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Asia Pacific Fit-Out CostGuide 2025 jll.com Asia Pacific Fit-Out Cost guide: Overview JLL’s 2025 APAC Fit-Out Cost Guide reflects the region'sunique characteristics, from the tech-driven markets ofSingapore and South Korea to the manufacturingpowerhouses of China and Vietnam and the service-oriented economies of India and the Philippines. We see aregion that is poised to adapt to evolving economic shifts,actively transforming its built environment to anticipateand meet the changing demands of businessesand employees. Concurrently, APAC's position as a global technology hubis evident in office fit-outs, where smart building solutionsand advanced collaboration tools are becomingstandard features. 58% JLL's guide offers an in-depth analysis of trends, costbreakdowns in U.S. dollars (USD), cost drivers, market-specific insights, and forward-looking perspectives. It aimsto equip industry professionals with the knowledge andforesight needed to navigate the complex yet dynamicworld of APAC fit-outs. of organizations in APAC plan to increaseinvestment in space design and fit-outs over thenext five years. APAC'scultural diversity necessitates a nuancedapproach to office design, balancing local preferenceswith global standards. This cultural adaptability is crucialas companies strive to create spaces that resonate withtheir local workforce while maintaining a cohesive globalbrand identity. Sustainability has transitioned from anaspirational goal to a fundamental requirement. This shiftis significantly influencing both design choices and costconsiderations across the region The APAC region stands at a crossroads in 2025, withglobal trade tensions and an evolving policy landscapeshaping an uncertain economic outlook. As this reportpresents costs based on Q1 2025 data, it is important torecognize that current pricing may deviate from thesefigures due to the rapidly changing trade environment andits ripple effects across the region. APAC Fit-Out Cost Guide coverage-14 markets, 27 citiesAverage Fit-Out Cost in APAC-$1,524/sqm Executive summary Cost driversin APAC2 Increasing focuson sustainability1 Localization bufferseconomic uncertainties3 “Flight to quality” isthe new norm4 72% of JLL Cost Management leadssurveyed reported an increased demandforsustainable fit-outs, driven byenvironmental regulations, localgovernment initiatives, and growingemployee demand foreco-friendly workspaces. While inflation concerns persist, theindustry is adapting through localizedsupply chain solutions, potentiallybuffering against global economicheadwinds and managing pricepressures effectively. Fit-outcosts have increased across mostAPAC markets in the last 12 months,driven by inflation, increased materialcosts,and currency volatility. Organizations are prioritizinghigh-quality spaces with enhancedtechnology and wellness features. Thisshift is being driven by talent attractionandretention, evolving employeeexpectations,and brand alignment indesign. 64% of APAC markets reportedincreased material costs, while 43%reported labor shortages.Demographicvariations, from Japan's agingpopulation to India's young workforce,have created inconsistent labordemand-to-supply ratios.Foreignexchange volatility has impacted importcosts, exacerbating price fluctuations. Value engineering, specificationrefinement,and local sourcingaregaining prominence as strategies tomitigate currency risks,supply chaindisruptions, and tariff-relatedcost uncertainties. The focus on creating innovative,employee-centric workspaces reflects astrategic investment in uplifting humanexperience and organizational culture,recognizing the long-term benefits ofwell-designed environments. Increasing sustainability requirements areputting upward pressure on fit-out prices.Despite higher upfront costs, companiesview this as a strategic investment inlong-term value to achieve their pledgedgoals and commitments, operationalefficiency, and resilience. The macro view Uncertainty surrounding U.S. tariff policy, particularly potential escalations beyond the current 10% baseline, poses a realrisk to cost structures, supply chain stability, and investmentsentiment across the region. While somemarketslike China are already seeing impacts, the potential for reciprocal tariffs adds further unpredictability to project planning.In thisenvironment, decision-making becomes more cautious, and flexibility in procurement becomes key. Despite these headwinds, the APAC region remains relatively well-insulated and poised for continued economic resilience. Strongdomestic consumption, supportive demographics,and ongoing urbanization trends are expected to drive growth in 2025. Unemployment rates remain low in most APACmarkets, resulting in continued pressure on labor costs. Manycentral banks in the region are expected to maintain or slightly ease interest rates, supporting investment activity. Structural fundamentals across APAC, ranging from government support for innovation to deman