How Wellness Is Reshaping the Real Estate Market
by Lisa Sternfeld
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Real estate expert Kirsten Jordan. Photo courtesy of Clare Perry |
Wellness is increasingly becoming a focus for how people choose both where and how they live. More buyers are beginning to consider not just how a home looks, but how it supports their health, mindset and daily rhythms. Whether in an urban high-rise, rural escape or seaside home, wellness is becoming part of the conversation. According to the America at Home study, health and wellness now rank among the top priorities when searching for a place to live.
To understand how the market is evolving, WLLW spoke with Kirsten Jordan of Corcoran Group, a leading New York City real estate broker with a front-row seat to changing buyer behavior. “I have clients who won’t even look at a building unless it has a sauna, cold plunge or steam room,” she told us. “They’re willing to sacrifice square footage to get it.” While current demand is often focused on amenities, Kirsten sees a deeper shift emerging. “As conversations around longevity and innovation evolve, I believe buyers will start asking more about the ingredients in their homes – just like they do with their food.”
“As conversations around longevity and innovation evolve, I believe buyers will start asking more about the ingredients in their homes – just like they do with their food.”
Kirsten Jordan
For some clients, the shift comes after a health scare. “They question all of it,” she said. “The HVAC systems, the paint on the walls, the finishes. Then they begin furnishing their homes more intentionally with products that feel safe.” However, investing in a healthy home doesn’t need to wait for a turning point. It’s a proactive choice and one that can benefit anyone at any stage of life.
The value of that is becoming clear. According to the Global Wellness Institute, wellness real estate is now a $438 billion global industry, expected to more than double by 2028. In the US, homes with healthier materials, cleaner air and water systems, as well as sustainable construction are commanding premiums. Kirsten confirms that “the ‘wellness premium’ is real. Buildings with standout amenities, especially those that feel like a wellness retreat, tend to sell faster and command higher prices.”
Wellness developments at the middle to upper ends of the market are achieving home sales premiums averaging 10 to 25 percent. In some areas, green-certified homes have resold for 4 percent more than comparable properties, while homes with solar panels or energy upgrades have sold for up to 7 percent more. Many of the same features that support human health, including low emitting materials, efficient energy systems, and smart water use, also help reduce environmental impact. As wellness and sustainability become more connected, buyers are responding.