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Building costs: offices and industrial (£/m2)
                       
                       
Heated offices     Air-conditioned offices       Factories, warehouses and industrial       High-tech/research      
£/m2 low £/m2 high floors* (typical) £/m2 low £/m2 high floors* (typical) £/m2 low £/m2 high floors* (typical) £/m2 low £/m2 high floors* (typical)
Country                        
Austria 962 1 442 7 1 186 1 667 7 – – – – – –
Cyprus 300 579 5 339 644 6 197 415 1 437 874 1
Czech Republic 358 455 6 455 664 6 192 378 1 350 498 1
Denmark 983 1 083 2 1 242 1 371 2 877 969 1 1 246 1 357 2
Finland 699 880 5 763 933 5 435 530 1 646 763 2
France 576 817 4 672 961 4 192 240 1 480 576 2
Germany (Berlin) 773 1 128 5 966 1 450 5 322 548 2 902 1 450 4
Hungary 311 443 3 410 639 6 180 295 1 393 525 2
Ireland 640 920 5 840 1 120 5 160 300 1 640 920 2
Italy 521 651 8 651 976 8 260 521 1 651 1 302 2
The Netherlands 623 758 6 749 988 8 305 474 1 850 1 121 3
Norway 621 1 087 4 660 1 165 4 388 932 1 932 1 398 4
Poland 373 606 – 505 788 – 233 385 – 406 555 –
Romania – – – 560 747 6 311 436 2 N/A N/A –
Russia 424 727 5 515 909 6 424 667 2 N/A N/A –
Spain 274 329 6 312 375 10 137 165 2 511 587 –
Sweden 624 661 4 661 881 4 587 661 1 661 734 1
Switzerland – – – 918 1 381 4 362 617 2 918 1 529 2
UK 795 1 080 4 1 195 1 690 8 235 380 1 700 1 030 2
Argentina N/A N/A – 405 530 20 93 125 1 – – –
Australia N/A N/A – 590 731 17 192 247 1 592 790 2
China N/A N/A – 489 640 203 346 – 579 715 –  
Hong Kong N/A N/A – 890 1 162 45 385 577 15 1 162 1 555 3
India N/A N/A – 273 316 3 115 172 2 258 344 2
Indonesia N/A N/A – 270 322 – 195 236 – – – –
Israel 412 508 10 412 508 10 191 250 2 368 486 6
Japan N/A N/A – 1 617 2 636 15 488 1 147 1 1 147 1 611 3
Kenya N/A N/A – 292 375 12 167 250 1 375 458 2
Malaysia – – – 163 294 33 73 114 2 – – –
New Zealand 509 573 20 573 669 25 96 143 – 239 398 –
Oman N/A N/A – 356 623 – 178 445 – 566 971 –
Philippines N/A N/A – 335 457 40 168 259 2 457 594 5
Saudi Arabia N/A N/A – 498 830 7 349 581 1 581 996 2
Singapore N/A N/A – 559 708 25 287 373 2 317 410 2
South Africa N/A N/A – 203 284 2 162 223 1 244 304 1
Thailand N/A N/A – 353 401 30 112 136 2 N/A N/A –
United Arab Emirates N/A N/A – 339 594 20 170 424 – 543 933 3
USA** N/A N/A – 719 1 085 8 282 432 1 731 958 2
* Typical number of storeys has only been provided where identified by local offices
** USA figures are an average for eight cities
Building costs: residential and retail (£/m2)
High-rise apartments     Shopping centre     High-quality capital city hotel      Provincial/suburban hotel     
£/m2 low £/m2 high floors* (typical) £/m2 low £/m2 high floors* (typical) £/m2 low £/m2 high floors* (typical) £/m2 low £/m2 high floors* (typical)
Country                        
Austria 1 090 1 154 – – – – – – – – – –
Cyprus 360 513 4 306 546 2 546 874 5 350 492 3
Czech Republic 306 434 1 367 490 1 577 829 8 395 504 3
Denmark 905 1 006 5 1 062 1 154 1 1 339 1 431 5 973 1 052 3
Finland 763 1 113 4 530 646 2 1 049 1 166 5 816 933 3
France 432 720 6 384 624 2 817 1 153 6 432 576 2
Germany (Berlin) 644 838 5 805 1 128 3 1 289 1 450 10 805 1 128 5
Hungary 261 393 6 344 574 3 656 951 6 361 541 4
Ireland 500 680 5 1 120 1 400 2 880 1 040 4 720 920 3
Italy 488 716 4 814 976 1 651 1 139 4 521 911 2
The Netherlands 387 631 10 510 692 1 1 134 1 313 8 981 1 104 4
Norway 544 932 3 505 854 2 1 398 1 553 5 660 1 010 2
Poland 334 585 – 538 717 – 684 854 – 469 684 –
Romania 308 560 2 N/A N/A – 616 934 5 – – –
Russia N/A N/A – 424 667 3 727 909 5 455 667 4
Spain 328 390 8 298 357 2 468 562 10 343 417 6
Sweden 808 918 3 698 808 3 734 881 4 698 771 3
Switzerland 590 872 4 369 550 – 1 381 1 850 5 – – –
UK 865 1 175 8 820 1 470 2 1 280 1 520 10 750 1 070 4
Argentina 280 343 25 374 498 3 561 623 20 312 374 4
Australia 502 673 15 409 553 2 900 1 204 15 717 1 011 2
China 263 339 – 564 677 – 677 903 – 527 752 –
Hong Kong 850 1 162 45 1 002 1 242 4 994 1 459 25 N/A N/A –
India 86 115 14 100 129 2 86 119† 100 473† – 28 706† 43 060† –
Indonesia 240 283 10 214 257 – 343 412 15 279 335 8
Israel 368 405 16 294 405 2 441 552 12 324 441 3
Japan 1 666 1 849 20 671 1 666 5 2 221 3 325 20 1 574 2 032 10
Kenya 200 250 6 167 208 2 292 542 9 167 250 3
Malaysia 245 310 15 139 294 4 245 571 10 196 408 6
New Zealand 446 605 – 271 446 – 732 828 – 573 669 –
Oman 417 712 – 404 971 – 445 801 – 340 623 –
Philippines 305 442 35 183 244 4 533§ 655§ 35 381§ 442§ 8
Saudi Arabi 581 797 7 498 830 2 913§ 1 246§ 7 747§ 1 079§ 4
Singapore 447 596 25 410 484 2 783 894 10 596 745 7
South Africa – – – 183 264 1 304 365 7 264 325 5
Thailand 265 321 20 200 233 4 401 481 20 192 289 3
United Arab Emirates 382 678 15 382 933 3 424 763 15 339 594 5
USA** 513 845 20 506 793 2 1 118 1 471 15 767 1 060 5
* Typical number of storeys has only been provided where identified by local offices
** USA figures are an average for eight cities § Costs include furniture, fittings and equipment † Costs per room
Inflation rates and forecasts
Price inflation (%)               Building tender price inflation (%)                
Country 1994 1995 1996 1997 1998 1999 2000 2001 1994 1995 1996 1997 1998 1999 2000 2001
Austria – – – – – 0.9 1.2 – 3.5 3.4 1.5 2.7 2.2 2.9 – –
Cyprus – – – – – – – – 6.7 7.6 6.5 6.7 8 7.9 10.3 5
Czech Republic 9.1 9 10 9.2 9.9 2.1 – – 12 9.3 12 10.7 8.4 2 5.3 –
Denmark 2 2.1 2.1 2.3 3.4 8 8 – 2.8 5.4 2.6 4.2 4.8 9.5 5.8 –
Finland 5 1.2 -1 2.4 2.6 2.6 4 – 15 0 –7.4 9 11 12.5 4.1 –
France 1.6 2.1 2 1.1 –1.0 0.7 1 – 3.5 1.9 1.7 1.1 1 1.7 – –
Germany 5 2.2 1.5 2.4 1 0.7 0.6 – 5.6 2.4 2.1 –2.5 0 – – –
Hungary 27 29.8 23 18 14.5 10.5 9 – 30.2 27.3 19 14 19 11.5 10 –
Ireland 2.5 1.6 2.8 1.7 5.9 – – – 8 2 2.6 3.4 3.2 – – –
Italy 5.9 6.2 3.9 2.2 3.5 1.4 2 1.3 -1.8 2 2.2 0.9 3.3 1.6 2.4 1.5
The Netherlands 2.6 1.7 2.5 2.4 1.8 2.4 2.4 0.9 1.8 1.8 2.6 1.7 5 3.2 –  
Norway 1.9 2.1 2.5 1.6 2.3 3 4.8 4.7 4.1 3 1.7 2 4.1 1.8 2.3 1.7
Poland 32.2 28 19.5 15.3 10.6 8.5 – – 19.6 21.9 21.1 14.1 7 8.6 – –
Romania – – – – – – – – – – – – – 40 7.1 –
Russia – – – – 52 120 – – – – – – – – – –
Spain – – – – – 2.7 2.4 – 2.7 3.5 4.2 3.2 1.6 5.4 2.2 –
Sweden 2.2 2.5 0.5 0.5 2.9 2.5 – – 1.6 6.4 1.2 0.9 2.5 – – –
Switzerland – – 0.8 0.8 2.1 1.6 – – – – – – – 1 1.5 –
UK 2.4 3.3 2.5 3.1 3.4 1.3 2.8 3 6 4.9 3.7 5.5 4.6 3.7 3.7 3.2
Argentina 5 4 –3.0 3 2 –3.8 2.8 – 2.2 0.8 -5 1.1 0 -0.8 4 –
Australia 2.1 4.7 1.2 0.8 0.8 1.2 3 – 1.8 1.9 2.8 2.4 3.2 3 3 5
China – – – 1.8 –1.5 –1.3 – – –1.5 –1.5 –2.5 –2.5 –1.2 –0.3 -0.8 –
Hong Kong 9.8 8.2 7 5.3 1.1 2.8 4.3 – 13 12.4 10.2 19.3 –6.0 –0.1 – –
India – – – – 15 3.1 – – 7.7 7.1 6.6 6.3 5.9 11.1 10 8
Indonesia 5 3.9 3.4 6.9 82.4 – – – 1.4 2.1 2.3 10 100 0 – –
Israel – 13 8 10.6 6.7 2.8 4.7 – 11.9 8 8 7.4 2.1 2 4.6 4.3
Japan –1.1 0.9 –1.7 –0.6 –3.5 0.3 -0.2 – –5.4 –2.7 –1.3 –0.3 –2.2 –1.6 – –
Kenya – – – – – – – – 15.5 2.9 8.1 9.8 8.2 17 17 16
Malaysia – – – – – – – – 3 2 0.9 3.2 0.4 4 – –
New Zealand 0.9 2.9 2.6 0 2.1 2.4 2.4 – 2.1 3.2 0.4 0 0.1 2.1 2 –
Philippines – – – 5.3 10.2 5.7 – – – – – – – – 0 –
Saudi Arabia 0.6 5 2 2 0.2 1.9 1.9 2.3 – – – – – – – –
Singapore – – – 2.3 –1.4 0.9 – – 0 5.2 8.9 2.7 -14.2 -9.3 – –
South Africa – – 6 4 4.1 – – – 8.4 6.8 5.7 6.2 7.2 11.8 6.5 4.2
Thailand – – – 7 5.8 – – – 8.2 5.7 -0.9 8.1 -1.7 -2.6 4.3 4.2
United Arab Emirates 0 4.5 0 4.3 8.3 0 0 0 0 4.5 0 4.3 8.3 0.1 – –
USA** 2.7 2.3 2.1 2.9 4.5 2.3 2.6 – 2.8 3.1 2.3 3.6 5.8 3.9 3.3 –
Labour rates (£/hour)
Basic rate*     All-in rate†     
Country Unskilled Semi-skilled Skilled Unskilled Semi-skilled Skilled
Austria 4.7 5.14 6.07 9.6 10.33 11.76
Cyprus 3.17 3.44 3.93 5.02 5.68 6.83
Czech Republic 0.73 1.4 2.27 2.27 3.41 4.9
Denmark 11.18 12.03 12.62 21.43 23.38 23.97
Finland 4.77 6.36 7.42 8.27 11.34 12.82
France 4.23 5.28 6.24 9.03 11.53 12.78
Germany 5.8 7.09 11.28 19.33 20.94 24.16
Hungary 0.87 1.12 1.61 2.48 3.23 4.6
Ireland 5.13 5.83 6.4 9.19 10.58 11.5
Italy 6.83 7.81 8.46 13.67 15.62 16.92
The Netherlands 5.72 6.58 7.15 12.87 14.01 16.01
Norway 5.44 – 9.94 16.31 – 21.74
Poland 0.99 1.23 1.48 1.91 2.36 2.84
Romania 0.81 1.56 1.96 1.06 2.09 2.65
Russia – – – 2.49 3.24 4.49
Spain 4.4 5.08 6.44 8.51 9.21 10.85
Sweden – 5.87 8.08 – 12.48 16.89
Switzerland 11.02 11.96 12.41 18.38 20.08 20.86
UK 4.55 5.2 6.05 6.01 6.83 7.91
Argentina 1.33 1.56 1.81 2.87 3.36 3.99
Australia 5.97 6.41 6.77 9.22 9.88 10.48
China 0.19 0.27 0.44 0.22 0.31 0.51
Hong Kong 5.85 – 8.82 6.73 – 10.18
India 0.11 0.13 0.19 0.14 0.17 0.23
Indonesia 0.51 0.69 0.86 0.62 0.82 1.03
Israel 3.53 4.41 5.89 4.12 5.59 7.65
Japan 11.98 15.49 16.78 17.97 23.23 25.17
Kenya 0.15 0.34 0.44 0.33 0.67 1
Malaysia – – – 0.9 1.14 1.88
New Zealand 2.94 4.3 5.57 3.53 5.16 7.32
Oman 1.02 1.25 1.36 1.46 1.78 1.94
Philippines 0.37 0.44 0.56 0.42 0.51 0.65
Saudi Arabia 0.66 0.83 1.66 1.33 1.66 2.49
Singapore 1.34 1.79 2.24 2.2 2.27 2.42
South Africa 0.83 1.24 2.08 1 1.59 2.64
Singapore 3.05 3.61 6.26 3.53 4.09 6.82
United Arab Emirates 0.71 0.75 0.78 1.02 1.07 1.12
USA** 13.02 14.69 17.72 19.56 21.59 25.75
             
             
             
             
* Basic rate is the amount paid to a site operative, based on figures promulgated by the national wage-fixing body in the country. In many cases, employers may be paying above or below the basic rate. † All-in rate is the gross hourly cost of employing the site operative, based on the standard working week for the country, including items such as insurances, statutory contributions and taxes. The all-in labour rate for the Middle East includes thecost of importing labour and food and accommodation.
** USA figures are an average for eight cities
Building materials supply prices
Steel rebar high yield Structural steel Ordinary cement Concrete (20 N/mm2) Aggregate all grades Sand (coarse) Plaster Carcassing timber Common bricks Concrete blocks (100 mm) Glass (6 mm)
Country £/tonne £/tonne £/tonne cost/m3 £/tonne £/tonne £/tonne £/m3 £/1000 £/m2 £/m2
Austria 279 – 87 – 10 10 112        
Cyprus 197 683 38 22 3 3 49 213 147 7 7
Czech Republic 273 455 41 23 6 6 29 91 119 5 4
Denmark 678 565 95 68 7 7 69 – – 14 –
Finland 307 646 65 34 6 6 – 127 – 6 21
France 576 576 67 61 9 9 81 144 173 4 14
Germany (Berlin) 242 515 64 42 11 8 119 177 209 14 23
Hungary 348 497 45 21 10 9 87 149 124 7 9
Ireland 260 800 68 40 5 6 88 200 240 48 16
Italy 179 586 50 42 7 11 75 146 49 4 18
The Netherlands 503 815 63 51 14 17 94 206 112 14 18
Norway 311 1 087 101 25 7 7 97 140 311 12 21
Poland 199 224 31 26 – 2 51 143 98 6 3
Romania 280 560 – – – – – – – – –
Russia 198 494 46 43 7 4 – 56 – 20 28
Spain 360 379 40 37 8 9 – – 68 4 12
Sweden 441 – 110 73 10 10 345 110 661 13 –
Switzerland 595 – 106 68 13 20 138 – 218 – –
UK 359 554 76 57 11 11 127 202 173 7 21
Argentina 293 498 74 56 4 6 78 50 75 6 19
Australia 434 513 105 39 13 11 109 237 169 7 9
China 169 211 26 26 4 4 – 98 21 2 3
Hong Kong 170 297 55 48 4 4 48 116 69 6 4
India 244 309 37 34 11 3 – – 20 4 11
Indonesia 249 300 43 26 4 3 – 129 – 4 4
Japan 177 427 53 73 26 28 – 323 – 9 12
Kenya 375 – 73 38 7 9 – 59 153 5 7
Malaysia 196 424 33 21 5 3 73 114 33 2 1
New Zealand 398 446 67 56 9 13 – – 153 6 16
Oman 324 – 47 21 3 5 36 170 – 5 –
Philippines 195 274 38 41 12 11 – 168 – 1 15
Saudi Arabia 241 498 43 33 4 2 58 125 – 3 20
Singapore 186 261 30 17 4 4 – 268 50 3 9
South Africa 406 49 27 7 5 – – 32 – –  
Thailand 176 481 29 24 5 4 29 – – 4 4
United Arab Emirates 178 305 41 30 6 11 170 271 – 5 11
USA** 432 1030 85 53 12 13 138 143 295 17 31
** USA figures are an average for eight cities