Now more than ever, buildings are being designed and constructed with our health in mind.
With an emphasis on clean air, pollutant-free environments, and biophilic design, this movement hopes to improve our quality of life.
But, can your house really help you live longer? Let’s take a look.
Wellness is transforming real estate:
- The global wellness real estate market is expected to reach $197B by 2022.
- In North America, the market is worth $52B and is growing by 6.4% annually.
- There are an estimated 1.3M potential buyers each year in the US for wellness-oriented homes and communities.
What it is: In the simplest form, wellness real estate refers to buildings proactively designed and constructed with an occupant’s holistic health in mind.
Merging wellness and real estate isn’t a new idea. But trademarking the words Wellness Real Estate and selling a “WELL” building certification foreshadows what’s ahead for this burgeoning industry.
More specifically, Delos is the owner of the aforementioned trademark and the company behind the WELL Building Standard. Founded by former Goldman Sachs partner Paul Scialla, Delos has raised some $237M in funding at an $800M+ valuation to redefine Wellness Real Estate™.
Following the model set forth by the LEED green building standard, Delos certifies residential and commercial spaces that comply with its WELL standard for air, water, nourishment, light, fitness, comfort, and mind.
Of note, LEED is administered by a nonprofit. Delos is anything but.
According to Forbes, Delos has handled 1,555 projects totaling 314M square feet in 48 countries, earning an estimated $20M in revenue last year from certifications alone.
What goes into creating a “WELL” home? Use your imagination.
The amenities: A few of the non-negotiables include water and air filtration systems that remove pollutants, allergens, and toxins.
Next, the lighting can sync with your circadian rhythm, producing energizing light in the morning and melatonin-enhancing light in the evening. There’s even posture-supportive flooring and surfaces that destroy bacteria.
From meditation rooms and infrared saunas to vitamin C-infused showers and electromagnetic shields, the list of upgrades is long and growing. And like the broader trends in wellness lifestyle, money is the only limiting factor in accessing the upper echelon.
Residential homes, co-living apartments, and high-end condos have tapped wellness real estate to reimagine how we live.
Homes: In Los Angeles, the health-obsessed will find their heaven on earth in this 10,000-square-foot, $24.5M wellness house. Equipped with the DARWIN intelligent wellness platform, the air, water, and lighting are pristine. Going further, the Himalayan salt room, gym, sauna, and steam room put this place over the top.
Apartments: Haven Coliving in Venice Beach offers a more affordable version of the wellness dwelling. Starting at $995/month, this wellness-themed communal living residence includes a gym, yoga studio, outdoor meditation area, a full slate of fitness and wellness classes, and the ever-present company of other health nuts.
Because we spend the vast majority of our time indoors, it’s logical to optimize these environments for our well-being. But, focusing exclusively on high-end developments further divides the haves and the have-nots.
The hope is that the luxury wellness amenities will trickle down into more affordable developments that cater to children with asthma or older adults who have trouble navigating their surroundings.
Until then, it’s more likely for wellness real estate to be defined by increasingly esoteric list of amenities tailored to those who can afford them.