Asia Pacific Fit-Out Cost Guide 2023/2024
Understanding trends and opportunities can help provide an idea of what you would expect to pay for a typical office fit-out across the region.
Resilient markets, but challenges remain
As predicted in our Fit-Out Cost Guide 2022/2023, inflation in Asia Pacific markets is returning to normal levels, but factors like commodity prices, energy costs, wage increases, and exchange rate volatility continue to impact pricing. Geopolitical tensions and global headwinds could cause a second wave of inflation while supply chain constraints exist in M&E, IT, AV, and security trades. We hope this guide serves as guidance as many organisations aim to adapt office spaces for the future, balancing return-to-office mandates with creating hybrid, human-centric workspaces.
US$1,161
is the average cost per square meter for fit-out
across Asia Pacific
Tokyo
is the most expensive city for fit-out
in Asia Pacific
Beijing
is the most expensive city for fit-out
in Mainland China
Are you designing your office for the right work activities?
To ensure the optimal selection of fit-outs, it is essential to consider the specific work activities occurring within the office.
Source: JLL, Is Hybrid Really Working
Questions & Answers
What is this guide and how can it help me?
This guide enables office occupiers to make better, more informed, real estate decisions by providing cost transparency across different office styles, build quality levels, and geographic markets.
It is a useful tool to show what to expect to pay for a typical office in a specific city, and how fit-out-decisions can affect the bottom line.
Where does the data come from?
The data is sourced from 30 JLL offices across Asia Pacific. Actual unit rates from recently completed projects were provided for each of the typical trades that go into an office fit-out. As such, we were able to accurately benchmark and compare costs within the region.
What does Progressive, Moderate or Traditional mean?
Progressive, Moderate and Traditional refer to how space is used in an office.
A Progressive layout is all open plan (except for meeting rooms) and features different types of seating for employees dependent on the task they wish to perform. This could be traditional workstation benches, sit stand desks, high benches for drop in remote workers and break out areas for teams to collaborate.
A Moderate layout is in the middle, and typically adopted by a firm transitioning between a traditional and progressive type of layout.
A Traditional office means that a lot of the floorplate is given over to individual offices. This is typical for firms that have a higher emphasis on privacy.
With so many guides on the market, why should I use the JLL one?
Our data is not an aggregate of projects, but rather actual data from our offices which we then applied to a standard project specifically. This means we created a regional index to know how the costs in one market compared to another.
In addition to that, we have a very strong regional presence with 30 cities across Asia Pacific.
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