Office fit-out costs in the Americas rose by an average of 5.5% in 2026, driven by rising material costs, stricter technical requirements, and an increase in highly specialized corporate projects, according to the latest “Office Fit Out Cost Guide 2026 – Americas” report from Cushman & Wakefield.
In this context, Peru remains among the most cost-competitive markets in Latin America, alongside countries such as Argentina, Brazil, Colombia, and Chile. The study also reveals that Peru recorded one of the lowest annual increases in fit-out costs, with growth of approximately 2% over the past year.
“Today we see that many companies are no longer looking solely for a functional office. There is a greater priority on spaces that are more collaborative, flexible, and focused on employee well-being. The incorporation of technology, connectivity, meeting rooms, and workstations has become key within corporate projects.”
The executive added that the local context is also driving higher corporate occupancy in Lima.
“Megaprojects such as the new port of Chancay and the new Jorge Chávez Airport are generating interest from international companies that are evaluating or leasing office space in the capital. This represents a significant opportunity for the Peruvian corporate market.”
Companies Prioritize Modern, Collaborative Offices
The report also reveals a significant shift in corporate preferences. Although new office development in the Americas is at one of its lowest levels in the past 25 years, demand continues to focus on high-quality, modern buildings with better amenities.
In Lima, the sectors currently driving corporate demand are banking, technology, industry, and fishing, particularly companies seeking more efficient offices in better locations with enhanced amenities for their teams.
A basic office can cost around US$600 per square meter, while a standard setup reaches approximately US$800 per m². In premium spaces or those with high technological requirements—such as law firms or international corporations—costs can exceed US$1,200 per m².
Regionally, San Francisco, San José, and Seattle continue to lead the ranking of the most expensive markets for office implementation, exceeding US$2,300 per m². In contrast, Latin America continues to position itself as one of the most cost-competitive regions for corporate office implementation.
