Global Office Fit-Out Cost Guide 2022-2023

Introduction

This global report provides in-depth analysis of fit-out cost data from CBRE.

CBRE’s 2022-23 Global Fit-Out Cost Guide is the industry’s most comprehensive analysis of fit-out pricing globally. This year’s edition focuses on the global changes in work models and the challenges faced as a result of the pandemic, climate change and heightened economic uncertainty.

The global shift in workplace behaviors has resulted in new ways of thinking about the construction of offices. Companies have adopted hybrid work models, and people need a blend of flexible, team and event spaces. Likewise, many companies have set net-zero carbon targets, expanding real estate sustainability strategy beyond energy savings to include decarbonization and Environmental, Social and Governance (ESG) criteria.

But with the changes there have been challenges. The lingering effects of COVID-19 and the war in Ukraine have led to economic and supply chain uncertainty, which affects the fit-out market by diminishing budgets amid inflation and causing long lead times in procurement.

CBRE introduced our Fit-Out Cost Guide in 2013 as a benchmarking tool to support planning and investing in capital fit-out projects. This year our cost guide leverages more quality data than ever before, with input from strategic partners.

The 2022-23 guide provides insight into global market trends, with regional data from APAC, EMEA, North America and Latin America. CBRE’s talented and diverse global project team provides the knowledge, research and connections that make this Fit-Out Cost Guide possible.

We sincerely thank everyone who has contributed to the Fit-Out Cost Guide, and we thank our clients for your continued engagement with our work. We hope you find this edition useful as you plan fit-out projects for 2023 and beyond.