Hong Kong ranks 4th in APAC on office fit-out costs

Globally, Hong Kong ranked 28th.

Hong Kong ranked fourth in the Asia Pacific for average office fit-out cost at $1,040 (US$133) per sq ft, following Tokyo, Singapore, and Sydney, according to JLL's Global Office Fit-Out Costs Guide 2025.

Globally, Hong Kong ranked 28th, whilst New York ranked first. In the Asia-Pacific, Tokyo has the highest fit-out costs, averaging $1,753 (US$224) per sq ft.

According to JLL, Asia Pacific has the highest proportion of organisations planning to increase fit-out investment, with India and Australia leading at 74% and 72%, respectively, significantly above the global average of 59%.

"Despite rising labour costs, material costs remained relatively stable, and competition to secure projects intensified. These factors contributed to the stability of office fit-out costs in Hong Kong last year. The slowdown in fit-out activity since early this year has further intensified market competition,” Ryan Wong, head of Project and Development Services at JLL in Hong Kong, said.

“Contractors are increasingly willing to lower their bids to secure projects, a trend expected to persist throughout the second half of 2025. We anticipate a notable reduction in fit-out costs in 2025 compared to last year,” Wong added.