What are the world’s most expensive cities to build in?
16 April 2024
The world’s most expensive cities to build in have been revealed, with London once again being named as the most expensive city in the world, according to the latest Arcadis 2024 International Construction Costs (ICC) report.
Copenhagen is one of the world’s ten most expensive cities to build in
London has narrowly overtaken Geneva to top the rankings once again, according to the study of comparative construction costs across 100 global cities.
According to the report, enhanced specifications associated with safety and sustainability have been pushing prices upwards, causing London to overtake Geneva (2nd) in the rankings, closely followed by Zurich (3rd) and Munich (4th).
Rising costs and double-digit price growth in Munich have propelled the Bavarian capital significantly up the rankings, surpassing major US cities like New York (5th) and San Francisco (6th) in terms of relative cost to build.
The 2024 Arcadis International Construction Costs Index covers 100 of the world’s large cities across six continents.
The cost comparison was developed covering twenty different building types, including residential, commercial, and public sector developments, and is based on a survey of construction costs, a review of market conditions and the professional judgement of Arcadis’ global team of experts. The calculations are based in USD and indexed against the price range for each building type relative to Amsterdam.
“London finds itself back in the number one spot in the ICC 100 index for 2024, reflecting the capital’s resilience in the face of challenging conditions,” said Peter Hogg, UK Cities Director at Arcadis.
“Despite a 10% year-on-year decline in construction output and a significant 20% drop in housing, the commercial sub-sector experienced a notable 24% rise, largely attributed to retrofit activity.”
Read about why UK projects are so expensive.
What are the world’s ten most expensive cities to build in?
London
Geneva
Zurich
Munich
New York City
San Francisco
Philadelphia
Copenhagen
Hong Kong
Bristol
What are the world’s ten least expensive cities to build in?
Buenos Aires
Lagos
Kuala Lumpur
Nairobi
Bengaluru
Johannesburg
Delhi
Mumbai
Chengdu
Hi Chi Minh
