The wellness real estate sector is revolutionising commercial construction, with a global market value of AUD 656.3 billion in 2023 and an impressive annual growth rate of 18.1% from 2019 to 2023. The market is projected to reach approximately AUD 1,371.02 trillion by 2028, based on the 15.8% annual growth rate predicted from 2023 to 2028.
In 2023, Australia ranked fourth globally among the top wellness real estate markets, with its value growing from AUD 23.4 billion in 2019 to AUD 38.5 billion, reflecting an average growth rate of 13.3%
If you’re looking to build or renovate your commercial space, here are three key wellness real estate trends you should consider:
1. Healthy Indoor Air
The pandemic and unprecedented wildfires worldwide have sharpened the focus on indoor and outdoor air quality.
PM2.5, tiny particles less than 2.5 micrometres in diameter, deeply penetrate the lungs and bloodstream, posing serious health risks. Research links lower indoor PM2.5 levels to improved cognitive performance among office workers. Conversely, recent studies across six countries found higher PM2.5 and lower ventilation correlated with slower cognitive responses.
Good indoor air quality boosts mood and workplace performance by 10%. With health and productivity on the line, clean air is now a top priority for homes, workplaces, schools, hospitals, retail, and industrial buildings.
2. Green Building Construction
The modern building industry is increasingly shaped by the fast-growing green building market, valued at $341.8 billion globally, with 47% of real estate firms worldwide holding green building certifications. This trend reflects a convergence of human health and environmental sustainability in construction practices.
Green buildings offer significant benefits: they reduce water consumption by 20-30%, lower CO2 emissions by 35%, save 10.5% in operating costs, and increase asset value by 9%.
3. Integrative Wellness Design
Commercial properties designed with wellness in mind are increasingly attractive to tenants seeking environments that support health and productivity.
In Perth, Australia, wellness real estate has seen significant growth, with the market increasing from $15.58 billion in 2019 to $25.65 billion in 2023. That’s a 13.3% growth rate.