In third quarter 2025, the cost of prime office space* around the world rose 0.8 percent, taking the total average increase in costs over the past 12 months to 3.3 percent, according to Savills’ latest Prime Office Costs report.
According to Savills, 25 of the 40 markets it monitors saw average net effective “all-in” occupier costs (rent plus fit-out costs) grow this quarter (up from 24 in second quarter). This increase has been driven by an average 0.9 percent uptick in gross rents globally over the quarter, while fit-out and associated costs remained relatively flat, seeing only an average 0.03 percent rise.
In Asia Pacific, average net effective costs for prime offices rose 1 percent in third quarter, although Savills identified significant interregional variations: Cities in China saw an average -1.9 percent reduction in costs, due to significant oversupply of space and fragile economic confidence. Meanwhile, Kuala Lumpur, which had already seen a 4
