Hong Kong tops priciest office fit-out markets in Greater China for third consecutive year

The average cost of an office fit-out in Hong Kong was at $1,081.61.

Hong Kong remained the top  most costly office fit-out markets in the Greater China region for the third consecutive year, global real estate services company, Cushman & Wakefield, revealed.

On the firm’s 2022 Asia Pacific Office Fit-out Cost Guide, the average price of an office in Hong Kong was $1,081.61 (US$138). 

Following Hong Kong is Shenzhen with an average office fit-out price of $932.70 (US$119), Beijing with $917.02 (US$117), Guangzhou with  $901.35 (US$115), and Shanghai with $839.51 (US$114).

Meanwhile, in Asia and the Pacific, Hong Kong ranked fifth in terms of the priciest office fit-out markets.

Bryant Cheung, chief of project & development services in Cushman & Wakefield Hong Kong, said corporate relocation is still prevalent even as many occupiers are still cautious due to the capital expenditure requirements.

“In turn, landlords are adopting new measures to incentivize and facilitate occupier movements,” added Cheung.

$1 = US$0.13