San Francisco has overtaken Tokyo as the world’s most expensive city for construction, according to a new report from Turner & Townsend.
The cost for construction in San Francisco is $439.29 per square foot. North America had four markets in the top 10. New York City ranked fourth, Boston ranked eighth, and Los Angeles ranked ninth.
Cost increases in North America were due to the strengthening of the U.S. dollar, higher building material costs driven by supply chain disruptions, and high labor costs. The report found that 38.6% of markets surveyed were classified as “hot” (28.4%) or “overheating” (10.2%). These markets have conditions that risk acting as a brake on development. This is an increase of 10% over 2021, while the number of “cold” markets fell from six to one.
The rankings with the price per square foot, according to the report, are:
- San Francisco $439.29
- Tokyo $433.37
- Osaka, Japan $423.49
- New York City $419.67
- Geneva $402.47
- Zurich $398.16
- Hong Kong $393.58
- Boston $371.46
- Los Angeles $369.92
- London $363.23
Related Stories
| Aug 11, 2010
Thom Mayne unveils 'floating cube' design for the Perot Museum of Nature and Science in Dallas
Calling it a “living educational tool featuring architecture inspired by nature and science,” Pritzker Prize Laureate Thom Mayne and leaders from the Museum of Nature & Science unveiled the schematic designs and building model for the Perot Museum of Nature & Science at Victory Park. Groundbreaking on the approximately $185 million project will be held later this fall, and the Museum is expected to open by early 2013.
| Aug 11, 2010
SOM's William F. Baker awarded Fritz Leonhardt Prize for achievement in structural engineering
In recognition of his engineering accomplishments, which include many of the tallest skyscrapers of our time, William F. Baker received the coveted Fritz Leonhardt Prize in Stuttgart, Germany. He is the first American to receive the prize.
| Aug 11, 2010
Theater Renovation—A First-Class Production
In 1985, the city of San Diego ordered the historic Balboa Theatre, its beleaguered performing arts center, to be shuttered due to seismic safety concerns. It would take another two decades to restore the landmark building.
| Aug 11, 2010
Green roof professional designation launches in Canada
Green Roofs for Healthy Cities (GRHC), the North American Green Roof Industry Association, is pleased to announce the Canadian Green Roof Professional (GRP) Accreditation launch on October 19, 2009 at the CitiesAlive World Green Roof Infrastructure Congress in Toronto, Canada, hosted by GRHC, the City of Toronto, and the World Green Roof Infrastructure Network.
| Aug 11, 2010
American Concrete Institute forms technical committee on BIM for concrete structures
The American Concrete Institute (ACI) announces the formation of a new technical committee on Building Information Modeling (BIM) of Concrete Structures.
| Aug 11, 2010
Former Colorado Governor Bill Owens retained by PCL Construction as senior advisor
Bill Owens, former Colorado Governor, has been retained by PCL Construction as senior advisor for the company’s U.S. operations, headquartered in Denver, Colorado. The PCL family of companies collectively form the seventh largest contracting organization in the U.S. with major offices in 29 locations across North America, the Hawaiian Islands, and the Caribbean.
| Aug 11, 2010
Kansas City Music Hall and Municipal Auditorium
Kansas City, Mo.
The show will go on in Kansas City’s beloved Music Hall and Municipal Auditorium thanks to a fast-track renovation and expansion project that brought the 72-year-old Art Deco playhouse up to 21st-century standards.
| Aug 11, 2010
10 tips for mitigating influenza in buildings
Adopting simple, common-sense measures and proper maintenance protocols can help mitigate the spread of influenza in buildings. In addition, there are system upgrades that can be performed to further mitigate risks. Trane Commercial Systems offers 10 tips to consider during the cold and flu season.