Wellness real estate is well on its way in moving from elective to essential, according to New Global Wellness Institute (GWI) research that revealed the sector grew 22% during the pandemic year, particularly as it relates to residential projects.
Three years ago, "wellness real estate was a concept not well understood by consumers, builders, developers or investors," according to GWI senior research fellow Ophelia Yeung.
Wellness residential projects have since quickly tripled, from 740 worldwide in 2017 to over 2,300 today; while overall construction projects shrank -2.5%;
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