International construction cost survey 2012
International construction cost survey 2012
International construction cost survey 2012
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<strong>International</strong> <strong>construction</strong> <strong>cost</strong> <strong>survey</strong> <strong>2012</strong><br />
Singapore<br />
The Singapore market has been quite moderate in 2011 and escalation has been minimal for<br />
most building types. Singapore’s internationally connected economy is experiencing both the<br />
opportunities of trading with East Asia and the general slowdown in the rest of the world. The<br />
economy is growing at below the trend of recent years, recording 4.9 percent growth in 2011.<br />
Housing and apartment <strong>construction</strong> is quite resilient based on low unemployment rates, confidence<br />
and wage growth, but the office, retail and hotel sectors appear to be easing. Singapore’s expertise<br />
in shipping and fabrication will benefit from the strong growth in energy and resources projects<br />
in Malaysia and Australia. In <strong>2012</strong> <strong>cost</strong> escalation of five percent is expected for <strong>construction</strong><br />
projects, which is broadly in line with general inflation. Wage increases are moderate, but some<br />
building material prices (steel and concrete) have fluctuated.<br />
26 Turner & Townsend<br />
Singapore – international building <strong>cost</strong>s per m2 of internal area<br />
2008 2009 2010 2011 2011<br />
SGD SGD SGD SGD USD<br />
Residential<br />
Detached house – medium standard 4,000 3,500 3,850 4,000 3,178<br />
Detached house – prestige 4,900 4,400 4,400 4,600 3,655<br />
Townhouse – medium standard 3,400 2,800 2,800 2,800 2,225<br />
Apartments – private medium density 3,000 2,000 2,000 2,100 1,669<br />
Apartments – high rise 3,400 2,500 2,700 2,700 2,145<br />
Aged care/affordable units<br />
Commercial<br />
1,500 1,350 1,450 1,500 1,192<br />
Offices – business park 2,300 2,000 2,000 2,000 1,589<br />
CBD offices up to 20 floors – medium 3,000 2,500 2,500 2,500 1,986<br />
CBD offices – prestige<br />
Warehouses<br />
3,200 2,800 2,800 2,900 2,304<br />
Warehouse/factory unit – basic 1,400 1,200 1,200 1,200 953<br />
Large warehouse distribution centre 1,600 1,500 1,700 1,800 1,430<br />
High-tech factory/laboratory<br />
Retail<br />
3,000 2,800 2,800 3,000 2,384<br />
Large shopping centre including mall 3,000 2,500 3,000 3,200 2,542<br />
Neighbourhood including supermarket 2,400 2,000 2,000 2,100 1,669<br />
Prestige car showroom<br />
Hotels<br />
3,500 3,300 3,300 3,300 2,622<br />
Three-star travellers 3,300 2,700 3,100 3,200 2,542<br />
Five-star luxury 4,800 4,000 4,150 4,200 3,337<br />
Resort style<br />
Hospitals<br />
3,200 2,600 3,000 3,000 2,384<br />
Day centre 2,000 1,800 1,750 1,800 1,430<br />
Regional hospital 3,500 3,000 3,000 3,100 2,463<br />
General hospital<br />
Schools<br />
3,500 3,000 3,000 3,100 2,463<br />
Primary and secondary 1,500 1,500 1,500 1,500 1,192<br />
University<br />
Carparks<br />
2,500 2,500 2,500 2,700 2,145<br />
Multistorey – above ground 1,200 900 1,200 1,200 953<br />
Multistorey – below ground<br />
Airports<br />
2,000 1,600 1,600 1,700 1,351<br />
Airport terminal – – – – –<br />
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