The International Construction Costs 2018 report, recently published by Arcadis, a number one global design and consultancy firm for natural and built assets, revealed details and rankings of the relative construction costs on this planet’s 50 largest cities.
According to the report, Hong Kong is the most costly city in Asia, closely followed by Macau and Singapore.
Overall, San Francisco, New York and Hong Kong ranked in the highest three cities with the very best construction costs on this planet.
A key factor influencing cities’ position within the index this 12 months is the relative strength of the US dollar.
A powerful dollar places North American cities higher within the index in comparison with markets where the domestic currency is comparatively weaker.
Based on the report, we present the rating of Asian cities within the Arcadis international construction cost index for 2018:
The attachment also includes the forecasted value of the development industry in real terms worldwide:
Other highlights of the report include:
1. The comparative cost assessment of fifty cities is predicated on a construction cost study conducted by Arcadis, covering 13 constructing types.
2. Costs are representative of the local specification used to fulfill market needs.
3. The construction solutions adopted in each location are largely similar, subsequently
Cost difference represents differences in specifications, in addition to labor and material costs. Construction costs are current as of Q4 2017.
Source : Arcades
