2025 Canada Guide Highlights
Cushman & Wakefield’s Office Fit Out Cost Guide looks at costs for projects across four Canadian cities.
In 2025, key findings of this report include:
- Flight to quality continues to trend across major markets in Canada.
- Occupiers intending to lease high-quality offices will be affected by slower new construction activity, meaning they will need to consider fit outs over new construction.
- Approximately 80% of general contractors surveyed in the region feel clients are spending as much or more on ESG features compared to recent data. This accelerated spend has contributed, in part, to price increases in commodities used for electrification.
- Finding skilled talent remains a challenge.
Costs per markets surveyed were the following:
- Toronto at $210.09/psf (up from $200.54/psf)
- Montreal at $189.25/psf (up from $183.74/psf)
- Vancouver at $180.20/psf (up from $170.83/psf)
- Calgary at $146.07/psf (up from $141.81/psf)
Calculating a Market’s “All-In” Costs:
Fit out construction costs mentioned above and published in our guide are limited to physical construction. Most of our projects have other cost categories including soft costs, low voltage cabling (IT, A/V, and Security) as well as Furniture, Fixtures & Equipment that make up a total project spend. This year, we are pleased to provide additional thought leadership by providing users with a process to arrive at an “all in” fit out project cost.
This year, we've introduced a comprehensive method to help users determine the “all-in” fit out construction cost by providing general ranges for these additional expenses. Below is an example for a Tier 1 market, utilizing a percentage of hard cost calculation. Additionally, high and low ranges are provided as an alternative to the percentage of hard cost calculation. For details on other market tiers, please refer to the 2025 Office Fit Out Cost Guide. Keep in mind that these ranges may need further adjustments based on the specific scope of your project. For instance, if your space includes a telepresence room, the Audio Visual (A/V) and IT costs might exceed the high range to accommodate the specialized requirements of that feature.
OUR SERVICES
Cushman & Wakefield offers a range of services to help you create your ideal office space. We are a trusted partner for occupiers and investors managing their capital expenditure and project delivery across the Americas. By providing consistent, trusted client service, we have created an excellent reputation locally, across Canada and globally. Our experienced team can guide you through the entire fit out process from concept to completion.
Project & Development Services
Global Occupier Services
Total Workplace Consulting
WHY CHOOSE US?
Project & Development Services (PDS) clients require skilled project and development teams that can transform any idea or strategy into a tangible reality in the built world. This means going above and beyond to find practical solutions that outthink and outdo the most difficult construction challenges facing our clients and communities. Our Project & Development Services (PDS) teams deliver end-to-end solutions globally, living out Cushman & Wakefield’s ethos of “Better never settles.” We’re not just conceiving of some of the biggest and brightest projects—we're bringing them to life.REGIONAL TEAM CONTACT
Our team is here to support you through the fit out process. Contact a regional team lead to learn more about our services and how we can help you create your ideal workspace.
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