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Labour rates (*/hour)
 Basic rate*All-in rate**
Country Unskilled Semi-skilled SkilledUnskilled Semi-skilledSkilled
Belgium   28.10 29.50 34.80
Cyprus10.23 11.00 12.53 13.71 14.56 16.28
Czech Republic1.94 3.55 5.175.818.0711.62
Finland9.20 12.30 14.20 15.90 21.20 24.60
France9.80 11.90 13.70 18.60 22.90 26.10
Greece4.67 5.33 7.33 9.38 10.04 12.82
Hungary2.00 2.83 4.60 5.05 7.88 11.32
Ireland6.65 13.16 15.90 11.95 23.66 28.68
Italy13.00 15.00 17.00 24.90 27.20 28.90
Norway11.71 17.88 22.19 30.83 38.84 42.54
Poland2.13 2.54 3.06 4.15 4.95 5.95
Romania3.65 4.18 5.22 4.49 5.22 6.58
Slovakia2.04 2.54 4.20 4.20 5.09 7.63
Spain19.00 20.00 23.00 21.50 22.50 26.00
Sweden12.33 13.45 15.70 27.80 30.27 35.31
United Kingdom8.83 10.09 11.74 12.06 13.77 16.03
Argentina0.64 0.77 1.03 2.13 2.28 2.46
Australia †11.36 11.85 12.49 24.33 24.91 26.02
China0.37 0.60 0.88 0.46 0.82 1.19
Hong Kong6.98  11.25 8.05  12.90
India0.23 0.24 0.27 0.34 0.36 0.39
Indonesia0.36 0.43 0.52 0.50 0.59 0.71
Israel5.18 5.79 7.43 6.48 7.25 9.50
Japan12.70 15.49 20.12 19.09 23.27 30.17
Kenya  0.22   0.37
Malaysia8.53 10.52 19.84    
New Zealand9.73 15.14 15.14 14.05 20.54 20.54
Philippines0.50 0.59 0.67 0.54 0.63 0.90
Qatar1.10 1.19 1.31 1.35 1.57 1.78
Saudi Arabia1.01 1.21 2.01 1.81 2.41 3.02
Singapore1.66 2.21 2.76 2.72 2.81 3.00
South Africa1.03 1.94 3.88 1.45 2.71 5.43
South Korea40.72 41.48 48.27 41.48 48.27 55.81
Sultanate of Oman0.73 1.04 1.53 1.51 1.86 2.31
Thailand0.44 0.76 1.09 0.54 0.86 1.19
United Arab Emirates1.11 1.21 1.32 1.38 1.59 1.80
Vietnam1.43 2.39 3.58 2.15 3.34 4.30
USA §33.77 42.77 51.03 28.3935.8845.59
British Virgin Islands6.77 9.02 12.78 9.77 15.04 18.80
* 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 the cost of importing labour and for food and accommodation.
† Australia figures are an average for Melbourne and Sydney
§ USA figures are for an average for 10 cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco and Seattle.
Building costs: Offices and industrial (€/m2)
 City-centre heated officesCity-centre air-conditioned officeFactories, warehouse, industrial Out-of-town business park
 €/m2€/m2floors*€/m2€/m2floors€/m2€/m2floors€/m2€/m2floors
Country low high(typical) low high(typical)low high(typical) low high(typical)
Belgium1,3502,050 1,8002,400 360620 1,0301,550 
Cyprus8481,542 9421,714 8571,542 8571,714 
Czech Republic67887267621,246638190416629206
Finland1,3001,64051,4301,740581099011,2001,4302
France1,6002,100 2,2002,800 480750 1,1501,600 
Greece1,0002,500 1,0002,500 8001,500 1,2002,000 
Hungary5296525692875834642815096724
Ireland1,8002,00051,9502,200565080011,5001,600 
Italy1,0201,32081,2202,02086001,40011,6502,4501
Netherlands1,1401,38361,3911,850856787211,2671,4741
Norway1,2332,21961,3562,34367401,72611,4802,3433
Poland569924 7351,185 355521 N/AN/A 
Romania4185746574783726141814186275
Slovakia4587125585890833158515096874
SpainN/AN/A 9901,51010480840 9001,4004
Sweden1,1211,45751,5701,90658971,57018971,5704
United Kingdom1,3431,60071,9292,914837964311,4711,9144
ArgentinaN/AN/A 30844920N/AN/A1N/AN/A 
Australia †   1,2551,7841728841518011,0143
China501729254837112525544725748393
Hong KongN/AN/A 9511,28045456611151,1931,5234
IndiaN/AN/A 151352 84185 252419 
IndonesiaN/AN/A 230360 168201 168209 
IsraelN/AN/A 553636716419015536366
JapanN/AN/A 1,4462,2251544899111,2261,76210
Kenya24135310334418101762231N/AN/A4
MalaysiaN/AN/A 218377 129198 N/AN/A 
New ZealandN/AN/A 1,2971,514 216324 9191,243 
PhilippinesN/AN/A 362470 161215 268336 
QatarN/AN/A 671930243314651N/AN/A5
Saudi ArabiaN/AN/A 6841,16774837851N/AN/A 
SingaporeN/AN/A 7799492529542916547833
South AfricaN/AN/A 439775102333881N/AN/A2
South Korea7471,222258301,3572537767936039807
Sultanate of OmanN/AN/A 431745 225569 412627 
ThailandN/AN/A 497631 162229 N/AN/A 
United Arab EmiratesN/AN/A 5346062429841116166375
VietnamN/AN/A 597741 234296 502588 
USA §7531,130 1,1991,853 436810 1,2921,938 
British Virgin IslandsN/AN/A 1,2031,54135646771N/AN/A 
* Typical number of storeys has only been provided where identified by local offices
† Australia figures are an average for Melbourne and Sydney
§ USA figures are for an average for 11 cities: Boston, Denver, Fort Lauderdale, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco and Seattle
Exchange rates current at 29 November 2004 as published in the Financial Times.
Building costs: Residential and retail (€/m2)
 High-rise apartmentsShopping centreHigh-quality capital city hotel ** Provinical/suburban hotel **
 €/m2€/m2floors*€/m2€/m2floors*€/m2€/m2floors*€/m2€/m2floors*
Country low high(typical) low high(typical)low high(typical) low high(typical)
Belgium1,1401,650    1,8502,600 1,1301,550 
Cyprus8571,371 7711,371 1,7142,228 9421,285 
Czech Republic6138401071098521,1561,80887751,0013
Finland1,2501,82049901,20021,7401,93051,5101,7403
France1,3001,850    1,9502,700 1,2001,6508
Greece1,0002,000 9002,000 2,0003,000 1,2001,700 
Hungary529733861189629771,42575507944
Ireland1,4501,70052,0502,60032,4003,00051,8502,3004
Italy1,2202,24041,7802,84011,7502,65041,1001,7502
Netherlands7231,152109671,31411,7102,04381,5901,6924
Norway1,6032,21949861,85022,5893,20661,4801,973 
Poland533948 521865 9481,303 711995 
Romania470627841862757311,044124186275
Slovakia382687850963627631,06875607636
Spain1,1001,700127501,67521,4502,200151,0501,78010
Sweden8971,34571,6822,01841,6822,35451,2331,9063
United Kingdom1,4002,42981,2291,92922,2292,786101,6572,1144
Argentina26941015N/AN/A 385500102633214
Australia †1,3111,643306521,042 1,5512,113 1,2431,6254
China2643653554783948391,0762560282015
Hong Kong8441,077451,1541,30041,0961,48425N/AN/A 
India140321 101235 637990 201319 
Indonesia260356 168201 352461 277335 
Israel4495351660465628291,123157087603
Japan1,4461,784205801,44652,4453,524201,9972,44510
KenyaN/AN/A6251306334342762322975
Malaysia139337 188615 417714 317714 
New Zealand1,0271,189 514865 1,4051,622 1,0811,297 
Philippines282470 215416 362604 295362 
Qatar671930257441,08541,1471,353359191,14722
Saudi Arabia7751,16776841,16721,1771,50979461,3084
Singapore59971425599737 1,1341,521 9821,097 
South Africa 4918406439620258184064917752
South Korea6039352560394399801,885248301,35712
Sultanate of Oman510931 5201,137 6181,235 4121,078 
Thailand459573 334459 669803 363478 
United Arab Emirates5857392563788841,1401,366359141,14022
Vietnam530659 435530 793989 626769 
USA § 7562,395 8091,426 1,4302,190 9631,408 
British Virgin Islands7891,1653N/AN/A 1,5041,95541,3911,6924
* 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
§ USA figures are for an average for 11 cities: Boston, Denver, Fort Launderdale, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco and Seattle
Building material supply prices *
 Steel rebar Structural OrdinaryConcrete Aggregate SandPlasterCarcassing Common Concrete Glass
Country€/tonne€/tonne€/tonne€/m3€/tonne€/tonne€/tonne€/m3€/1000€/m2€/m2
Belgium    15 15 216 379   26
Cyprus471 942 62 50 9 9 120 343 343 9 12
Czech Republic613 969 77 52 14 13 56 194 291 13 12
Finland718 1,352 107 63 10 10 344 209  10 36
France1,050 1,240 162 105 48 48 264 369 407 4 33
Greece500 950 50 55 10 10 110    15
Hungary  46 76 1 1  265 163 13 31
Ireland520 1,150 130 68 8 11  250 195 48 42
Italy490 560 107 78 14 15 135 160 140 11 31
Norway801 2,343 185 92 13 13 284 333 740 27 40
Poland438 592 66 45 16 7 142 213 133 9 12
Romania543 1,044 183 63 26 31 198 104 178 10 31
Slovakia763 1,018 102 69 10 17 81 221  10 60
Spain880 1,050 90 70 14 15 63 154 99 14 37
Sweden1,009 1,121 112 135 11 20 370   17 28
United Kingdom740 1,021 154 94 21 24 266 353 284 11 46
Argentina577  62 43 13 5 84  47 7 17
Australia †832833185882421835803301828
China328 413 32 27 5 5 40 197 35 4 3
Hong Kong388 475 48 37 4 2 56 146 55 4 8
India453 503 49 42 6 4   27 3 8
Indonesia398 545 51 33 10 8 19 285 23 12 7
Israel570 1,295 66 36 9 8 138   4 12
Japan448 808 62 84 16 19  389  10 14
Kenya510 835 93 51 9 8    5 11
Malaysia333 575 40 24 6 10 79 105 52 2 10
New Zealand946 676 127 95 16 22  324 389 14 51
Philippines389 403 50 50 10 7  175  2 47
Qatar403 1,388 75 60 10 10  465  5 75
Saudi Arabia394 704 62 38 6 4 72 161 n/a3 30
Singapore369 327 36 21 6 5  34 83 4 11
South Africa775 1,486 103 71 14 11  362 172 5 39
South Korea365 450 48 38 10 9 55 82 32 8 7
Sultanate of Oman400 1,196 53 27 3 5 45 225  4 10
Thailand363 535 48 50 3 3 111  14 6 7
United Arab Emirates390 1,335 70 56 7 9  462  4 67
Vietnam263 301 47 32 7 5  29 26 3 5
USA § 7621,3548470912  3221244
British Virgin Islands677 2,932 135 150 53 53  564  13 71
* All rates include delivery to site and local discounts, but exclude VAT and local taxes
† Australia figures are an average for Melbourne and Sydney
§ USA figures are for an average for nine cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, Phoenix, Portland, San Francisco and Seattle
Inflation rates and forecasts
 Retail price inflation (%)Building tender price inflation (%)
Country1998199920002001200220032004*2005*2006*1998199920002001200220032004*2005*2006*
Belgium0.71.92.53.11.81.43.03.1  2.24.35.61.32.45.44.2 
Cyprus         8.46.012.210.95.2    
Czech Republic9.92.12.96.73.14.02.81.3 8.42.13.02.0 2.22.72.2 
Denmark3.45.51.32.32.0    3.41.33.23.85.45.7   
Finland2.31.42.92.91.21.64.02.0 15.49.24.9–3.71.64.50.81.3 
France2.42.71.71.54.84.44.23.82.0–0.23.03.32.73.43.26.23.02.2
GERMANY1.00.71.92.41.4    0.02.52.50.20.4    
Hungary14.510.59.57.56.05.07.06.0 11.510.09.57.05.05.06.06.0 
Ireland3.11.65.64.94.63.53.55.0 3.311.812.64.7–5.0–0.65.3  
Italy1.70.82.51.68.05.24.92.7 2.01.02.92.84.51.75.14.9 
Netherlands1.72.33.64.212.51.72.2  3.33.24.55.42.31.13.4  
Norway2.22.62.71.82.50.41.22.12.03.92.74.13.73.12.03.22.42.3
Poland10.68.510.34.02.10.75.0  7.08.63.72.61.01.05.0  
Romania 10.1    9.07.05.018.542.624.239.934.318.69.07.05.0
Slovakia16.25.13.86.06.06.65.3  12.15.23.06.05.02.910.2  
Spain2.91.95.67.05.70.8   2.91.96.56.15.71.6   
Sweden1.0 1.02.91.91.93.70.91.83.01.04.84.53.52.56.60.80.8
SWITZERLAND2.11.71.71.10.90.80.9 0.90.00.51.52.00.01.11.9 1.9
United Kingdom3.41.53.01.42.91.83.22.6 3.52.53.53.03.53.04.04.0 
Argentina0.7–1.8–0.7–1.541.23.67.09.2 0.10.1–1.7–0.867.919.825.012.0 
AUSTRALIA0.81.23.03.03.03.02.53.03.07.26.10.03.53.34.07.04.94.2
China–1.5–1.3       –1.2–0.20.60.00.50.50.22.0 
Hong Kong–1.9–3.9–2.0–3.1–3.2–2.20.02.2 –7.6–4.5–11.4–8.6–8.22.65.04.8 
India15.03.14.0      5.83.56.34.33.2    
Indonesia74.41.85.9  10.06.8  48.513.812.1      
Israel8.61.30.01.45.4–1.91.53.62.55.82.52.01.01.62.47.02.92.0
Japan–3.5–2.6–1.0–1.8–0.4–4.311.6  –2.2–1.5–1.4–1.1–1.33.50.8  
Kenya         13.612.07.16.73.16.12.911.1 
Malaysia  1.5      0.44.01.6–1.53.82.69.1  
New Zealand2.12.42.4      –0.40.60.92.11.61.114.43.51.4
Saudi Arabia0.51.51.91.90.92.85.41.71.7         
Singapore–1.40.91.7      –7.0–10.8–1.20.02.46.03.4  
South Africa4.1        7.211.86.54.26.62.68.05.34.1
South Korea 29.912.024.112.2–1.3   18.0–5.10.02.72.66.8   
Thailand5.8 2.3      5.9–14.67.310.6–3.47.17.3  
United Arab Emirates8.30.0–3.80.00.0    8.30.10.01.00.0    
USA § 4.52.32.61.62.2    6.64.94.33.21.62.412.09.17.1
* 2004 to 2006 figures are forecasts.
§ 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