Could staying on top of the latest wellness developments in real estate be a resource to help your business this 2020?
YES! Yes, it could!
According to the latest reports from the National Association of Realtors (NAR) Wellness as it relates to real estate is estimated to be a $52.5 billion market in North America, projected to grow by more than 6% annually. Wellness has grown from budding personal health concept to a $4.2 trillion global industry.
With our fast-paced, stress-filled lifestyles pushing many home buyers to try to find a balance wherever and whenever they can, wellness communities has been a haven. If homes themselves can help boost health and well-being, then people will seek that out, actively.
So, how can real estate agents work this real estate niche into their business strategy?
NAR offers these snippets to give us a picture of what customers seek in wellness communities:
- Community wellness amenities like yoga rooms, meditation rooms, spas, and fitness centers.
- Wellness utilities including air purification systems, solar panels, and lighting systems.
- Smart appliances promoting healthy living.
- Green building and healthy material choices in new construction.
- Outdoor connections like tranquility gardens, rooftop patios, or private parks.
- Onsite programs, classes, and wellness professionals.
Americans spend 93% of their time indoors, according to the Environmental Protection Agency, so a person’s home is a vital piece of the puzzle. In short, all signs point toward continued growth in the wellness real estate market. Wellness communities, holistic neighborhoods, and complexes focused on health and wellness continue to pop up all over the country.
At present, wellness trends in real estate go beyond simply focusing on green building, although that is one important component. People are beginning to understand that their living environment directly affects their health and are seeking ways to minimize negative impact.
Experts believe prospective homeowners are willing to pay an average of 10% to 25% premium for homes within wellness communities. The phenomenon isn’t going anywhere anytime soon. The question is, could this new trend help you and your business grow this 2020?
Let us know in the comment section below!
About the writer: Shaura Cuyan writes about all the hottest Real Estate trends and predictions for Summit VA Solutions! She has previously written for a number of freelancing gigs and writes her own blog on lifestyle and current issues. She is a Graduate of Bachelor of Arts in Communication, taking up her Masters in Development Communication.