The International Construction Costs 2018 report recently published by Arcadis, the leading global Design & Consultancy firm for natural and built assets revealed the details and ranks the relative cost of construction in 50 of the world’s major cities.
According to the report, Hong Kong is the most expensive city in Asia, followed by Macau and Singapore.
Overall, San Francisco, New York and Hong Kong were the top three most expensive cities in which to build in the world.
The relative strength of the US dollar is a key factor influencing the positioning of cities in the index this year.
The strong dollar places North American cities higher in the index compared to markets where the domestic currency is relatively weaker.
Based on the report, herewith the Asian cities ranking in Arcadis’ 2018 International Construction Costs Index:
Also attached is the forecast construction industry value in real growth, all around the world:
Other important highlights of the report are:
1. The comparative cost assessment of 50 cities is based on a survey of constructions costs undertaken by Arcadis covering 13 building types.
2. Costs are representative of the local specification used to meet market needs.
3. The building solutions adopted in each location are broadly similar and, as a result, the
cost differential reported represents differences in the specification as well as the cost of labor and materials. Construction costs are current as of Q4 2017.
Source : Arcadis