Project Cost Outlook 2025/2026

Despite the varying inflation rates, the fit-out costs in Asia Pacific (APAC) have stabilised through the first half of 2024. Inflation is expected to be mild, with countries regaining control after previous surges. Interest rate adjustments by central bank across the regions may have boosted project commencements. The economic growth projections for 2025 is positive, with fit-out costs expected to remain stable in several key markets through 2026.

Major cities like Singapore and Sydney may face short term price fluctuations in 2025, primarily due to skilled labour constraints. While other cities like Seoul, Taipei, and Mumbai might expect more significant cost increases in 2025 before levelling off in 2026.

In collaboration with industry partners, we’ve developed insights into the latest fit-out costs, key trends, and regional perspectives from eight different cities across APAC.