San Francisco overtakes Tokyo as the world’s most expensive city for construction

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

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| Dec 20, 2010

Architect Adrian D. Smith on zero-energy cities, new technologies, and high density.

Adrian D. Smith, FAIA, RIBA, is co-founder (with Gordon Gill) of Adrian Smith + Gordon Gill Architecture, Chicago. Previously, he was a design partner in the Chicago office of Skidmore, Owings & Merrill (1980-2003) and a consulting design partner from 2004 to 2006. His landmark structures include the Jin Mao Tower (Shanghai), Rowes Wharf (Boston), and Burj Khalifa (Dubai, U.A.E.), the world’s tallest structure. He recently collaborated with Gordon Gill to design the world’s first net-zero-energy skyscraper, Pearl River Tower, now nearing completion in Guangzhou, China. This account is based on his recent remarks at the Illinois Institute of Technology.