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Office Fit Out Cost Guide 2024 Office Fit Out Cost Guide 2024


Office Fit Out Cost Guide

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What is an office fit out?   |   Office Fit Out vs Office Refresh   |   Factors Impacting Office Refurbishment Costs   |   Benefits of an Office Fit Out   |   FAQs   |   Our Services   |   Why Choose Us?   |   Contact us

Office Fit Out Cost Guide / South Korea 2024

Against a volatile economic backdrop, the Asia Pacific office market remains steadfast and continues to grow, with a broadly positive outlook. The need to innovate and evolve has not diminished. Companies are striving to meet their Environmental, Social, and Governance (ESG) targets, and new modes of working embrace flexibility, collaboration, and innovation, while fostering diversity and inclusion. The office is central to many of these transformative processes, with an increasing focus on building quality, fit out design, and raw material selection.

This year’s Guide takes a closer look at 33 key cities across the region, as well as:

  • Key considerations for a best-in-class office fit out: creating office value, inclusive and sustainable design and partnership with landlords
  • Cost estimates of three different styles of fit outs to cater to the post-pandemic workforce
  • A comprehensive fit out cost breakdown that includes furniture, mechanical and electrical works, construction works, IT, audio visual and miscellaneous costs
  • Three different levels of reinstatement costs, together with average retrofit costs

What is an office fit out?

An office fit out refers to the process of making an interior space suitable for occupation. It involves the installation of various elements such as furniture, mechanical and electrical systems, and other miscellaneous items to create a functional and comfortable workspace.


Office Fit Out vs Office Refresh: What’s the Difference?

An office refresh and an office fit out address the improvement of workplace environments but differ significantly in scope and execution. An "office refresh" is a less extensive, more cosmetic update aimed at revitalizing an existing space. It typically involves aesthetic enhancements such as painting, updating furniture, or improving lighting, without making structural changes. The goal is to modernize the workspace, improve functionality, or boost employee morale with minimal disruption and cost.

In contrast, an "office fit out" refers to preparing a commercial interior space for occupation, especially after a significant change like relocation or a major renovation. It can range from installing basic infrastructure (flooring, ceilings, electrical systems) to incorporating comprehensive design elements (furniture, technology, brand-specific decor). Fit outs are more complex, time-consuming, and costly, often involving structural modifications to align the space with specific operational requirements, brand identity, and sustainability goals.

What is an office fit out? 
Office Fit Out Trends

Factors Impacting Office Refurbishment Costs

The cost of an office refurbishment can vary depending on several factors, such as:
  • The size and location of your office space: The larger and more central your office space is, the higher the cost of refurbishment will be. This is because you will need more materials, labour and time to complete the project. You may also need to pay more for permits, fees and taxes depending on your local regulations and requirements.
  • The scope and complexity of your project: The more extensive and intricate your project is, the higher the cost of refurbishment will be. This is because you will need more specialised skills, equipment and expertise to execute the project. You may also need to hire more contractors, consultants and suppliers to assist you with the project.
  • The quality and quantity of your materials and finishes: The higher the quality and quantity of your materials and finishes are, the higher the cost of refurbishment will be. This is because you will need to pay more for premium products, brands and services that offer durability, functionality and aesthetics. You may also need to pay more for customisation, installation and maintenance of your materials and finishes.
  • The timeline and schedule of your project: The shorter and more urgent your project is, the higher the cost of refurbishment will be. This is because you will need to pay more for overtime, rush orders and expedited deliveries to meet your deadlines. You may also need to pay more for disruption, relocation and contingency costs to minimise the impact of your project on your business operations. 

Benefits of an Office Fit Out

  • Enhances Employee Productivity: An office that is designed to meet the needs of its users can significantly boost productivity. By considering environmental psychology, neurodiversity, and personality types, a fit out ensures that employees have spaces that allow them to be their most productive.
  • Fosters Collaboration and Socialization: The office environment plays a crucial role in facilitating human connection. A well-designed fit out provides various spaces for collaboration and socialization, which are essential for innovation and team cohesion.
  • Supports Individual Needs: Recognizing and accommodating individual differences in how space is used enhances the overall workplace experience. This tailored approach ensures all employees feel included and able to work in a way that suits them best.
  • Contributes to Corporate Sustainability Goals: Fit out design can significantly impact a company's sustainability and inclusiveness objectives. By aiming for accreditations like LEED, WELL, and Fitwell, businesses can ensure their office spaces meet high standards of sustainability and performance.
  • Attracts and Retains Talent: A well-designed office can enhance the workplace experience, making it more appealing for employees to come to work and encouraging them to return. This aspect is critical for talent attraction and retention, especially in competitive industries.
  • Optimizes Real Estate Value: Selecting the right building in the right location with a strategic fit out design can create value by aligning with cost, talent, and environmental, social, and governance (ESG) drivers. This ensures a sustainable and profitable use of space.
  • Encourages Partnership for Sustainability: Collaboration between corporate occupiers and landlords in the fit out process can help achieve broader sustainability goals and create social value, contributing to a positive impact beyond the company itself.
  • Improves Employee Wellbeing: Office design that focuses on wellbeing can lead to healthier, happier employees. This includes creating spaces that support the separation of personal and work lives and providing access to tools and resources for focused work.
  • Boosts Company Image: A modern and thoughtfully designed office reflects positively on a company's brand. It shows commitment to employee wellbeing, sustainability, and innovation, enhancing the company's reputation among clients and potential employees alike.


Global economic resilience amidst geopolitical tensions has pushed companies to innovate. This includes focusing on environmental targets and adopting new work modes, significantly impacting office fit out designs and material choices.

When planning an office fit out, companies need to carefully consider their capital planning and relocation budgets. The guide offers detailed cost sections for furniture, mechanical & electrical works, builder works, audiovisual/IT, and miscellaneous costs to aid in this planning.

Although raw material costs have seen a decline, supply chain stress—exacerbated by European conflicts and shipping disruptions—has led to higher shipping costs and potential inflationary pressures, affecting overall fit out expenses.

Office fit outs are categorized into Basic Hybrid, Collaborative Hybrid, and Advanced Hybrid, differing in assigned workstations, flexibility, support functions, and technology integration to meet varying company needs.

Designing inclusive office spaces requires considering environmental psychology, neurodiversity, and personality types, moving beyond DEI to foster a genuine sense of belonging among employees.

By occupying buildings with high sustainability credentials and seeking fit out design accreditations like LEED, WELL and Fitwell, companies can align their office environments with broader sustainability and employee well-being objectives.

Partnerships focused on mutual sustainability goals and enhanced tenant experiences can be fruitful. Sharing data, adopting green leases, and co-investing in capital upgrades are strategies that can improve asset sustainability collectively.

An effective office fit out enhances productivity, fosters innovation, and supports employee connection. It plays a vital role in achieving sustainability, inclusiveness, and providing a balanced work-life environment.

While the guide offers a baseline with estimated market average costs, companies are encouraged to consult with Project & Development Services professionals for precise costings tailored to their unique construction requirements.

Our Services

At Cushman & Wakefield, we offer a range of services to help you plan and execute your office fit out project. Our team of experts can provide guidance on Project & Development Services, Global Occupier Services and Total Workplace Consulting. We have a strong reputation in the Asia Pacific region and are committed to helping our clients achieve their goals.

Project & Development Services

We provide a full suite of project delivery services. From end-to-end project management, workplace design and fit outs, project management office, building consultancy, and technical due diligence.
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Global Occupier Services

In today’s world, where and how you work is more important than ever. We work hand-in-hand with you to craft an approach that speaks specifically to your organization’s goals and your people’s priorities.
Learn More

Total Workplace Consulting

Total Workplace consulting brings together thought leadership, strategy, and guidance to help both occupiers and investors to address how work is changing, where people live, work and play, and what the implications are for real estate.
Learn More

Why Choose Us?

At Cushman & Wakefield, we are experts in the field of office fit outs. Our team of professionals has the knowledge and experience to help you navigate the complexity of the current office sector and achieve your goals in cost, carbon, and culture. We are committed to providing exceptional service and delivering outstanding results for our clients.

Local Team Contact

To find out more about our office fit out services and how we can help you transform your workplace, please fill out the contact form below and we will get back to you as soon as possible. 


Todd Hanrahan
Jaehong Lee

Head of Project Management • Korea, Republic of

Access the guide

In this guide we provide you with a comprehensive office fit out cost breakdown.                                          

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To learn more about our services or to request a consultation, please get in touch with us today.               

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