Higher than a skyscraper: Singapore is Asia’s third most expensive market for construction

Costs will further inch up this year.

Singapore’s towering buildings come at a sky-high cost. The International Construction Costs Report released today by Arcadis showed that Singapore is Asia’s third most expensive market for construction and the fourteenth costliest market worldwide.

The report showed that construction costs are expected to inch up by 2-4% this year. On the flip side, the republic slipped 5 places in the global ranking compared to the previous global report.

The most expensive markets in Asia are Hong Kong and Macau. The most expensive markets in the world are Switzerland and Denmark.

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