The European office market maintains its resilience despite the economic fluctuations experienced in recent years. Although interest rates remained high throughout 2024, an increase in office rentals was observed, especially with the interest rate cuts in the second half. While the demand for qualified, easy-to-reach, environmentally friendly office spaces is increasing, a promising picture is drawn for 2025. However, considering the increase in fit out costs, companies need to be more careful in their budget planning.Translated with DeepL.com (free version)
Cushman & Wakefield’in hazırladığı EMEA Office Fit Out Cost Guide 2025 raporuna göre, Avrupa genelinde 2024 yılında 10,3 milyon m² ofis alanı kiralandı ve bu rakam bir önceki yıla göre %5 artış gösterdi. Grade A kalite binaların payı %50’ye ulaşırken, ESG (Çevresel, Sosyal, Yönetişim) kriterlerine uygun projelere yatırım yapan şirketlerin harcamaları da arttı.
Forecasts for 2025 suggest that the downward trend in interest rates will continue, capital expenditures will increase and the rate of rent growth will slow to 2.1%. However, the fact that inflation has not been completely reined in shows that fit out costs are still under upward pressure.
The main reasons for the increase in fit out costs:
For example; In 2025, office fit out costs at mid-level standards in some cities are as follows:
The report defines three main fit out standards:
In the long term, fit out investments are of strategic importance not only in terms of cost but also in terms of employee experience, ESG compliance and office efficiency. Companies planning to renovate or relocate office space in 2025:
Source:
Cushman & Wakefield, EMEA Office Fit Out Cost Guide 2025
