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
William D. Bast, Thornton Tomasetti, ascends to NCSEA presidency
The National Council of Structural Engineers Associations (NCSEA) announced new officers, President William “Bill” D. Bast of Thornton Tomasetti, Chicago, IL, Vice President James Malley of Degenkolb Engineers, San Francisco, CA, and Secretary Ben Nelson of Martin/Martin, Inc., Denver, CO.
| Aug 11, 2010
Swiss Farms to open drive-thru grocery
Swiss Farms, America’s drive-through grocer, will unveil its new prototype store designed by retail design and branding firm, Chute Gerdeman Retail. The new store, in Ridley Township, Pa., features a new brand identity, an eye-catching barn motif and 21st century touches, including LED displays that tie merchandise offerings to the weather forecast.
| Aug 11, 2010
Indie Energy's geothermal technology earns U.S. Department of Energy funding
Indie Energy Systems Company, LLC announced today that it has been awarded funding by the U.S. Department of Energy for the continued development of the Company's smart geothermal technologies for commercial and public buildings. The $2.45 million grant will contribute to an innovative geothermal conversion of the Local 150 International Union of Operating Engineers office campus in Countryside, Illinois.
| Aug 11, 2010
IFMA names Tony Keane President and CEO
The International Facility Management Association is pleased to announce the appointment of Anthony “Tony” J. Keane, CAE, as the association’s new president and CEO. Keane’s first day will be Jan. 18, 2010. His appointment coincides with the announced retirement of David J. Brady, current IFMA president and CEO, at the end of February 2010.
| Aug 11, 2010
50% increase in green building programs since 2007
In the wake of an extended global economic slump, local communities are pushing ahead and expanding their green building programs. More than one in five U.S. cities with populations greater than 50,000 surveyed by the American Institute of Architects (AIA) report having a policy to promote green buildings, accounting for more than 53 million people.
| Aug 11, 2010
International Code Council elects officers, directors
Members of the International Code Council elected Clark County (Nevada) Director of Development Services Ron Lynn as President, Decatur (Alabama) Building Director Jimmy Brothers as Vice President and Chesterfield County (Virginia) Building Official Bill Dupler as Secretary/Treasurer. Adolf Zubia, Las Cruces (New Mexico) Fire Chief, will serve as Immediate Past President.
| Aug 11, 2010
Burwell Architects, Ziegler Cooper Architects announce merger
Ziegler Cooper Architects is pleased to announce that Burwell Architects has merged into the Corporate Interior Studio of Ziegler Cooper Architects. We believe the new relationship will enhance and expand the services we can provide to our clients.
| Aug 11, 2010
KlingStubbins and Tocci awarded GSA contract for nationwide BIM services
KlingStubbins and Tocci Building Corporation announced they have been selected as a prime contractor team to participate in a $30M, five-year contract to provide Building Information Modeling (BIM) Services for the U.S. General Services Administration (GSA).
