JLL: High building material prices, office renovation costs in Asia Pacific continue to rise

According to the Intelligent Financial News APP, the latest release of the "2026 Asia-Pacific Office Renovation Cost Guide" by JLL shows that due to the increase in metal building material prices caused by tariffs, the renovation cost of standard office buildings for enterprises in Hong Kong has increased by 1.5% to $200 per square foot year-on-year, equivalent to about HK$1566 per square foot. The report points out that the renovation costs of office buildings in several cities in the Asia-Pacific region continue to rise, mainly due to tight labor supply, high building material prices, and increasingly complex mechanical and technological systems.