Property News · May 16, 2018

Construction labour squeeze propels Hong Kong into third spot among most expensive cities globally to build


Hong Kong’s construction labour costs have vaulted 25 per cent in the last 12 months, elevating the city into the third spot among the most expensive to build globally, trailing only New York and San Francisco, and stoking concerns of runaway home price inflation.
The average construction cost in Hong Kong amounted to US$3,704 per square metre in 2017, up 6.2 per cent year on year, according to global project manager, Turner and Townsend. 
Labour was the single largest driver of…

Source : South China Morning Post
Read more…Construction labour squeeze propels Hong Kong into third spot among most expensive cities globally to build

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