London once again crowned the ‘world’s most expensive city to build’
Posted: Monday, April 22nd, 2024
London is followed by Geneva (2nd), Zurich (3rd) and Munich (4th), according to the Arcadis International Construction Costs 2024 report, Construction Management reported. Double-digit price growth in Munich has propelled the Bavarian capital significantly up the rankings. It has overtaken US cities including New York (5th) and San Francisco (6th) in terms of relative cost to build. The report found that cities in the UK and Ireland are relatively expensive places to build – all those included in the study are in the top 25 most expensive construction locations globally, except Belfast, which ranked 28th. Although inflation levels were moderate in the UK, specification enhancements related to building safety, sustainability and client expectations pushed prices up further than most other locations. Viability challenges have continued to affect projects, even as inflation has fallen. New regulations focused on low-carbon emissions and improved building safety also created uncertainty and added to project costs. UK and Ireland’s cities ranking 10 most expensive cities 10 least expensive cities London (1/100) 1. London 100. Buenos Aires Bristol (10/100) 2. Geneva 99. Lagos Manchester (12/100) 3. Zurich 98. Kuala Lumpur Birmingham (14/100) 4. Munich 97. Nairobi Edinburgh (15/100) 5. New York 96. Bengaluru Cardiff (16/100) 6. San Francisco 95. Johannesburg Glasgow (18/100) 7. Philadelphia 94. Delhi Dublin (19/100) 8. Copenhagen 93. Mumbai Belfast (28/100) 9. Hong Kong 92. Chengdu 10. Bristol 91. Ho Chi Minh
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