Fit-out Cost Guide

2021 HUNGARY
 Contents
Foreword 5
How to use this guide 6
Workplace 8
Floor Plan 10
Standard Specification 12
Premium Specification 14
High End Specification 16
Hard fit-out cost 18
IT Cost 20
Audio Visual 22
Security 24 Welcome to the Hungarian edition
Furniture Cost
Design & Professional Fees
27
28
of the CBRE benchmarking report
Other Fees 31 for 2021 that was developed in
Pricing Assumptions
Project Timeline
32
34
response to our most frequently
Summary 36 asked question: “how much will it
Editors 38
cost to fit-out our office…?”

Special thanks to the CBRE offices of Bratislava,

Bucharest, Vienna and Warsaw for the photos.
2 3
 Foreword
CBRE annually presents an overall Fit-Out Cost
Guide for 56 key EMEA cities.

As the Hungarian office market has a multitude

of unique requirements and specifications, CBRE
Hungary has prepared this country specific guide.

To easily resolve the problems our Clients are facing,

the Fit-Out Cost Guide provides practical answers to
a plethora of projects with varying style. For your
better understanding of the guide, please note that
we used an ideal leased premise of 1,000 sq m with
a rectangular shape.

We assumed 3 different quality levels (Standard,

Premium, High-end) with different technical
parameters. We are still experiencing that the
Landlords offer a sq m based lump sum fit-out
contribution to the occupiers after completing
the shell & core condition of the leased premises.

Therefore, this guidebook will be imperative for

a tenant to foresee if the offered amount will be
enough for the fit-out.

The Hungarian Project Management Team of

CBRE has managed numerous fit-out projects
through the last years therefore the experience
coming from these projects served as a good
basis of the updated calculation.

4 5
 How to use
this guide
This guide has been developed with our Clients
in mind, providing a tool for office occupiers
to look up indicative costs and inform them of
variances in the fit out market in Hungary.
There are several ways to use this guide, some
of which are listed below:

• Capital Planning – The cost guide table

(please see on page No. 19 and 36) can be
used to create stage one budgets.

• Commercial Assurance – This guide can be

used as a tool to verify third party estimates.

• Benchmarking – Using the guide makes it

possible to help Clients in benchmarking.

• Inspiration – We are happy to work for our

Clients to create their own fit-out cost guides,
tailor made to their own design standards.

This guide is a result of the excellent cooperation

between our office agency and project management
team to identify the right fit-out requirements,
supported by our design team.

6 7
 Workplace
Your office is more than just a space: it is 1) Where should your team work? 2) What should your office space look like? 3) Is this change right for me?
the work environment that contributes to
Companies are eager to explore flexible working Our latest Workforce Sentiment Survey shows that It is too soon to tell what kind of impact the new
your employee’s engagement, well-being,
patterns after experiencing its benefits during the employees’ main reason to come to the office is workplace trends will have on the way we work in
and productivity, and it is a symbol for
past year. 87% of large companies are choosing a to meet each other: 60% of large companies are the long run, but there are some steps you can take
what you stand for to the outside world.
hybrid model where employees are splitting their already investing in enhancing their collaboration to minimize your risk: benefit from the learnings
time between working from and working from the spaces. Despite these findings some employees of similar companies that already introduced new
The pandemic changed the way we think
office. However, one size does not fit all: you should may not have the right environment at home to models, analyze your workforce objectively, and
about work, and organizations are looking
choose a model that works for your team taking into focus, and the increase in virtual calls should not upskill your employees with the abilities that are
to leverage their learnings to improve the
consideration their preferences, their abilities, and be discounted either. Before deciding on the right needed to make the most of a new workplace
employee experience while reducing their
their performed functions. ratio of individual and collaborative spaces, an concept. Following these steps can help you be
real estate footprint. Here are the key
investigation of your teams’ needs and working confident in your decision.
questions that need to be answered when
patterns is recommended.
committing to a new workplace strategy:

“60%
of large companies
are already investing
in enhancing their
collaboration spaces. ”
8 9
 Floor plan OPEN SPACE
186,3 m 2
BREAK-OUT
55,9 m 2
OPEN SPACE
159,1 m 2

PHONE

As a floor plan we have chosen an activity based BOOTH

5,3 m 2
COLLABORATIVE
42,2 m2

working environment, which is in line with the

MEETING
ROOM
18,3 m2

CBRE Workplace Strategy. Many organisations are

LIFT LOBBY

STAIRCASE
BUILDING
COMMON

PRINTING
PRINTING
COMMS

19,0 m2
AREA
15,5 m 2
ROOM

now reviewing their spatial requirements based on 5,3 m2

recent trends resulting in subsequent efficiencies KITCHEN

72,9 m2
MEETING
ROOM
18,3 m2

and organisational benefits. We believe that this PHONE

BOOTH
5,3 m 2

space plan is the way to find the best and most CORRIDOR
26,7 m2 'QUIET WORKING' ZONE

efficient office environment. 'GROUPS' ZONE

51,6 m2
RECEPTION
101,2 m2

MEETING MEETING MEETING 83,3 m2

ROOM ROOM ROOM
18,4 m2 18,4 m2 20,0 m 2

An activity based space plan approach can bring BOARD

ROOM
50,0 m2
OFFICE
26,8 m 2

many positives to an organisation. An appropriate

mix of open and enclosed spaces offers a variety
of workspaces to suit individual needs and tasks.

The images in this brochure help to communicate

the benefits of this working environment and also A
the additional flexibility in accommodating the
Area Distribution Area sq m % to the Total Area No. of Workstations
typical reduction or increase in staffing and
project team numbers. Gross office area 1,156

We designed three different quality options to fit Staircase + toilets 156

out of our standard 1,000 sq m leased premise. Open space office area 446 45% 84
These options include general arrangements
assuming standard, premium and high-end fit-out Collaboration area / Groups zone 94 9% 20
specifications based on our experiences in Hungary. Break-Out 56 6%
Tea point 73 7%
Meeting 143 14%
Manager office 27 3% 1
Phone booth 11 1%
Reception area 84 8% 2
Corridor, comms room, printing, etc. 66 7%

Net office area 1,000 100% 107

10 11
 Standard
Specification
• Gypsum board partition walls
• Exposed suspended ceiling in 60x60 cm allocation
• Internal doors with laminated wood surface
• Painted walls
• Low priced floor carpet (Modulyss First type or similar)
• PVC floor covering in the kitchen area
• T5 built in lamps in 60x60 cm size (no design lamps)
• Anemostats (lower price level)
• Server room cooling (3.2 kW, non-redundant without fire extinguishing)
• Vertical blinds (lower quality)

12 13
 Premium
Specification
• Gypsum board partition walls, partly with glass wall sections
(Deko GV type or similar) 75-25%
• Partly exposed suspended ceiling in 60x120 cm or 30x120 cm allocation
(80%), partly monolithic gypsum suspended ceiling (20%)
• Plywood internal doors
• Mainly painted walls, partly wallpaper covering / bigprint
• Medium priced floor carpet (Modulyss Mark-up type or similar)
• PVC floor covering in the kitchen areas
• Built-in LED lamps (generally 30x120 cm size, Philips or similar type)
• Higher quality anemostats
• Server room cooling (redundant system, without fire extinguishing)
• Blinds (with manual operation, medium quality)

14 15
 High-end
Specification
• Gypsum board and glass partition walls (DEKO FG2 or similar type) 50-50%
• Moveable partition wall between meeting rooms
• Partly suspended ceiling with hidden frame in 30 x 120 cm size (60%)
• Wood or metal suspended ceiling (20%)
• Partly monolithic gypsum board suspended ceiling banisters with variable
heights (20%)
• Glass internal doors
• Partly wallpaper coverings, partly design wall graphics, partly wood or
glass wall coverings
• High priced floor carpet (Milliken Naturally Drawn or similar type)
• High quality PVC covering in the kitchen areas
• Suspended direct and indirect LED lamps
• Special high quality anemostats and ventilation grids
• Server room cooling (redundant system including fire extinguishing)
• Blinds with electronic control system (high quality)

16 17
 Hard fit-out cost
Standard Premium High-end
Having the design information and the pricing
Work sq m sq m sq m
document, we estimated construction costs for
all three turnkey specifications.
1. Gypsum walls 19 17 14
The calculation of the construction costs is based on the
quantities measured on the space plan and the Hungarian 2. Glass- and movable walls 0 51 111
market unit prices. Using such information we have put
together our cost estimation answering the FAQ of how 3. Suspended ceiling 45 55 113
much it costs to fitout an office in Hungary.
4. Doors 9 19 34
Please note that our cost samples exclude some
of the fees / costs following: 5. Painting, wall tiles 31 48 122
• IT costs
• AV cost 6. Raised floor 80 80 80
• Security cost
• Furniture 7. Floor tiles and carpet 36 55 65
• Design & Professional Fees
• Moving costs 8. Mechanical works 180 230 290

The shell & core condition - which means the completed 9. Electrical & fire alarm 121 124 126
main structure and enclosure of a building - is assumed
to be provided by the Landlord. 10. Lamps 16 78 195
Furthermore, we assume the landlord to provide - as part of the
rentable office space - the following infrastructures: 11. Custom carpentery works 22 45 64

• Entrance areas 12. Internal shading 7 13 33

• Wet blocks (dress rooms, bathrooms, toilets, etc.)
• HVAC and electrical supply of the leased premises 13. Organisation, cleaning 20 20 20
(connection points at the border of the leased premises)
• Entrance doors to the leased premises Total Cost € 586 € 836 € 1,268

Source: CBRE PJM, Q3 2021

18 19
 IT Cost
Tenants’ IT installations typically include structured cabling, wired and
wireless network equipment. Desktop and laptop computers, multiple
monitors and desk phones are considered user’s equipment and
typically don’t sit within the fit-out budget; however, the placement
of these components is essential to any workplace strategy.

Clients’ existing equipment may not enable changes in the working styles
and practices that are often the driving force behind office relocations,
so proper advice should be taken on how to engage with the latest
technology early in the planning stages. Wi-Fi technology is sufficiently
reliable as a primary method of connectivity for user devices within an
agile working environment, but there will always be a requirement for a
structured cabling system. Structured cabling will typically be installed
within the raised floor and ceiling void to provide connection for fixed IT,
AV, security, and other IP (Internet Protocol) based products.
The growth in integrated and smart buildings is motivating an increase
in IP devices that are network connected. This will need to be given due
consideration when producing technology budgets.

As more and more systems become IP-based the reliance on connectivity

to the Local Area Network (LAN) means that switches and firewalls
are typically procured new rather than relocated during an office move.
One of the drivers for this is that contractors are reliant on network
connectivity to commission IP-based building systems. Wireless access
points installed within or beneath the ceiling void will provide users
with connectivity to the Internet and the resources they need to work
anywhere within the office.

Full Wi-Fi coverage within the office is a key requirement for traditional

€ 65 - € 93 / sq m
and agile office working environments. It is critical that IT budgeting is
considered early in the project and with a holistic view to achieve the
savings that smart building technology, the Internet of Things (IoT)
and systems can offer.
(Excludes taxes and contingency)

20 21
 Audio Visual AV specifications description

Space Type Standard Premium High-end

The use of Audio Visual (AV) continues to rise
Reception area Company information Multiple LED screens Video wall or bespoke
in commercial real estate to facilitate improved
or brand specific displaying specifically installation providing
collaboration between offices. This rapidly
content displayed on developed content bespoke or real-time
advancing technology is now included as standard
LED signage screen information specific to
specification in meeting rooms and huddle spaces.
client brand

In agile office environments, AV is used across Large meeting rooms Single LED screen with Dual LED screen As per the medium
the office space to create a range of platforms wired presentation with the addition of specification with
that enable users to connect and collaborate. facilities and a wireless presentation the addition of HD
In traditional spaces, AV systems are found in desktop conference system, touchscreen videoconferencing
meeting room areas only. The increase in available phone controls and built-in and interactive
technology such as Microsoft Teams, WebEx audio conferencing collaboration tools
and Zoom should be taken into consideration in with ceiling speakers such as touch screen
new project developments to ensure the user LED screens
experience is maximised. The below matrix provides Medium Meeting Single LED screen with Single LED screen Interactive touch
an overview of the core AV infrastructure and rooms wired presentation with wireless screen with wireless
installations which users can expect to find in each facilities and any presentation facilities presentation and dip
specification level. conference phone and any conference conference phone and
phone camera

Small meeting rooms No AV IP desk phone IP desk phone and

camera

Informal meeting No AV Content sharing Content sharing and

screens collaboration screens
Alternative workspace Large LED screen with Wireless presentation Interactive whiteboard,
wireless presentation, to large LED Screen, LED screen and
wipe clean whiteboard video and audio collaboration facilities

€ 85 - € 245 / sq m
conference enabled with immersive
features

Comms rooms Centralised AV Centralised AV Centralised AV

(Excludes taxes and contingency) equipment equipment equipment

22 23
 Security
Occupier security systems normally consist of
electronic access control and Catboat systems will
typically connect over the structured cabling and
network infrastructure.

This removes the need for multiple types of cable

and provides opportunities to interface the security
systems with other Internet Protocol (IP) based
systems. This enables data tube collated, and
workflows created, thus forming the basis of a smart
building. The access control and CCTV systems
monitor the points of entry into the tenant’s office
premise and secure areas including the server
rooms, offices, confidential spaces, or secure
storage. In a multi-tenanted building, the landlord
will have installed security systems to manage
access to the main building and common areas. The
tenant security system can operate as a standalone
system or interface with a compatible landlord
system. This can streamline system administration
and enhance the visitor management process.

€ 22 - € 113 / sq m
(Excludes taxes and contingency)

24 25
 Furniture Cost
Whether you are setting up a new sales office or
a large shared services centre, it is increasingly
important to create an environment that engages,
meets functional needs and enables productivity
as well as supports a sense of community.

In conjunction with operational management, IT

infrastructure, and overall design strategy, furniture
specification can have a substantial impact on
human performance and productivity within the
office environment. As more companies experiment
with some level of agile working, the need to create
diverse and flexible office space has become
critical to the success of offices, their staff,
and overall productivity.

According to our experiences, the decision on how

to specify furniture is unique to every Client, and is
often driven by project needs or the organisation’s
culture. We priced the furniture component of our
1,000 sq m fit-out at 3 different quality levels, which
includes some differences in the lay-out as well
(for example collaboration area).

€ 95 Standard

€ 195 Premium

€ 415
Per SQ M
High-end

26 27
 Design &
Professional Fees
The table below shows design and
professional fees in percentage based
on our benchmarks in Hungary.

The fees are to be calculated with these percentages

on top of the capital costs. Design fees include the
cost of the architectural design, mechanical and
electrical design services (M&E).

Cost of Cost of Cost of

Standard Premium High-end

Planning fees 6% 7% 8%

PM Fee 7% 7% 7%

Total 13% 14% 15%

28 29
 Other Fees
We would like to highlight that there might be some
extra cost elements necessary because of unique
technical requirements of the company.
Such extra technical elements are to be specified
and tailor made to each Client therefore the fitout
cost guidebook excludes these extra costs.

Please find below the extra cost elements without

any completeness:

• UPS for server and/or workstations

• special fire protection system for server room

• facility elements such as glassware and cutlery,

water and coffee machines

• cost of move

Cost of move

€ 30 - € 90 Per workstation

30 31
 Pricing
Assumptions
We made the following main assumptions
to the cost estimation:
• The building is located in the central
business district.
• The project design and building are
considered to hold no abnormalities.
• This is a generic design that does not
take into account any company or building
specific requirements.
• Costs assume that the base building has the
necessary infrastructure to support the fit-
out.For example, sufficient HVAC and power
supply at the border of the leased premise.
• The base date for the pricing information
in this document is September 2021.
• Exchange rates from September 2021
applied to cost data to present it in Euros.
32
• The fit-out cost calculation excludes the
cost of the common areas (lift lobbies) and
the wet blocks, which are to be placed in the
middle block of the leased premise.
• The basic fit-out cost calculation method
excludes the demolition and furniture costs
(the furniture cost is detailed on page 16).
• The basic fit-out cost calculation method
includes IT cabling / server cooling and
audio-visual technology costs defined to the
different fit-out quality. These costs might to
be allocated to different budget, as these are
not really connected to the fit-out works of
the landlord.
33
 Project Timeline

Weeks
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49

State of project

Inception / Workplace Building selection Concept Desing Detail Design (LL) Tendering & Site prep.

Typical Construction Period Snagging Tenant Installations & Move Period Start of Operation

Above timeline does not include tenant specific approval lead times.

Development of the fit-out budget, time schedule
and key milestones need to be defined as prime
elements for initial business case approval.
Programming the life cycle of any project requires
careful consideration, as no two projects are the
same. There are many factors that need to be
considered for each project causing either positive
or negative influences on the schedule.
Acceleration measures can be always considered as
well but with every effort to speed-up the process
there is a certain risk concerning cost, and quality.
CBRE professionals would always advocate involving
a project manager at the earliest possible point.
Doing so would definitely help to optimize your
client’s programme and to minimise project risk.

34 35
 Summary

Standard Premium High-end

Specification Specification Specification
926 1,429 2,317
€ / sq m € / sq m € / sq m

Fit-Out Cost € / sq m 586 836 1,268

IT Cost € / sq m 65 78 93

AV Cost € / sq m 85 150 245

Security Cost € / sq m 22 55 113

Furniture € / sq m 95 195 415

Professional Fee € / sq m 75 114 184

Other fees tbc tbc tbc

Source: CBRE PJM, Q3 2021

36 37
Editors

Eszter Szabó Csongor Kozma Barna Harangi

Senior Workplace & Change Senior Project Manager Associate Director, Head
Management Consultant of Project Management &
Building Consultancy

Support

Lóránt David M.Johnston Anikó P. Kovács Barnabás Tóth

Kibédi-Varga Senior Director, Head of Director, Head of Advisory Director, Head of Marketing
Managing Director Advisory and Transaction & Transaction Services, & PR
Services Offices

Disclaimer 2021 CBRE

CBRE Ltd has taken every care in the preparation of this report. The sources of information used are believed to be accurate and reliable, but no
guarantee of accuracy or completeness can be given. Neither CBRE, Haworth, nor any director, representative or employee of CBRE company,
accepts liability for any direct or consequential loss arising from the use of this document or its content. The information and opinions contained in
this report are subject to change without notice. No part or parts of this report may be stored in a retrieval system or reproduced or transmitted in
reprographics, recording or otherwise, now known or to be devised without prior consent from CBRE.