Geneva, London and New York, the most expensive cities in the world to build in
The ‘International Construction Costs (ICC) 2023’ report revealed that Geneva, London and New York top the list of the world’s most expensive cities to build in. This comprehensive study analyzed 100 of the largest cities on six continents, assessing both construction costs and the complexity of projects in each region. Next in the ranking are cities such as San Francisco, Munich, Hong Kong, Copenhagen, Boston, Zurich and Philadelphia, which also have high construction costs.
Construction costs and project complexity
The ICC index, published by Arcadis, ranks cities based on the construction costs and complexity of projects in each region. This analysis covers a wide range of buildings, from residential to commercial and public sector infrastructure. The data used for these rankings were obtained from construction cost surveys, reviews of market conditions and the extensive professional experience of Arcadis experts.
It is important to note that the costs reflected in the report also take into account changes in the technical specifications of buildings, as well as carbon neutral design. Arcadis highlights that these aspects have a significant impact on construction prices, as more and more projects are looking for emission reductions and environmental sustainability.
Strategic vision to preserve asset value and mitigate exposure to climate change
The results of this study indicate that, despite rising costs, long-term investors should consider a strategic vision to preserve the value of their assets and mitigate exposure to climate change.
Sustainable measures in the construction of durable infrastructures
Especially with the increasing demand for carbon neutrality requirements, it is essential to adopt sustainable measures in the construction of durable infrastructure.