SG sees strong construction activity despite high costs

Average construction costs stand at $3,974.05 per square metre.

Singapore’s construction activity remains strong, with contracts awarded in the first four months of 2025 being 60% higher year-on-year despite high costs, according to the Global Construction Market Intelligence report by Turner & Townsend.

According to the report, average construction costs in the city-state stand at $3,974.05 (US$3,104) per square metre with an anticipated inflation of 3% in 2025 and 5% in 2026.

However, the market continues to face tight contractor capacity and skilled labour shortages in mechanical, engineering, and plumbing trades.

There are also growing waste management challenges amidst rising disposal costs and stricter sustainability regulations.

($1=US$0.78)

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