India becomes the cheapest office fit-out market in Asia-Pacific: Report
India emerges as Asia-Pacific's most affordable office fit-out market, with costs ranging $65-$73 per sq ft, significantly lower than Tokyo, Sydney, and Singapore
New Delhi (The Uttam Hindu): India has once again proven its strong position in the Asia-Pacific region, establishing itself as the most affordable office fit-out market. According to a new report, India offers global companies a strong combination of low cost, scale, and superior quality. According to Cushman & Wakefield's 'Asia Pacific Office Fit-out Cost Guide 2026' report, office fit-out costs in major Indian cities range between $65 and $73 per square foot. This cost is significantly lower than major markets like Tokyo ($215), Sydney ($161), and Singapore ($140).
The report highlights that India's ability to develop high-quality and modern workplaces at scale, despite its low cost, is making it an increasingly attractive choice for global companies.
Shashi Bhushan, Executive Managing Director, Cushman & Wakefield, said that India is at the forefront not only because of its low cost but also because of consistent quality across cities and strong delivery capabilities. He explained that as companies are looking for better and modern office space, India's cost advantage becomes even more important. India's position is strengthening amid global supply chain changes and the impact of energy prices. According to the report, demand for prime office space in 27 markets of Asia-Pacific is expected to reach 92 million square feet in 2025, up from 76 million square feet in 2024.
India has played a key role in this growing demand. The country's top eight cities account for nearly two-thirds of the region's total office demand, reflecting the strength and stability of India's market. India also leads in terms of supply. By the beginning of 2026, approximately 386 million square feet of office space is under construction in the Asia-Pacific region, of which approximately 192 million square feet is being built in India's top eight cities.
The report states that companies are no longer shying away from office investments, but are making informed investments. India offers them superior cost, quality, and expansion capabilities. However, Mumbai remains the most expensive market in the country, with office fit-out costs averaging around $73 per square foot. This is due to strong demand from multinational companies, financial institutions, and Global Capability Centers (GCCs) seeking premium office space.