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Labour rates (€/hour)
 Basic rate*All-in rate**
Country UnskilledSemi-skilled SkilledUnskilled Semi-skilledSkilled
Belgium 27.0028.4033.50
Czech Republic1.722.825.335.177.2110.98
Finland9.0012.0013.1015.6020.7024.10
France9.4011.4013.1617.9022.0025.10
Hungary1.742.524.074.657.1710.47
Italy12.0014.0016.0024.2424.2528.16
Poland1.802.202.633.294.285.05
Slovakia1.101.662.561.342.083.66
Spain16.0017.0021.0018.0019.0025.00
United Kingdom8.249.4110.9611.1612.7614.86
Argentina0.730.871.161.311.602.12
Australia † 11.2011.5412.3423.6024.1825.27
China0.390.640.930.510.811.22
Hong Kong8.21 12.539.39 14.36
India0.250.350.420.290.390.48
Indonesia0.310.360.430.420.550.65
Israel6.026.867.428.039.159.90
Japan13.4016.9422.1820.1025.4133.26
New Zealand10.7513.7114.7813.7116.1318.28
Oman0.981.251.741.802.122.61
Philippines0.530.660.750.570.711.01
Saudi Arabia1.121.342.232.012.683.35
Singapore1.762.342.932.882.973.17
Thailand0.440.781.110.550.881.22
UAE1.201.311.431.481.711.94
Vietnam2.013.214.42   
USA § 27.6837.6644.42
* 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 11 cities: Boston, Denver, Fort Lauderdale, 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)
Belgium1300.002000.00 1750.002350.0030.00350.00600.001.001000.001500.003.00
Czech Republic564.44752.596.00689.871191.606.00344.94783.941.00627.16878.026.00
Finland1250.001580.005.001380.001680.005.00780.00960.001.001160.001380.002.00
France1500.002000.00 2000.002500.0033.00450.00700.001.001100.001500.003.00
Hungary484.55581.465.00658.99755.907.00310.11387.641.00465.17620.233.00
Italy985.001215.008.001160.001900.008.00565.00850.001.001595.002320.001.00
Netherlands1140.001383.006.001362.001811.008.00546.00838.001.001241.001443.001.00
Poland545.48855.65 727.301112.35 342.26545.48 N/AN/A 
Slovakia488.29683.615.00561.54854.5110.00317.39561.541.00488.29683.614.00
SpainN/AN/A 900.001385.0010.00360.00660.00 780.001265.004.00
United Kingdom1285.711535.717.001857.142800.008.00350.00592.861.001414.291835.714.00
ArgentinaN/AN/A 304.77406.3620.00N/AN/A N/AN/A 
Australia †0.000.00 1192.091759.3117.00274.51407.981.00793.211000.993.00
China556.92810.0725.00536.67789.8225.00283.52486.042.00637.93931.583.00
Hong KongN/AN/A 1036.561360.4945.00442.70647.8515.001306.501662.823.00
IndiaN/AN/A 329.92398.1710.00259.55306.741.00306.74389.336.00
IndonesiaN/AN/A 259.77405.90 194.83227.30 194.83238.13 
IsraelN/AN/A 550.77634.797.00154.03175.501.00550.77634.796.00
JapanN/AN/A 1516.922333.1415.00373.461039.521.001170.421848.0310.00
New Zealand876.301048.3320.001048.331236.4925.00188.16354.82 591.37763.403.00
OmanN/AN/A 457.12783.636.00239.44598.611.00N/AN/A 
PhilippinesN/AN/A 301.73482.7640.00181.04241.382.00301.73377.162.00
Saudi ArabiaN/AN/A 715.081229.057.00491.62782.121.00N/AN/A 
SingaporeN/AN/A 824.031004.4425.00312.06453.462.00692.38828.902.00
ThailandN/AN/A 525.73630.88 168.23210.29 N/AN/A 
UAEN/AN/A 536.24604.6924.00296.64410.731.00513.42638.925.00
VietnamN/AN/A 669.70830.43 262.52332.17 562.55658.99 
USA §   1211.791751.36 416.22734.39 914.651241.35 
Cayman IslandsN/AN/A 1676.242514.365.00419.06628.591.00   
* 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 24 November 2003 as published in the London 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)
Belgium1100.001600.006.00   1800.002500.0020.001100.001500.008.00
Czech Republic627.16940.7310.00658.511003.452.001097.521818.758.00736.911003.453.00
Finland1210.001760.004.00960.001160.002.001680.001860.005.001460.001680.003.00
France1200.001750.008.00   1800.002500.009.001150.001600.008.00
Hungary484.55600.858.00542.70814.052.00910.961337.367.00484.55736.524.00
Italy1130.002160.004.001650.002680.001.001550.002470.004.001050.001700.002.00
Netherlands711.001132.0010.00947.001286.001.002059.002386.008.001825.001925.004.00
Poland481.30834.26 609.65855.65 909.131219.30 673.83973.30 
Slovakia439.46732.448.00488.29610.372.00732.441025.427.00537.12732.446.00
Spain950.001565.0012.00600.001325.002.001320.001920.0015.00960.001550.0010.00
United Kingdom1350.002328.578.001171.431835.712.002142.862671.4310.001600.002028.574.00
Argentina242.37333.8015.00N/AN/A 348.31447.0010.00248.17303.324.00
Australia †1167.801516.6215.00621.821031.30 1528.762089.91 1207.231600.04 
China313.90405.0335.00607.55891.084.00810.071113.8525.00658.18931.5815.00
Hong Kong906.991133.7445.001220.121382.084.001166.131576.4425.00N/AN/A 
India193.40273.8815.00295.79384.713.00896.631533.7110.00318.54398.177.00
Indonesia292.25400.48 194.83227.30 400.48519.55 313.89378.84 
Israel351.94392.0810.00586.25830.832.00830.83952.1910.00664.66737.483.00
Japan1516.921863.4320.00608.311516.925.001863.433149.3520.001632.432102.1310.00
New Zealand822.541102.09 494.60822.54 1354.771526.80 623.62849.42 
Oman544.19979.544.00761.861197.213.00653.031306.056.00435.35707.445.00
Philippines316.81528.0245.00241.38467.675.00377.16678.8850.00331.90407.338.00
Saudi Arabia826.821229.057.00715.081229.052.001229.051564.257.001005.591340.784.00
Singapore633.87755.7725.00633.87780.153.001199.471609.055.001038.571160.474.00
Thailand462.64567.79 336.47441.61 693.96799.11 357.50462.64 
UAE581.87741.6025.00627.51889.924.001140.931369.1135.00912.741140.9322.00
Vietnam594.70739.35 487.54594.70 889.371109.03 701.85862.58 
USA § 658.121069.85 1441.352062.90    
Cayman Islands1047.651843.863.00896.791340.992.001592.432095.305.001047.651592.432.00
* 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, Hawaii, Las Vegas, Los Angeles, New York, Phoenix, Portland, San Francisco, Seattle and Washington DC
Exchange rates current at 24 November 2003 as published in the London Financial Times.
Building material supply prices *
 Steel rebar high yieldStructural steelOrdinary cementConcrete (20 N/mm2)Aggregate all gradesSand (coarse)PlasterCarcassing timberCommon bricksConcrete blocks (100 mm)Glass (6 mm)
Country€/tonne€/tonne€/tonne€/m3€/tonne€/tonne€/tonne€/m3€/1000€/m2€/m2
Belgium    13.8013.80210.00372.00  25.00
Czech Republic517.40906.2476.8347.0412.2311.60 181.88228.9111.7610.19
Finland520.001140.00105.0062.009.909.90312.00216.00  35.70
France870.001030.00152.0099.0044.0044.00272.00362.00384.003.3632.00
Hungary523.32814.0532.9574.4311.2410.47116.29263.60213.2012.4015.89
Italy403.00560.00103.1071.9014.4215.12135.00160.10150.0011.1631.30
Poland201.72427.8360.7538.0812.418.5685.57198.94147.6010.7010.05
Slovakia561.54878.9390.3357.378.7915.8773.24207.52732.448.7953.71
Spain390.00900.0078.0060.0012.0013.0058.00150.0090.008.0033.00
United Kingdom528.57750.00141.43104.2921.4321.43208.57325.71321.4311.4335.71
Argentina412.17 44.9946.7313.064.3571.9858.0536.865.6621.48
Australia †603.62682.48172.8972.8025.7820.93166.83591.48303.3215.1742.47
China243.02308.8434.4332.404.564.5640.50162.0127.343.653.04
Hong Kong302.33399.5152.9135.635.072.8159.39162.2958.417.024.86
India393.87512.9548.3651.2923.717.9044.33 30.599.1611.58
Indonesia255.84314.8857.0730.507.388.8617.22118.089.841.384.92
Israel373.41970.8651.3436.4110.2712.14205.37  4.2014.00
Japan323.41616.0164.6888.5516.9420.17 408.11 10.4015.02
New Zealand682.76860.17119.35102.1516.1322.58 510.73  59.14
Oman404.881208.1054.4227.212.835.4447.89239.44 4.3510.88
Philippines342.46377.1656.5745.269.817.54 196.12 2.2645.26
Saudi Arabia357.541117.3269.2742.466.704.4778.21178.77n/a3.3533.52
Singapore275.28346.1934.3422.195.365.36 35.59 4.3912.09
Thailand315.44504.7051.5252.577.366.10113.56 14.726.317.15
UAE288.651135.2249.7439.027.079.13 456.37 8.1070.74
Vietnam295.20337.5352.5036.168.305.09 32.1528.933.215.09
USA §461.811129.1594.7352.768.6513.46 206.56  43.12
Cayman Islands491.983687.73150.02171.8132.4432.44 348.66 10.7732.69
* 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 (%)
Country19961997199819992000200120022003*2004*19961997199819992000200120022003*2004*
Belgium 1.100.691.872.513.101.331.93  0.401.892.154.315.601.303.171.33
Cyprus         6.496.718.006.3511.9410.675.22  
Czech Republic10.109.209.892.082.866.673.053.974.173.5010.708.402.083.021.980.02.183.42
Denmark2.102.303.405.501.302.302.002.20 2.862.783.381.313.233.755.425.71 
Finland -0.802.402.341.432.922.931.151.841.90-7.409.1015.409.214.87-3.741.592.131.11
France2.702.802.432.661.701.504.764.293.562.702.20-0.203.043.332.673.682.943.19
Germany1.502.401.000.701.902.401.401.20 2.10-2.500.02.502.500.200.40  
Hungary23.0018.0014.5010.509.507.506.006.007.0014.0019.0011.5010.009.507.005.007.00 
Ireland2.593.363.2510.2415.716.005.004.40 2.593.363.2510.2415.716.794.00  
Italy3.802.201.710.842.501.638.005.194.232.301.001.980.972.882.804.551.742.56
Netherlands2.502.401.802.402.404.702.203.30 1.802.601.705.003.203.106.703.501.20
Norway2.502.402.152.682.701.811.511.32 1.702.003.922.744.133.702.722.98 
Poland19.5015.3010.608.5010.304.002.100.70 21.1014.107.008.603.702.601.001.00 
Romania22.7760.23 10.10       18.5342.6124.2239.9434.3118.59 
Slovakia10.008.9016.165.143.766.006.006.604.2710.0012.0012.055.183.035.000.06.005.59
Spain3.102.261.472.902.403.702.402.20 4.032.332.276.672.20    
Sweden3.811.831.801.775.224.965.515.22 3.811.831.801.775.224.965.515.22 
Switzerland0.800.802.081.651.721.130.930.830.91-2.00-2.000.00.511.522.000.01.081.94
United Kingdom2.403.103.401.503.001.402.302.702.703.505.003.502.503.503.003.502.503.00
Argentina-0.900.300.70-1.78-0.71-1.5241.243.659.15-5.001.850.100.11-1.71-0.8280.925.565.26
Australia1.200.800.801.203.003.003.003.003.003.061.982.912.834.593.503.304.004.40
China 1.80-1.50-1.30     -2.50-2.13-1.19-0.230.590.00.450.510.41
Egypt    2.60    5.435.154.903.333.233.133.03  
Hong Kong7.005.00-1.90-3.88-2.02-3.09-2.13-3.261.1210.2019.00-7.56-4.55-11.43-8.60-8.245.132.44
India  15.003.104.00    4.494.545.793.536.264.323.20  
Indonesia3.406.9074.401.805.90  10.00 2.3010.0048.4813.7812.11    
Israel10.606.988.621.320.001.426.46-1.012.008.108.305.822.532.041.036.554.603.33
Japan-1.60-0.61-3.47-2.64-0.98-0.55-0.412.37 -1.33-0.31-2.19-1.60-1.302.74-1.280.10 
Kenya         3.107.000.06.542.632.564.178.007.41
Malaysia    1.50    0.903.200.404.000.78-1.29   
New Zealand2.600.002.102.402.40    0.600.0-0.400.600.902.081.453.630.83
Philippines 5.3010.205.70        0.00     
Saudi Arabia0.902.000.491.462.211.600.932.750.89         
Singapore 2.30-1.400.901.70    -0.993.00-14.56-9.095.00-9.520.02.63 
South Africa6.004.004.10      5.706.207.2011.806.504.206.604.00 
Sri Lanka15.949.579.374.6912.589.539.12  4.414.764.222.822.5716.763.98  
Taiwan-0.534.980.590.59-1.59-1.11-0.26  -1.831.24-0.261.14-0.96-0.88-0.35  
Thailand 7.005.80 2.30    0.807.905.88-14.587.3210.61-3.427.09 
UAE0.004.358.330.00-3.850.000.00  0.04.308.300.100.00.990.0  
USA §2.102.904.502.302.601.602.20 2.363.805.874.383.803.403.160.828.00
* 2003 and 2004 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