METHODOLOGY
Introduction
Our global office fit‑out cost guide brings together industry‑leading data and insight to show how workplace costs are shaped, structured and benchmarked across the world. Drawing on a consistent methodology and a unified test‑fit approach, our dataset gives you the power to take core functional cost components and build a capital expenditure budget tailored to your project, your market and your ambition. This year’s guide analyses 58 cities worldwide, providing construction costs across high, medium and low specification levels. We also expand our spotlight coverage to 17 cities, exploring each in greater depth with enhanced functional breakdowns to support more detailed planning and decision‑making.
Key initial notes
The costs contained within this report are:
- Construction costs, including security and structured cabling
- Client‑direct items; loose furniture, audio-visual, and professional fees
- Based on a CAT A and CAT B fit out, assuming a shell‑and‑core starting point
Test fit
In this year’s guide, we’ve kept the same standardised test fit of approx. 4,294m² across two floors. It was used to estimate the high, medium and low construction costs for a CAT A and CAT B fit out. The test fit, which is obtainable here, was measured and priced by our regional cost management teams.
Each specification level, which is obtainable here, was standardised across the globe to ensure consistent pricing. For further reference to the definition of Shell and Core, CAT A and CAT B, please refer to this.
During the design and measurement process, the test fit was broken down into 12 functional categories, namely:
- Business/ Welcome lounge
- Staff breakout/ dining/ tea point
- Collaboration
- Comms/ IT build and store/ copy print/ lockers
- Executive suite
- Meeting rooms
- Boardroom
- Open plan
- Quiet rooms
- Contemplation/ parents’ rooms
- Training facilities
- Water closets (WCs)
Cost model structure
A functional cost model, produced by our Cost Management team, formed the basis of a pricing document and was developed in line with the New Rules of Measurement published by the RICS, namely:
- Internal stairs
- Walls and doors
- Wall finishes
- Floor finishes
- Ceiling finishes
- Fixed joinery and equipment
- Services
- IT and security
- Preliminaries, overhead and profit
For cities in North America, the cost model was priced in line with the CSI Master Format, a standard form of measurement published by the Construction Specifications Institute (CSI) and Construction Specifications Canada (CSC):
- Monumental stair
- Millwork
- Architectural metal and glass
- Ceiling, carpentry, partitions and wall covering
- Access floors and finishes
- Appliances and toilet accessories
- Services
- Data and security
- General conditions, fee and insurance
The client direct packages were included under three elements for all regions:
- Loose furniture
- Audio-visual
- Professional fees
This methodology alongside the test fit and design assumptions was shared with the 58 respective cities. It must be noted that not all cities commonly adhered to the specifications contained within the cost model; however, a similar product representing the same level of quality was priced to allow for a consistent output and global comparability. Upon receipt of the fully priced cost model, each city was compared to Turner & Townsend global benchmarking to confirm alignment within an acceptable tolerance.
Specification levels
Exclusions
- Internal planting
- MEP works related to generator sets, major trading offices or data centres
- Specialist security requirements, such as speed gates
- Software and/or apps for IT, AV and security
- IT networking (eg racks)
- Move management costs
- Landlord lobbies or receptions
- Vertical transportation (eg lifts)
- Reinstatement costs
- All taxes
Definitions
Treatment of foreign exchange (FX) impacts on costs
Overview
This year has seen unusually high volatility in foreign exchange (FX) rates across several of our operating markets. These fluctuations have materially affected the translation of locally incurred costs into USD, making year-on-year comparisons less reflective of underlying operational performance. To ensure transparency and comparability, we have updated our reporting methodology for 2026.
Rationale for presenting costs in local currency first
When FX rates move significantly within a reporting period, USD translated values can appear to rise or fall even when the underlying local currency costs remain stable. This year’s FX environment created exactly that challenge:
- Movements in exchange rates introduced distortions in USD-denominated results.
- These distortions made it difficult to isolate true operational cost changes from currency-driven effects.
- As a result, USD-only reporting, our approach last year, no longer provides a sufficiently accurate view of cost performance.
To address this, we now present all cost data first in local currency, which reflects the actual economic activity in each market without FX noise. USD values are then provided for consolidated visibility.
Why this differs from last year
In the previous reporting cycle, FX rates were relatively stable, and USD-only reporting provided a reliable basis for comparison. However, the magnitude of FX swings this year means that continuing with a USD-only approach would risk misinterpretation of cost trends. The updated methodology therefore enhances accuracy, transparency, and decision usefulness.
Constant currency methodology
To support meaningful year-on-year comparisons, especially in terms of global rankings, we have applied a constant currency approach when analysing cost trends. Under this method:
- Current-year local currency costs are translated into USD using the same FX rates applied in the prior year.
- This removes the impact of FX fluctuations and highlights real cost movements driven by volume, pricing, or operational changes.
- It’s important to note, this method is only applied to global comparisons. The regional cost data in our report is translated into USD using current-day (2026) rates to provide an accurate representation of costs.
2026 FX-Conversions - Market Data
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