JLL: Office sector is regaining its central role in commercial real estate - at a cost
JLL (NYSE: JLL) has released its Global Office Fit-Out Costs Guide 2025, revealing that 59% of organizations globally plan to increase investment in space design over the next five years. The report analyzes data from 68 cities in 40 countries, showing that office fit-out costs have increased across all regions, with North America commanding the highest average at $3,070/sqm compared to the global average of $1,830/sqm.
Key findings indicate that builder works account for 37% of global fit-out costs, while Mechanical & Electrical expenses represent 20-45%. The study reveals growing demand for sustainable fit-outs, with 60% of markets reporting increased client inquiries. Despite economic uncertainties, companies are optimistic about growth, though challenges persist including labor shortages, material availability, and geopolitical instability.
JLL (NYSE: JLL) ha pubblicato la sua Guida ai Costi di Allestimento Uffici Globali 2025, rivelando che il 59% delle organizzazioni a livello globale prevede di aumentare gli investimenti nel design degli spazi nei prossimi cinque anni. Il rapporto analizza i dati provenienti da 68 città in 40 paesi, mostrando che i costi di allestimento degli uffici sono aumentati in tutte le regioni, con l'America del Nord che registra la media più alta a $3,070/mq rispetto alla media globale di $1,830/mq.
I principali risultati indicano che i lavori di costruzione rappresentano il 37% dei costi globali di allestimento, mentre le spese meccaniche ed elettriche oscillano tra il 20% e il 45%. Lo studio rivela una crescente domanda di allestimenti sostenibili, con il 60% dei mercati che riportano un aumento delle richieste da parte dei clienti. Nonostante le incertezze economiche, le aziende sono ottimiste riguardo alla crescita, anche se persistono sfide come la carenza di manodopera, la disponibilità dei materiali e l'instabilità geopolitica.
JLL (NYSE: JLL) ha publicado su Guía de Costos de Adecuación de Oficinas Global 2025, revelando que el 59% de las organizaciones a nivel mundial planea aumentar la inversión en el diseño de espacios durante los próximos cinco años. El informe analiza datos de 68 ciudades en 40 países, mostrando que los costos de adecuación de oficinas han aumentado en todas las regiones, con América del Norte liderando con un promedio de $3,070/m² en comparación con el promedio global de $1,830/m².
Los hallazgos clave indican que los trabajos de construcción representan el 37% de los costos globales de adecuación, mientras que los gastos mecánicos y eléctricos oscilan entre el 20% y el 45%. El estudio revela una creciente demanda de adecuaciones sostenibles, con el 60% de los mercados reportando un aumento en las consultas de los clientes. A pesar de las incertidumbres económicas, las empresas son optimistas sobre el crecimiento, aunque persisten desafíos como la escasez de mano de obra, la disponibilidad de materiales y la inestabilidad geopolítica.
JLL (NYSE: JLL)는 2025년 글로벌 사무실 인테리어 비용 가이드를 발표하며, 전 세계의 59% 조직이 향후 5년 동안 공간 디자인에 대한 투자를 늘릴 계획이라고 밝혔습니다. 이 보고서는 40개국 68개 도시의 데이터를 분석하여 사무실 인테리어 비용이 모든 지역에서 증가했음을 보여주며, 북미가 평균 $3,070/㎡로 가장 높은 평균을 기록하고 있습니다. 이는 글로벌 평균인 $1,830/㎡와 비교됩니다.
주요 발견에 따르면, 건축 작업이 글로벌 인테리어 비용의 37%를 차지하며, 기계 및 전기 비용은 20-45%를 차지합니다. 이 연구는 지속 가능한 인테리어에 대한 수요가 증가하고 있음을 보여주며, 60%의 시장이 고객 문의가 증가했다고 보고하고 있습니다. 경제적 불확실성에도 불구하고 기업들은 성장에 대해 낙관적이지만, 인력 부족, 자재 가용성 및 지정학적 불안정성 등의 도전 과제가 여전히 존재합니다.
JLL (NYSE: JLL) a publié son Guide des Coûts d'Aménagement de Bureaux Mondiaux 2025, révélant que 59% des organisations dans le monde prévoient d'augmenter leur investissement dans la conception des espaces au cours des cinq prochaines années. Le rapport analyse des données provenant de 68 villes dans 40 pays, montrant que les coûts d'aménagement des bureaux ont augmenté dans toutes les régions, l'Amérique du Nord affichant la moyenne la plus élevée à $3,070/m² par rapport à la moyenne mondiale de $1,830/m².
Les résultats clés indiquent que les travaux de construction représentent 37% des coûts mondiaux d'aménagement, tandis que les dépenses mécaniques et électriques varient entre 20% et 45%. L'étude révèle une demande croissante pour des aménagements durables, avec 60% des marchés signalant une augmentation des demandes des clients. Malgré les incertitudes économiques, les entreprises sont optimistes quant à la croissance, bien que des défis persistent, notamment la pénurie de main-d'œuvre, la disponibilité des matériaux et l'instabilité géopolitique.
JLL (NYSE: JLL) hat seinen Global Office Fit-Out Costs Guide 2025 veröffentlicht, der zeigt, dass 59% der Organisationen weltweit planen, in den nächsten fünf Jahren mehr in das Design von Räumen zu investieren. Der Bericht analysiert Daten aus 68 Städten in 40 Ländern und zeigt, dass die Kosten für Büroausstattungen in allen Regionen gestiegen sind, wobei Nordamerika mit einem Durchschnitt von $3,070/m² die höchsten Kosten aufweist im Vergleich zum globalen Durchschnitt von $1,830/m².
Wesentliche Ergebnisse zeigen, dass Bauarbeiten 37% der globalen Ausstattungs kosten ausmachen, während mechanische und elektrische Ausgaben zwischen 20% und 45% liegen. Die Studie zeigt eine wachsende Nachfrage nach nachhaltigen Ausstattungen, wobei 60% der Märkte von einem Anstieg der Kundenanfragen berichten. Trotz wirtschaftlicher Unsicherheiten sind die Unternehmen optimistisch hinsichtlich des Wachstums, obwohl Herausforderungen wie Arbeitskräftemangel, Materialverfügbarkeit und geopolitische Instabilität bestehen bleiben.
- Growing demand for sustainable fit-outs indicates potential for long-term cost efficiencies
- Companies showing optimism about growth and planning increased headcount
- Sustainable M&E upgrades can save 10-40% on operational energy costs
- Rising fit-out costs across all regions due to inflation and material costs
- Labor shortages affecting construction costs in 50% of markets
- Economic and political uncertainty causing project instability
- Supply chain risks and raw material price increases in 75% of markets
Insights
JLL's latest report highlights a significant pivot in the office sector that directly strengthens their business prospects. With
The regional cost disparities revealed in the report – particularly North America's premium at
The sustainability trend represents a particularly valuable growth vector, with
While economic uncertainties persist, the fundamental shift toward greater in-office attendance directly benefits JLL's core business. The research positions JLL not just as a service provider but as an essential strategic partner in navigating this complex market transition – a crucial differentiator that should translate to sustained business growth.
This report reveals a profound market shift that validates JLL's integrated service model. The "flight to quality" trend highlighted in the research demonstrates that despite cost pressures, companies are prioritizing premium office environments – a dynamic that favors JLL's full-service capabilities spanning design, project management, and sustainability consulting.
The mechanical and electrical services component is particularly telling, accounting for an average
The regional cost analysis provides valuable competitive intelligence. While U.S. cities dominate the highest-cost markets alongside Vancouver, Tokyo, London and Dubai, the report identifies emerging opportunity zones in high-growth markets across India, South Africa, Vietnam and China where fit-out costs remain lower despite rapid construction growth.
The research confirms a fundamental market evolution where workplace design has become a strategic imperative rather than a mere cost center. JLL's nine-point pricing matrix approach demonstrates sophisticated understanding of varied client needs across different quality levels and office configurations. This positions the company to capture increasing wallet share as organizations navigate the complex balance between attracting employees back to offices while managing escalating fit-out costs during a period of persistent economic uncertainty.
To meet increased space needs,
"Five years following the start of the global pandemic, we continue to see the evolution and growing momentum toward the office sector. As companies more frequently adapt their hybrid policies to favor greater in-office attendance, at JLL, we help our clients identify and create high-quality, sustainable spaces that support the wellbeing and productivity of their workforce," said Cynthia Kantor, CEO, Project & Development Services, Work Dynamics. "While global fit-out costs vary greatly, depending on regulations, design preferences and functional requirements, our team and the Global Office Fit-Out Costs Guide helps organizations plan their office spaces and projects in the face of market uncertainty."
Office fit out costs on the rise, led by
Across all regions surveyed, office fit out costs have increased in the last 12 months to varying degrees. With
Regionally, a significant premium for office fit outs is commanded by
Global variations between major cities also persist.
Macro-economic impacts and 'flight to quality' drive market cost expectations
Of the markets assessed, fit-out cost increases over the last 12 months were driven by inflation, material costs and currency volatility. Three-quarters of markets reported increases in raw material prices, and half have experienced labor shortages in the last 12 months that have increased construction costs.
Organizations need to factor in these potential cost factors throughout global construction when developing their fit-out budgets. To help with this process, JLL identified a nine-point pricing matrix, adapting standardized layouts to various quality levels (baseline, medium, high) and office configurations (Progressive hybrid, Moderate hybrid and Traditional focus), reflecting a variety of cost factors and potential associated outcomes that can inform the design and delivery of office fit outs. Builder works or construction, for example, accounts for the largest component of fit out costs globally (
Sustainability drives continued demand
Amid growing interest in healthier, energy-efficient workspaces, paired with the friction created by a lack of immediate supply, demand for sustainable fit outs is on the rise, with
This echoes recent JLL Future of Work research, which found two-thirds of organizations globally plan to increase investment in sustainability performance in the next five years. A large part of sustainable fit out costs are dedicated to mechanical and electrical services (M&E services), which, across all countries, were found to account for an average of
Investing in energy-efficient components throughout fit outs and engaging with sustainability experts early in the project planning process can also help ensure sustainability requirements and costs are considered as part of the in the decision-making process, reducing the risk of for late additions or changes to meet sustainability needs.
Optimism around the office, despite caution surrounding potential challenges
Despite the positive outlook, challenges remain for office fit-out development. Local and regional considerations for labor shortages, talent acquisition, material availability and liquidity are all potential hurdles that global companies must navigate to ensure successful project completion. Additionally, amid economic and political uncertainty, instability persists throughout projects globally, largely driven by the potential implications of trade and tariffs. Early planning for lease ends and decisive investment in existing buildings will benefit landlords and occupiers and help to plan for and manage associated costs, as hesitancy around investment has led to tighter timeframes for leasing and capital projects.
"The global office sector faces a complex landscape of challenges and opportunities in 2025," said Ruth Hynes, Director of Research & Strategy, Work Dynamics EMEA. "As corporate clients grow and expand their footprints, we anticipate the office construction will remain active even amid market uncertainty, and encourage early, strategic planning to ensure the success of fit out initiatives."
For more news, videos and research resources on JLL, please visit JLL's newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of
Contact: Allison Heraty
Phone: +1 312 228 3128
Email: allison.heraty@jll.com
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FAQ
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