Average office real estate fit-out cost in Canada 2022-2023, by city
The cost per square foot of an office fit-out rose across all four Canadian cities under observation in 2023. Fitting out an office space was most expensive in Toronto, where it cost about 201 Canadian dollars per square foot. The fit-out costs in Montreal and Vancouver was 170 and 184 Canadian dollars per square foot, respectively. In contrast, Calgary had significantly lower costs, at just under 142 Canadian dollars per square foot. A complete office fit-out includes the transformation of an empty space into a suitable office environment, including the necessary structures, electrical furnishings, mechanical equipment, and furniture.