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
| Jun 6, 2012
SOM urges Chicago tenants to partner with landlords to cut energy use
Tenants can exceed building energy challenge targets recently announced by Mayor Emanuel.
| Jun 1, 2012
New BD+C University Course on Insulated Metal Panels available
By completing this course, you earn 1.0 HSW/SD AIA Learning Units.
| May 30, 2012
Boral Bricks announces winners of “Live.Work.Learn” student architecture contest
Eun Grace Ko, a student at the Ryerson University in Toronto, Canada, named winner of annual contest.
| May 29, 2012
Reconstruction Awards Entry Information
Download a PDF of the Entry Information at the bottom of this page.
| May 24, 2012
2012 Reconstruction Awards Entry Form
Download a PDF of the Entry Form at the bottom of this page.
| May 8, 2012
Gensler & J.C. Anderson team for pro bono high school project in Chicago
City Year representatives came to Gensler for their assistance in the transformation of the organization’s offices within Orr Academy High School, which also serve as an academic and social gathering space for students and corps members.
| Apr 27, 2012
China Mobile selects Leo A Daly to design three buildings at its new HQ
LEO A DALY, in collaboration with Local Design Institute WDCE, wins competition to design Phase 2, Plot B, of Campus.
| Apr 23, 2012
Vegas’ CityCenter called financial ‘black hole’
Two and a half years ago, stockholders filed six lawsuits after the stock price fell from $99.75 on Oct. 9, 2007, to $1.89 on March 5, 2009. Bondholders sued over similar steep losses.
| Apr 20, 2012
McCarthy completes Santa Barbara Cottage Hospital Replacement Facility
The new hospital’s architectural design combines traditional Santa Barbara Spanish colonial architecture with 21st century medical conveniences highlighted by a therapeutic and sustainable atmosphere.
| Apr 19, 2012
KTGY Group’s Arista Uptown Apartments in Broomfield, Colo. completed
First of eight buildings highlights unique amenities.
