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 />
US<br />
The outlook for <strong>2012</strong>–13 is for continued slow to moderate growth and a likely return to<br />
pre-recession economic activity by 2014, subject to the European financial system not causing<br />
further setbacks. New York, Texas and Massachusetts are experiencing stronger <strong>construction</strong><br />
growth, while Arizona, Nevada and Florida are much weaker. Construction <strong>cost</strong>s should<br />
increase moderately in <strong>2012</strong> with labour up by two to four percent and materials up by four<br />
to eight percent. Gypsum-based products such as plasterboard are set to spike upwards in<br />
<strong>2012</strong>. Residential is unlikely to recover in <strong>2012</strong> with the market still somewhat oversupplied,<br />
but markets and companies are consolidating, rightsizing, and setting up for a resumption<br />
of growth. Multi-unit residential, education, health and energy projects should lead the way.<br />
36 Turner & Townsend<br />
US – international building <strong>cost</strong>s per m2 of internal area<br />
2008 2009 2010 2011<br />
USD USD USD USD<br />
Residential<br />
Detached house – medium standard 1,570 1,475 1,435 1,495<br />
Detached house – prestige 1,925 1,750 1,710 1,800<br />
Townhouse – medium standard 1,475 1,330 1,300 1,350<br />
Apartments – private medium density 1,420 1,590 1,520 1,600<br />
Apartments – high rise 2,075 2,045 2,020 2,100<br />
Aged care/affordable units<br />
Commercial<br />
1,300 1,400 1,420 1,550<br />
Offices – business park 1,600 1,905 1,850 1,885<br />
CBD offices up to 20 floors – medium 2,215 2,150 2,085 2,140<br />
CBD offices – prestige<br />
Warehouses<br />
2,610 2,505 2,440 2,520<br />
Warehouse/factory unit – basic 750 850 840 860<br />
Large warehouse distribution centre 915 990 1,100 1,140<br />
High-tech factory/laboratory<br />
Retail<br />
1,520 1,615 1,700 1,785<br />
Large shopping centre including mall 1,580 1,600 1,500 1,560<br />
Neighbourhood including supermarket 860 900 840 910<br />
Prestige car showroom<br />
Hotels<br />
1,425 1,390 1,325 1,380<br />
Three-star travellers 1,485 1,580 1,525 1,575<br />
Five-star luxury 2,680 2,720 2,550 2,600<br />
Resort style<br />
Hospitals<br />
2,420 2,630 2,250 2,300<br />
Day centre 1,645 1,765 2,045 2,055<br />
Regional hospital 3,100 3,210 3,290 3,340<br />
General hospital<br />
Schools<br />
3,000 3,110 3,260 3,300<br />
Primary and secondary 1,450 1,510 1,495 1,570<br />
University<br />
Carparks<br />
2,160 2,240 2,150 2,200<br />
Multistorey – above ground 700 730 690 700<br />
Multistorey – below ground<br />
Airports<br />
1,325 1,395 1,295 1,315<br />
Airport terminal 3,650 3,525 3,425 3,550<br />
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