Bands by family
| Family | Indicative cost per m2 | Reading note |
|---|---|---|
| Offices, shell and core | EUR 1,200 - 1,800 | Building finished in common parts, open floors |
| Offices, interior fit-out | EUR 850 - 1,600 | From basic to executive level (Milan and Rome 2026 references) |
| Hotels, construction | EUR 1,800 - 3,000 | Strong dependence on category; cost per room is the true indicator |
| Retail, fit-out | EUR 600 - 2,000 | From neighbourhood shop to flagship |
In commercial work more than anywhere else, per-m2 figures must be stated with their scope: shell and core, fit-out and reinstatement are three different budgets that add up over the property's life cycle, and mixing them is the most common comparison error. Comparing two figures without that qualifier is meaningless.
Offices: two budgets in one
Office buildings are estimated in two stages. The shell and core (structure, envelope, primary services, common parts) is the cost of the container. The interior fit-out (partitions, ceilings, secondary services, data, technical furniture) is the cost of inhabiting the office, and its share grows with the technology component: mechanical, electrical and IT items now exceed 40 per cent of fit-out budgets. Bands, levels and a per-floor budget example are in the article on office construction costs per m2.
Hotels: think per room
In hospitality the m2 is a weak indicator: the industry metric is the cost per room, which integrates common areas, services and FF&E into a single figure comparable across properties. Category rules: between a functional three-star and a five-star, the cost per room can vary threefold. Bands by category, cost shares and a typical cost framework are in the article on hotel construction costs.
Retail: the format writes the estimate
In retail the cost depends on the format more than on the metres: a neighbourhood food store, a shopping centre chain unit and a high street flagship have incomparable fit-out logics. The constants are speed (site days are lost trading days) and the weight of visible finishes. The article on shop construction and fit-out costs organises the bands by format with the recurring items.
Worked example: fitting out a 600 m2 office floor
An open floor delivered shell and core, mid-level fit-out for 48 workstations. The example runs from the shell to the delivered workstation.
| Item | Calculation | Amount |
|---|---|---|
| Building and services fit-out | 600 m2 × EUR 1,250 | EUR 750,000 |
| Mechanical, electrical and IT share (within the fit-out) | ~42% | EUR 315,000 |
| Professional fees and project management (10%) | 750,000 × 0.10 | EUR 75,000 |
| Indicative total | EUR 825,000 | |
| Cost per workstation | 825,000 / 48 | ~EUR 17,200 |
The cost per workstation is the figure the occupier's business plan actually recognises: comparing two fit-out proposals on that value, at equal density and level, is more reliable than comparing square metres. Note also the services and technology share: having stably crossed the 40 per cent threshold of the budget, it is the item to specify first in the brief, because it is where offers diverge the most.
How to frame a commercial budget
Three practical rules apply across the segment. State the scope (shell and core, fit-out, reinstatement) before any comparison. Think per functional unit (workstation, room, sales point) as well as per m2, because the unit is what the operation's business plan recognises. And anticipate the equipment imposed by the intended use (fire safety, accessibility, acoustics), which in commercial work are not options but opening prerequisites: discovering them at an advanced design stage is the segment's main source of extra costs.
Note: the figures shown are 2026 orders of magnitude for the Italian market, for guidance only. Every project requires a specific estimate based on a bill of quantities and up-to-date regional price books.