There is an old Chinese proverb that says, “if we don’t change course, we will end up where we are going.” In uncertain times, it is difficult to make plans. COVID-19 has devastated financial markets, which have experienced astonishing volatility, primarily because the actual threat and impact of the virus is unknown.

The fear, however, is real. No asset class has been left unscathed. Even gold stocks have been hit, an asset class previously thought to benefit from panicked markets. Having overcome the initial shock of the arrival of the virus, attention is now shifting to the longer term, with a focus on how health, technology and sustainability might improve our lives and drive the recovery.

Health and wellbeing focus

After the virus passes, expect to see more interest in how the built environment can improve health and wellbeing rather than detract from it. This is a natural evolution of a “think global, act local” mindset, where globally-identified health and wellness issues are being addressed through local urban design.

As a major investor in retirement living, this is a pillar of Stockland’s sustainability strategy. Stockland’s villages include wellness centres with gyms, weekly fitness classes, heated pools, a yoga studio, hair salon and clinical consulting rooms. This partly explains why residents of these facilities require 30% fewer hospital and GP visits than standard villages. Especially for high-risk older people, this approach is likely to become mainstream.

Charter Hall offers another example of where things might lead, accrediting its office towers under the WELL building standard. This is a tool for advancing health and wellbeing in buildings across the globe, considering factors like air and water quality, light, fitness and comfort. The approach shows how landlords can assume greater responsibility for public health.