bedrooms functions as a seating area with a Murphy bed and small kitchenette. It has been designed as a secure space for future rental opportunity.
Located in the charming lakeside village of Bayfield, this property is a stone-throw away from Lake Huron, a short walk to town, the fishing pier and marina, Pioneer Park and the Community playground. This spectacular property backs on to a designated environmental area and surrounded by trees makes it an ideal retreat for entertaining family and friends.
$1,495,000
#bayfieldontario #huroncounty #lakehuron #interiordesign #kitchendesign #farmhousestyle #whitefarmhouse #cottagedesign
There are rooms with a view, and then there are bathrooms with a view. What better way to end your day than in this freestanding tub.
Design @candaceplotzdesign
Photo @patrickbiller
Builder @jeffery_homes
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It’s no secret that green has been trending in a major way lately. Not only does the leafy shade conjure the sensation of being outdoors after two years cooped up at home, it also is a versatile (and welcome) alternative to traditional colors like white and gray.
via @pcdsackitchens
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The kitchen is the heart of the home 🤍
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For Sale: 334 Metro Road N, Georgina
Sweet 3 bedroom home that has a light and airy feel to the interior. Vaulted ceiling with open concept design creates a welcoming feel with plenty of natural sunlight all afternoon. Hardwood floors in bedrooms. Updated interior ready to be moved in to. It is a special place to call home or cottage.
Large wrap-around deck features West-facing views of 2-acre park of which you would be a 1/10th owner. Private dock for all park owners. Deeded Lake Simcoe access is rare to find. Very private setting with mature trees.
$964,000
Message us today for more information or to book private showing.
staging by @chateau_designandstaging
photography by @ishutterphoto
#lakesimcoe #lakesimcoerealestate #georginaontario #keswick #lakehouse #lakehousedecor #cottageinterior #cottagestyle
20 Quiet Heights Lane, Georgina provides views of the lake from all spaces on the west side of them home, including the great room, kitchen, dining area, and primary bedroom.
You will enjoy the morning sunrise from the front covered porch and of course, sunset views from the lakeside. The natural sunlight fills the home with warmth and light all day long. It’s tranquil, serene, and welcoming.
In the design stages, the current owner had some important “must-have’s” including a Muskoka like feel, spaciousness, sun-filled rooms, and an “understated elegance“ carried throughout the home.
Some of the interior features include:
– 3 bedrooms on main level and 2 additional bedrooms on the lower level
– 3 full bathrooms plus powder room
– 10.9 ft ceiling height on the main level and 9 ft ceiling height on the lower level
– Great room includes custom millwork and 13 ft vaulted coffered ceiling
– Gourmet kitchen with upgraded appliances
– Spectacular light fixtures including ceiling fans in each bedroom
– Custom drapery and blinds
– Radiant heated floors in kitchen, primary ensuite and the entire lower level
– Surround sound system both indoors and outdoors
A full list of room features, additional images, virtual tour, and more can be found on our website (link in bio).
This listing is also available on realtor.ca (MLS# N5657656)
Listing Price: $1,935,000
DM us to book a private viewing.
Photography @ishutterphoto
Staging @chateau_designandstaging
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Just Listed: 20 Quiet Heights Lane, Georgina.
When you combine the attention to detail of a quality builder with the owner’s vision to create a sanctuary home, the result is spectacular.
This home offers a “Zen” feel immediately upon your arrival.
The landscaping is wonderfully appointed with a collection of perennial gardens, shrubs, mature trees and privacy hedges on both sides, which is home to many birds. There are several seating areas promote great conversation with family and friends or a place to enjoy some quiet time when you want to be alone and enjoy nature all around you.
This is a wonderful home to entertain in both indoors and outdoors. The raised balcony includes a covered area where you can enjoy a summer rain shower. The open area provides lots of space for your chaise loungers to get some sun and watch an array of boats on the lake.
The lower deck is covered and a perfect location for the 7-seater plus lounger hot tub along with another separate seating area to enjoy the lake views.
Listing Price: $1,935,000
DM us to book a private viewing.
The full listing can be found on our site & on realtor.ca (MLS# N5657656)
Photography @ishutterphoto
#lakesimcoe #lakesimcoerealestate #georgina #georginarealestate #keswick #lakeviews #custombuild
Tags: Eco-Friendly, Globel Wellness, Health and Homes, Natural Medicine, Organic Food, VOC, Wellness, Window Gardens