H
ealth, happiness, and real estate have become inextricably linked. In metropolitan centers, sleek studios offering hot and cold therapy, boutique fitness studios, and wellness-centric cocktail bars are now a common sight. The pursuit of health and wellness has become an all-consuming affair, with the global industry valued at $6.3 trillion.

    The wellness market has grown significantly, with the United States alone reaching an estimated $480 billion in 2023, growing at 5-10% per year. A report from the Global Wellness Institute revealed that the global wellness market hit $6.32 trillion in 2023, with North American residents spending over $5,000 per year on wellness.

    The pandemic has been a catalyst for this growth, as people have become increasingly determined to prioritize their health and well-being. The post-pandemic landscape is primed for a "revenge" tour, with consumers eager to return to in-person experiences that were off-limits during the pandemic.

    In response, the corporate world has begun to incorporate wellness-centric amenities into office spaces, recognizing the benefits of improved air quality, gym and wellness-focused amenities, outdoor/green spaces, healthy food options, and ergonomic workstations. The global corporate wellness market is projected to reach $123.35 billion by 2032.

    Real estate wellness refers to spaces that were thoughtfully designed to support the health of their residents, tenants, and customers. This concept is growing rapidly, with a projected annual growth rate of 15.8% from 2023 to 2028, reaching an expected $912.6 billion.

    Across various sectors, including office, residential, retail, hospitality, and senior living developments, there is a growing consideration for indoor air quality, open-concept design, smart lighting, meditation zones, ergonomic workspaces, and more. The impact of the health and wellness boom is pronounced across the multifamily sector, with emerging social, health-centric amenities like VR exercise classes and games.

    In Thailand, PROUD Real Estate Public Company Limited is leading the way in sustainable developments and wellness-focused building standards. Buildings accredited to industry programs like LEED, WELL, and Fitwel are considered highly by the market and attract a premium valuation.

    On the senior living side, there is a departure from traditional retirement homes to buildings designed for active adults who are more active, living longer, and looking for opportunities to remain connected to their community. Luxury, retreat-style hospitality has also emerged as a booming wellness-obsessed market, with resorts offering transformative packages that include daily yoga, meditation, and cold plunging.

    As we look to the future, health-first spaces will continue to shape the design process across all CRE sectors. The creation of ecosystems that allow occupants to live, work, relax, and connect while prioritizing their health is essential for business success.