Art & Culture

Personal Wellness Is The New Luxury

Laura Lee
Mar 14, 2020

Health is something most of us put on the side during our day to day lives. We aren’t actively grateful or aware of being healthy, until the holidays come around and we toast to our good health. And then the coronavirus COVID-19 pandemic hit. Now health and vitality are the most important things among the global population. Wellness-oriented services aimed for both the mind and body are at an all-time high peak and it looks like that trajectory if for the long run. “Each year, our researchers drill down to the most significant trends driving the purchasing patterns of high-net-worth consumers,” said Stephanie Anton, President of Luxury Portfolio International®. “The results from this latest study are extremely compelling, showing a seismic shift in how consumers view their properties: not just home-sites adorned with designer finishes and furnishings, but havens that cater to mental and physical wellbeing. The subsequent ripple effect as it relates to holistic amenities and technology is far-reaching.”

There is a new trend among home-owners dubbed “wellness real estate.” More and more homes are built with in-home meditation spaces, home spas, home gyms, kitchen elements and appliances for managing dietary preferences, etc. Luxury homeowners are also looking to spend more personal time at home. Consumers are focused on having their home be a place to unwind and disconnect, so things like spa-baths and amenity-rich outdoor living areas are a priority. “The experiential component of the wellness phenomenon cannot be overstated,” concluded Anton. “With the growing number of millennials at the tip of the arrow of this evolution – those who have a more experiential perspective as it relates to their lives, and homes — the wellness trend will continue to evolve, forever impacting the prime property market.”