E360 Real Estate ForecastJanuary 1, 2011 11:26 am
Our 2011 foreign real estate forecast is focused on residential international property located in the Latin America and the Caribbean. Our real estate forecast is based upon consumer demand trends we have been tracking through our existing second home owner survey and syndicated consumer research.
We expect foreign real estate purchase motivation will shift from investment to lifestyle reasons. Lifestyles will be motivated by master plan attributes like views, water features and wellness.
The population market size is estimated at 289 million consumers across 30 countries. In 2011, the first members of the Baby Boom will reach age 65 according to the U.S. Census. There are 3.5 million baby boomers turning 65 in 2011. In the U.S. at age 65 baby boomers typically receive the full benefit of social security. Our research has shown a growing trend in preventive health related activities by baby boomers. Real estate health and wellness is also expected to be a strong driver of demand in the second home real estate world. The Global Spa Summit has estimated the market size as a 2 Trillion industry. Health and wellness as it is translated into second home real estate demand has limited research coverage. According to one of their most recent reports, drivers of the growing wellness industry are
- increasingly older population,
- failing medical system and
Health and wellness consumer demand has overwhelmingly preferred,”the expertise of medical professionals combined with the ambiance and caring touch of a spa” according to a study by Spa Finder Research. Health Tourism Magazine claims that Gen X and Y are the larger consumer segments for spa and wellness centers worldwide. They reportedly consider price and authenticity more than anything else. According to some spa experts Ayurvedic therapies, oriental healing methods define a destination spa and induce demand.
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Element-360 (E360) provides real estate development consulting. We focuse on real estate emerging markets across Latin America and the Caribbean. E360 is supporting market driven real estate development and tourism with research based visions and solutions. The E360 team has over 35 years of real estate experience representing over $10 billion in revenues world-wide. E360 has extensive expertise in research, market positioning, capital structuring, cash flow modeling, marketing strategy development and execution.