The RICS is to begin a cost information service for the Asian market in response to the growing number of UK companies expanding in the far East.

The service, which will be launched by the RICS’ Building Cost Information Service (BCIS) will provide developers with pricings in four currencies on labour and material resources and benchmark building types .

Full cost reports are available for China, Hong Kong, India, Japan, Malaysia and Singapore. Partial reports are available for Macao, Sri Lanka and Thailand.

The reports are also presented as cost comparisons.

Andrew Thompson, international development director of the BCIS, said: “Would-be investors can now compare benchmark building costs across the Asian market.”

In addition, the service identifies market risks, with an analysis of items such as economic fluctuations, rising material costs and political and regulatory decisions.