International construction market survey 2016
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<strong>International</strong> building costs, in <strong>2016</strong><br />
KRW<br />
USD<br />
(exchange<br />
rate: 1,187)<br />
Retail<br />
Large shopping centre including mall 2,032,050 1,710<br />
Neighbourhood incl super<strong>market</strong> 1,136,200 960<br />
Prestige car showroom 2,236,750 1,880<br />
Composite trade rates<br />
Excavate basement (m 3 ) (1800m 3 job) 6,680 6<br />
Excavate footings (m) 6,680 6<br />
Concrete in slab (m 3 ) (1500m 3 job) 135,000 114<br />
Reinforcement in beams (tonne) 1,251,400 1054<br />
Formwork to soffit of slab (m 2 ) 31,000 26<br />
Blockwork in wall (m 2 ) (10,000 block job) 41,000 35<br />
Structural steel beams (tonne) 2,008,500 1692<br />
Pre-cast concrete wall (m 2 ) 265,000 223<br />
Curtain wall glazing incl support system (m 2 ) (1000m 2 job) 318,000 268<br />
Plasterboard 13mm thick to stud wall (m 2 ) (3000m 2 job) 47,800 40<br />
Single solid core door incl frame and hardware (no) (50 door job) 266,000 224<br />
Painting to walls primer + 2 coats (m 2 ) 4,800 4<br />
Ceramic tiling (m 2 ) (1000m 2 job) 46,500 39<br />
Vinyl flooring to wet areas (m 2 ) (500m 2 job) 37,100 31<br />
Carpet medium tufted (m 2 ) (4500m 2 job) 53,000 45<br />
Lighting installation (m 2 ) (5000m 2 + job) 43,260 36<br />
Copper pipe 15mm to wall (m) (1000+ metre job) 11,600 10<br />
Fire sprinklers (per m 2 ) (5000m 2 job) 23,870 20<br />
Air conditioning incl main plant (m 2 ) (5000m 2 + job) 214,000 180<br />
Labour costs<br />
Group 1 Tradesman e.g. plumber, electrician 26,000 22<br />
Group 2 Tradesman e.g. carpenter, bricklayer 23,000 19<br />
Group 3 Tradesman e.g. carpet layer, tiler, plasterer 21,000 18<br />
General labourer 16,000 14<br />
Site foreman 34,000 29<br />
Material costs<br />
Concrete 30 MPa (m 3 ) (1500m 3 job) 84,700 71<br />
Reinforcement bar 16mm (tonne) (120 tonne job) 748,000 630<br />
Concrete block (400x200) per 1000 (>10,000 block job) 998,000 841<br />
Standard brick per 1000 682,000 575<br />
Structural steel beams (tonne) (100 tonne+ job) 979,000 825<br />
Glass pane 10mm tempered (m 2 ) 137,600 116<br />
Softwood timber for framing 100mm x 50mm (m) 2,800 2<br />
13mm plasterboard (m 2 ) 3,300 3<br />
Emulsion paint (litre) 3,200 3<br />
Copper pipe 15mm (metre) (1000+ metre job) 6,720 6<br />
Copper cable (metre) (3C + E, 2.5mm PVC) (100,000m+ job) 2,270 1.9<br />
Plant<br />
Hire 50t mobile crane + operator (day) 950,000 800<br />
Market:<br />
lukewarm<br />
Tendering:<br />
staying the same<br />
Cost escalation 2015–16: 0.0%<br />
Cost escalation <strong>2016</strong>–17: 2.0%<br />
Contractor’s margin: 3.0%<br />
Preliminaries: 12.0%<br />
Location factor (USD): 46<br />
PPP coefficient: 781.15<br />
<strong>International</strong> <strong>construction</strong> <strong>market</strong> <strong>survey</strong> <strong>2016</strong> 63
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