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ºÚ¶´ÉçÇø costs: offices and industrial (€/³¾2)
City-centre heated offices City-centre air-conditioned offices Factories, warehouse, industrial Out-of-town business park
€/³¾2€/³¾2floors%€/³¾2€/³¾2floors€/³¾2€/³¾2floors€/³¾2€/³¾2floors
Countrylowhigh(typical)lowhigh(typical)lowhigh(typical)lowhigh(typical)
Cyprus5221045–56611132–313662–6971393–
Czech Republic618784666311146633274816038446
Denmark11421612613432150673913431107513433
Finland1278161551396171657909751119413962
France1372190651524213464887621114315243
Germany91611554103513546319597179610354
Greece5491098–5941190–330696–7311464–
Hungary4976165596835733841715376763
Ireland177822855196827935571762113971524–
Italy8781085810331678851612391142020661
Netherlands106913006128416908515796–116813571
Poland6981133–9451474–4367211–––
Romania6549268763103510––––––
Slovakia4725996599876625357115076456
SpainN/AN/A–841135210301601–75112024
Sweden11811328414431725494111393102412331
Switzerland9161492–14241899–81412212108513562
UK1433164072070299483826371154519514
ArgentinaN/AN/A–6728962016822415047283
Australia%%N/AN/A–1074.5158325249.537616909003
China9041187258771147253646072105212823
Hong KongN/AN/A–146119334564493115183323634
IndiaN/AN/A103384081025630313033846
IndonesiaN/AN/A–510663–229306–433510–
IsraelN/AN/A–752860721123717528606
JapanN/AN/A–2177274915440122511379217710
Kenya368523845362282553541N/AN/A–
MalaysiaN/AN/A–294529301322062N/AN/A–
New Zealand6978362083697525139279–4646042
OmanN/AN/A–6381059–319798–N/AN/A–
PhilippinesN/AN/A–4085374021530124304738
Saudi ArabiaN/AN/A–923153475968931N/AN/A–
SingaporeN/AN/A–1220142125403561–10981305–
South Africa †228272–26435951342231N/AN/A3
ThailandN/AN/A–560713301782292N/AN/A–
UAEN/AN/A–60810642030460816088363
VietnamN/AN/A–8891111–356445–755889–
USA ††133518204152622501860610321129019323
Caribbean §N/AN/A–1675242946008151N/AN/A–
% Typical number of storeys has only been provided where identified by local offices
%% Australia figures are an average for Melbourne and Sydney
† South Africa figures are an average for Durban, Johannesburg and Pretoria
†† USA figures are for an average for 11 cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco, Seattle and Washington DC
§ Caribbean figures are an average for the Cayman Islands and the British Virgin Islands
Exchange rates current at 3 December 2001 as published in the London Financial Times
ºÚ¶´ÉçÇø costs: residential and retail (€/³¾2)
High-rise apartmentsShopping centreProvinical/suburban hotel %%Provinical/suburban hotel %%
€/³¾2€/³¾2floors%€/³¾2€/³¾2floors%€/³¾2€/³¾2floors%€/³¾2€/³¾2floors%
Countrylowhigh(typical)lowhigh(typical)lowhigh(typical)lowhigh(typical)
Cyprus610871–5221045–10451480–610871–
Czech Republic5137541063390521056165986829053
Denmark1142194861142204522418335910201526873
Finland12451800497511942171619015149717163
France88411361077711742137216778213424394
Germany863108910103714514135416726103714514
Greece641916–5491098–10981555–641916–
Hungary55765675778552954139275177754
Ireland114316515190524122228529205190524124
Italy9811911414461963112651911490415242
Netherlands66510821087611931194722538169018634
Poland6261095–7821117211721598–8771280–
Romania4364908N/AN/A–10351308118179267
Slovakia392576104846912807115285216913
Spain902150312361120221202180315902150310
Sweden82610354124414433182921223142216103
Switzerland9831356–108514242162818996135614246
UK1473246981290195122349282710175221504
Argentina4486162561684037841008205046164
Australia †8131104155529002135117722510751365–
China44559435972121441187161925945134915
Hong Kong13611719451575179041604229125N/AN/A–
India1983031530345438851515103264087
Indonesia408459–357408–663765–510612–
Israel4755281079111212112114511089710023
Japan17872195207171787526403955202204247710
KenyaN/AN/A–396481352366564245665
Malaysia1765581525052934411029–353735–
New Zealand6508822039550–10681208–836975–
Oman7481276–7251741–7981436–6091117–
Philippines387580302583224709860354305168
Saudi Arabia923151978931519211911444795315294
Singapore1055130525793976–13721757–11831281–
South Africa ††3024446250308154365243264161
Thailand458560203314584713891203825093
UAE6391216156841824376018241563910647
Vietnam8001000–655800–12001500–9441167–
USA §10941900191023159722156297215146119515
Caribbean §§113918373113916982184324464133518994
% Typical number of storeys has only been provided where identified by local offices
%% Excludes furniture, fittings and equipment
† Australia figures are an average for Melbourne and Sydney
†† South Africa figures are an average for Durban, Johannesburg and Pretoria
§ USA figures are for an average for 11 cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco, Seattle and Washington DC
§§ Caribbean figures are an average for the Cayman Islands and the British Virgin Islands
Labour rates (€/hour)
ÌýBasic rate %ÌýÌýAll-in rate %% Ìý
Country Unskilled Semi-skilled SkilledUnskilled Semi-skilled Skilled
Cyprus7.498.109.149.239.9311.32
Czech Republic1.512.714.524.836.799.95
Denmark18.8121.5024.1824.8328.3731.92
Finland8.5811.2713.2914.80 19.6822.87
France8.3810.1911.8116.4820.3323.16
Germany8.7810.7417.0728.1330.6835.79
Greece7.878.519.619.7010.4211.90
Hungary1.312.193.383.785.968.75
Ireland11.4713.0414.3220.9523.7429.20
Italy10.3311.3612.9122.7524.6626.13
Netherlands––27.23––31.76
Poland2.343.103.594.365.906.62
Romania0.851.241.421.272.052.48
Slovakia1.152.073.463.694.957.37
Spain10.8215.0321.0412.0215.0319.23
Sweden8.8912.5415.6815.6821.4330.31
Switzerland23.0625.5732.1537.1841.1746.29
UK8.039.1710.6710.5712.1414.16
Argentina2.803.13 3.47 5.60 6.10 6.72
Australia †9.4610.21 10.55 18.36 19.47 20.20
China0.310.47 0.81 0.35 0.54 0.93
Hong Kong10.88–17.19 13.03 –19.76
India0.280.38 0.48 0.31 0.44 0.54
Indonesia0.220.30 0.37 0.34 0.46 0.57
Israel5.809.50 10.82 7.39 11.87 13.72
Japan16.6920.96 27.49 25.04 31.48 41.18
Kenya0.300.47 0.64 0.50 0.79 1.08
Malaysia–––1.62 2.06 3.38
New Zealand6.739.75 12.08 7.90 11.38 13.93
Oman0.871.16 1.60 1.89 2.32 2.90
Philippines0.670.81 0.94 0.77 0.93 1.08
Saudi Arabia1.491.94 2.98 2.68 3.57 4.47
Singapore2.202.93 3.66 3.60 3.72 3.96
South Africa ††1.011.54 2.01 1.28 1.96 2.63
Thailand0.510.89 1.27 0.64 1.02 1.40
UAE1.371.40 1.52 1.821.92 2.22
Vietnam0.330.50 0.67 –––
USA §25.7930.9237.0536.5444.5254.01
Caribbean §§ 10.83 14.30 19.32 13.9618.93 27.20
% Basic labour rate is the amount paid to a site operative, based upon figures promulgated by the national wage fixing body of each country. In many cases employers may be paying above or below the basic rate.
%% All-in rate is the gross hourly cost of employing the site operative, based upon the standard working week for the country, including items such as insurances, statutory contributions and taxes. The all-in labour rate for the Middle East includes for the cost of importing labour and for food and accommodation.
† Australia figures are an average for Melbourne and Sydney
†† South Africa figures are an average for Durban, Johannesburg and Pretoria
§ USA figures are for an average for 11 cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco, Seattle and Washington DC
§§ Caribbean figures are an average for the Cayman Islands and the British Virgin Islands
ºÚ¶´ÉçÇø material supply prices %
Steel rebar Structural OrdinaryConcrete Aggregate Sand Plaster Carcassing Common Concrete Glass
Country€/³Ù´Ç²Ô²Ô±ð€/³Ù´Ç²Ô²Ô±ð€/³Ù´Ç²Ô²Ô±ð€/³¾3€/³Ù´Ç²Ô²Ô±ð€/³Ù´Ç²Ô²Ô±ð€/³Ù´Ç²Ô²Ô±ð€/³¾3€/1000€/³¾2€/³¾2
Cyprus31311326637101080313313810
Czech Republic4958577243111051172217119
Denmark490490228861616293–22813–
Finland49810491075799303464–935
France793970137792127–––2029
Germany3986371006518131351503222153
Greece3305947039121284330293812
Hungary49777533711101112271991215
Ireland6281016229891081141187444638
Italy3415681037414131211601031130
Netherlands84413821088825291623481832531
Poland3175107259–4101256190128
Romania381381504416167659914747
Slovakia4157286136994314218398
Spain36133196721503–1915060–24
Sweden4186691009421112726272931621
Switzerland9551176153922426187270–1643
UK55779614310519192203502871337
Argentina4488961257322713390134822
Australia %%6296681366023191535452721123
China329405494378301963547
Hong Kong26749480641278621480117
India4315836295821751151538912
Indonesia2454384534544––27–5
Israel475160910047128211––618
Japan254635801092124–481–1419
Kenya5785141–1311–170–613
Malaysia3537945937155132215625–
New Zealand585743103771319–3953161058
Oman580161084384664319–715
Philippines38749486641410–279––64
Saudi Arabia4321191836096104238n/a442
Singapore311433492777–4583516
South Africa †3641119534311710930665514
Thailand298509616454127–1389
UAE28645652401118258456–414
Vietnam3333336437531194423–6
USA ††796189517610818172532424272261
Caribbean §74741881681985252–528–1466
% All rates include delivery to site and local discounts, but exclude VAT and local taxes
%% Australia figures are an average for Melbourne and Sydney
† South Africa figures are an average for Durban, Johannesburg and Pretoria
†† USA figures are for an average for 11 cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco, Seattle and Washington DC
§ Caribbean figures are an average for the Cayman Islands and the British Virgin Islands
Inflation rates and forecasts
Retail price inflation (%) ºÚ¶´ÉçÇø tender price inflation (%)ÌýÌýÌýÌý
Country199519961997199819992000200120022003199519961997199819992000200120022003
Cyprus–––––––––7.76.56.78.06.311.910.75.2–
Czech Republic9.010.19.29.92.12.76.64.64.518.33.510.78.52.03.01.93.05.0
Denmark2.12.12.33.45.51.34.24.2–3.72.92.83.41.34.53.14.85.7
Finland1.3-0.82.42.62.02.81.6-2.62.7-0.4-7.49.111.213.34.9-4.8-5.84.5
France1.82.70.90.92.11.71.51.7–1.82.71.81.71.61.12.31.6–
Germany2.21.52.41.00.71.92.41.4–2.42.1-2.5–2.52.5-0.2-0.1-0.1
Greece––––––––––––—–––––
Hungary29.823.018.014.510.59.57.57.0–27.314.019.011.510.09.57.06.0 –
Ireland1.82.63.43.310.215.7–––1.82.63.43.310.215.76.8––
Italy6.43.82.21.40.72.84.13.93.12.02.30.82.50.82.43.13.02.9
Netherlands1.72.52.41.82.42.44.72.2–1.81.82.61.75.03.25.0––
Poland28.019.515.310.68.510.34.0––21.921.114.17.08.63.72.6––
Romania–22.860.2–10.1–––––––18.542.642.224.5––
Slovakia–10.08.916.25.33.86.06.05.010.010.012.112.05.33.16.0-2.81.9
Spain4.93.12.31.52.92.43.72.4Ìý3.34.02.32.36.72.2–––
Sweden1.93.81.81.81.85.25.05.55.21.93.81.81.81.85.25.05.55.2
Switzerland–0.80.82.11.61.81.11.01.3–-2.0-2.0-1.01.61.62.01.0–
UK3.52.43.13.41.33.01.72.62.53.55.05.54.62.53.53.53.53.5
Argentina1.9-0.92.92.0-1.8-0.51.11.0–0.8-5.01.1–-0.2-1.71.01.0–
Australia4.71.20.80.81.23.04.84.5–2.13.12.02.92.84.64.44.24.0
China––1.8-1.5-1.3––––-1.5-2.5-2.5-1.2-0.20.80.00.30.5
Hong Kong8.27.05.3-1.7-4.0-3.0-3.1-0.61.312.410.220.0-7.7-4.5-11.5-3.1-1.60.8
India–––15.03.14.0–––8.14.54.55.83.56.34.33.2–
Indonesia3.93.46.974.41.85.9–––2.12.310.048.513.812.1–––
Israel8.110.67.08.61.4–0.92.52.78.98.18.36.22.12.20.82.51.6
Japan0.8-1.6-0.6-3.5-2.6-1.0-1.3––-2.7-1.3-0.3-2.2-1.6-1.3-0.9––
Kenya–––—–––––10.09.16.7–6.32.97.120.022.2
Malaysia–––––1.5–––2.00.93.20.44.00.8-1.3––
New Zealand2.92.6–2.12.42.4–––3.10.6–-0.40.60.81.71.31.3
Oman––––––––––––––––––
Phillipines––5.310.25.7–––––––––––––
Saudi Arabia5.00.92.00.41.52.01.71.72.4–––––––––
Singapore––2.3-1.40.91.7–––5.28.92.7–-14.2-8.2–––
South Africa–6.04.04.1–––––6.85.76.27.211.86.54.26.64.0
Thailand––7.05.8–2.3–––5.00.87.95.9-14.632.5–––
UAE4.5–4.38.3–-3.8–––4.5–4.38.30.1–1.0––
Vietnam––––––––––––––––––
USA%2.32.12.94.52.32.6–––3.32.43.85.94.43.83.22.03.5
% US building tender price inflation figures are an average for nine cities: Boston, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco and Seattle