Global occupier fit-out report 2023

Global occupiers are facing the challenge of how to create workspaces for a fast-changing world. The need to attract, retain and support talent while also driving cost efficiencies and productivity is not an easy equation to solve.

Cultural and lifestyle trends are combining with tech innovations and economic headwinds to create a new landscape for businesses. These dynamics may not be new but have been accelerated by COVID-19 disruption and the volatility that has been seen since, with the geopolitical and economic backdrop remaining unsettled. 

Social change coupled with an ongoing sense of ‘perma-crisis’ have heightened expectations and pressure on businesses to support more flexible and digital ways of working, while also protecting business interests and maintaining stability. 

In an era where businesses are facing so much uncertainty, they need to ensure that they are spending money in a way that creates best value and maximum impact for both people and operations.

While demand to both refit existing space and fit-out new space remains high, businesses are being cautious and considered in how they do this – and they require a greater level of visibility on what targeted investments will cost.

Making the right choices relies on having good quality data to underpin business cases and make carefully costed assessments. This report caters to this need by providing a deep dataset to help guide companies as they look to understand budgets and optimise spend.

Our research has pulled together data from 42 markets worldwide, so clients in every region can weigh up the average costs for different specifications – high, medium and low – and create workspaces that suit their needs, budgets and cultural objectives.

We have also published a detailed dataset for 15 spotlight markets, for which we have provided a full breakdown of costs within each functional zone of a floorplate. This includes average costs for walls and doors, ceiling finishes, services, IT and AV - enabling occupiers to understand the relative costs of investments in different zones. 

Data at this granular level is more important than ever as clients seek to align their workspace to a range of organisational goals, from productivity to talent retention, cost efficiency, sustainability and flexibility. 

We hope our report arms you with the data and intelligence you need as your workplace strategy evolves.