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Labour rates (€/hour)
 Basic rate*All-in rate**
Country UnskilledSemi-skilled SkilledUnskilledSemi-skilledSkilled
Belgium–––26.00 27.3032.20
Cyprus5.17 5.60 6.65 9.19 9.89 12.00
Czech Republic1.62 2.92 4.86 5.19 7.29 10.70
Denmark22.87 24.22 26.91 37.00 41.71 45.21
Finland8.80 11.70 13.60 15.20 20.20 23.50
France8.90 10.80 12.50 17.00 20.90 23.80
Germany10.21 10.75 11.49 29.30 33.49 38.60
Greece4.70 5.90 7.05 5.50 6.10 6.90
Hungary1.41 2.32 3.93 4.02 6.21 9.53
Ireland14.45 14.69 14.89 25.97 26.24 26.76
Italy11.00 12.00 14.00 23.30 25.30 26.85
Netherlands––28.50 ––32.50
Norway11.53 17.64 21.71 32.57 39.35 42.74
Poland2.11 2.64 3.13 3.84 5.00 5.92
Romania0.76 1.02 1.28 1.13 1.53 1.95
Slovakia0.72 1.09 1.45 1.09 1.45 1.81
Spain11.50 15.00 21.00 12.60 15.60 19.80
Sweden9.46 13.42 16.61 16.61 22.88 32.12
Switzerland23.25 25.78 32.41 39.45 43.69 54.91
UK8.62 9.84 11.46 11.51 13.17 15.37
Argentina0.71 0.85 1.14 1.28 1.57 2.08
Australia†9.5310.2610.7118.9120.0020.86
China0.46 0.75 1.09 0.61 0.97 1.45
Hong Kong9.91 –15.18 11.45 –17.50
India0.25 0.35 0.44 0.28 0.41 0.56
Indonesia0.25 0.34 0.42 0.38 0.52 0.63
Israel6.75 7.60 8.86 8.44 9.71 11.19
Japan15.10 18.96 23.88 22.65 28.48 35.86
Kenya0.29 0.44 0.63 0.48 0.76 1.08
New Zealand8.62 11.08 12.31 11.57 13.54 15.51
Oman0.91 1.30 1.95 1.95 2.48 3.00
Philippines0.66 0.81 0.93 0.68 0.82 0.95
Saudi Arabia1.34 1.61 2.68 2.41 3.21 4.01
Singapore2.05 2.73 3.41 3.36 3.47 3.70
South Africa0.80 1.36 1.76 1.13 1.91 2.51
Sri Lanka0.19 –0.21 0.31 –0.36
Thailand0.46 0.81 1.16 0.58 0.93 1.28
United Arab Emirates1.43 1.57 1.71 1.78 2.05 2.32
Vietnam0.29 0.46 0.59 –––
USA§23.0727.3232.4132.1339.1847.56
Mexico2.22 3.45 7.38 2.95 4.43 9.65
Caribbean§§11.6015.1820.7415.2021.2130.33
* 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, 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
Building costs: Offices and industrial (€/m2)
 City-centre heated officesCity-centre air-conditioned officeFactories, warehouse, industrialOut-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)
Belgium13002000–17502350303506001100015003
Cyprus525963–5601051–315665–7011401–
Czech Republic66584367131232635777816489086
Denmark11441615614802287678013451127814803
Finland1230155051350165057609401114013502
France15002000520002500304006001110015003
Germany1350210041500250066181129481813294
Greece475900–5251000–300650–6901350–
Hungary4976215663795731139315186633
Ireland180023005195028005570770114001550–
Italy9551180811251850855013001155022501
Netherlands1125136461343178885408301122514251
Norway12892130–14252280–7731832–16282578–
Poland6271003–8401304–389639–n/an/a–
Romania738841980894992042281n/an/a–
Slovakia4826035531844836255514346754
Spainn/an/a–852137010305608–76212194
Sweden1089124341391154547378473122113751
Switzerland9231504–14361915–82112312109413682
UK1413166472041303883776441152319784
Argentinan/an/a–32543320n/an/a–n/an/a–
Australia**n/an/a–107116141724536516918813
China800104325776101825315509294610913
Hong Kongn/an/a–122215834551574615151819304
Indian/an/a–3253931025630213023846
Indonesian/an/a–7621088–326435–8831040–
Israeln/an/a–665765718521116657656
Japann/an/a–1617248715398110811247197010
Kenya341506841756982283291n/an/a–
New Zealand76391120911107125160308–5176652
Omann/an/a–57399063007561n/an/a–
Philippinesn/an/a–416567–227302–434472–
Saudi Arabian/an/a–803147275359371n/an/a–
Singaporen/an/a–961117225364529–808967–
South African/an/a–282453101612411n/an/a–
Sri Lankan/an/a–838122818109131–4565564
Thailandn/an/a–580696–162209–n/an/a–
United Arab Emiratesn/an/a–7109702431446415747385
Vietnamn/an/a–8171013–320405–686804–
USA†–––147920799497850112121863–
Mexico310859–320610–133294–197345–
Caribbean§n/an/a–1765257246428611n/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, 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
Building type definitions
City-centre heated office - Self-contained building of a size and height typical of major cities in each country; building costs include for accommodation to a good finish with raised floors, carpet, suspended ceilings, heating, lighting and power, but excluding partitioning.

Air-conditioned office - Self-contained building of a size and height typical of major cities in each country; building costs include for accommodation to a good finish with raised floors, carpet, suspended ceilings, air-conditioning, lighting and power, but excluding partitioning.

Factories, warehouses, industrial - Large, single-storey unit of steel portal frame and profiled aluminium cladding, with an eaves height of at least 6m, on an out-of-town site, finished to a basic shell with services and heating to the office space (about 5% of area).

Out-of-town business park - Self-contained low-rise building in a campus location. Costs include high-quality cladding and accommodation to a good finish with raised floors, carpet, suspended ceilings, air-conditioning, lighting and power, but excluding partitioning.
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*
Countrylowhigh(typical)lowhigh(typical)lowhigh(typical)lowhigh(typical)
Belgium90013506–––18002600201000,5008
Cyprus613876–525876–9631489–613876–
Czech Republic 5848101068197321135178387469733
Denmark121120856114419512242232969188424893
Finland11901730494011402165018205143016503
France100015006–––2000280020110015008
Germany16892132108181329483191267258234
Greece565820–485865–8651400–550780–
Hungary51862185387872911134674977454
Ireland114016505190024002230029205190424124
Italy110021004160026001150024004100016502
Netherlands70311201093512701203723608180519054
Norway12211764–10861696–27143121–13571968–
Poland552978–7021003–10531429–7771141–
Romania4565287n/an/a–1141126497538717
Slovakia4346038482555267596575316756
Spain913152212365121921219182815913152210
Sweden88010128138615183184820246134214963
Switzerland9911368–109414362164119156136814366
UK1452251281272197822316287310172721824
Argentina21629815n/an/a–379487102432984
Australia†965127215545895–13211798–105913824
China38250935849106741031143125849118815
Hong Kong10681312451415160841351184025n/an/a–
India1912921529243738841512103143937
Indonesia544653–462598–10881305–8701088–
Israel424472107071000210011287108018923
Japan16171986206481617519863357201740224010
Kenyan/an/a–367443346860763925195
New Zealand714960–431714–11821329–542738–
Oman70411732678153827561381654710424
Philippines397586–321416–699850–416510–
Saudi Arabia9371472780314722128417397107014724
Singapore73988225739910–13991877–12121354–
South Africa2824636211382238248363121612
Sri Lanka7489601544061949471249105656774
Thailand464580–348464–696812–348464–
United Arab Emirates65686125710103841052129835751102522
Vietnam725902–594725–10841352–8561052–
USA§9823058–8611395–17032448–11881633–
Caribbean§§114219063124818602180424604135519294
* 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
§§ Caribbean figures are an average for the Cayman Islands and the British Virgin Islands
Building type definitions
High-rise apartments - Multistorey typical of major cities in each country, apartments finished to a high standard, all floors served by lifts.
Shopping centre - Major shopping developments incorporating retail space, pedestrian areas and service areas, but excluding car parks.
High-quality capital city hotel - Fairly upmarket hotel in excess of 400 bedrooms, conference facilities, extensive restaurant, lounge and foyer areas, leisure facilities including indoor pool, retail and service areas.
Provincial/suburban hotel - Medium-sized hotel, conference facilities, extensive restaurant, lounge and foyer areas but no swimming pool or other leisure facilities.
Building material supply prices *
 Steel rebarStructural high yieldOrdinary steel Concrete cementAggregate (20 N/mm2)Sand all gradesPlaster (coarse)Carcassing timberCommon bricksConcrete blocks (100 mm)Glass (6 mm)
Country€/tonne€/tonne€/tonne€/m3€/tonne€/tonne€/tonne€/m3€/1000€/m2€/m2
Belgium––––13 13 206 360 ––25
Cyprus333 788 61 37 8 9 82 368 263 11 11
Czech Republic532 921 78 46 12 11 54 185 233 12 10
Denmark509 491 182 122 13 6 242 ––16 –
Finland490 1,082 103 61 9 9 300 212 –10 35
France835 990 146 95 43 43 262 348 370 3 30
Germany440 1,116 192 55 17 17 270 239 493 17 –
Greece420 450 90 50 10 10 170 –70 4 13
Hungary538 828 34 8 11 10 120 248 215 12 16
Ireland507 1,350 115 70 9 10 140 240 380 5 32
Italy346 560 103 72 15 15 121 160 150 11 31
Netherlands884 1,448 113 92 26 30 171 362 194 26 33
Norway678 1,968 190 98 14 14 299 339 678 27 41
Poland296 476 71 52 15 3 100 244 173 13 11
Romania354 782 68 35 16 16 86 554 137 3 8
Slovakia531 844 89 53 9 16 68 205 186 7 10
Spain391 690 102 72 66 7 43 150 78 –24
Sweden550 –107 99 23 13 236 261 374 14 –
Switzerland963 1,186 155 92 24 27 189 272 –16 44
UK549 785 149 110 22 22 220 345 306 11 38
Argentina342 1,082 41 35 10 2 56 71 29 5 21
Australia **635663158642319154 5272781124
China289 364 41 38 5 5 48 188 33 4 4
Hong Kong238 405 64 45 11 5 75 179 72 9 6
India384 56 58 52 22 7 46 139 35 9 11
Indonesia272 490 50 38 5 6 19 131 30 2 5
Israel380 1,055 80 42 10 8 169 ––5 15
Japan271 574 66 94 18 22 –435 –12 16
Kenya506 759 126 –11 10 –152 –4 11
New Zealand625 788 109 89 15 21 –468 468 –54
Oman485 1,446 65 33 3 7 57 287 –5 13
Philippines340 434 71 57 5 5 –246 –2 57
Saudi Arabia401 1,204 80 48 8 5 94 214 n/a4 37
Singapore260 404 38 26 6 6 –42 87 5 15
South Africa402 1,006 63 52 8 6 –251 80 6 21
Sri Lanka352 536 63 54 7 4 –318 20 2 6
Thailand278 482 53 58 3 4 ––14 7 8
United Arab Emirates318 1,359 60 45 8 10 –546 –9 75
Vietnam360 412 64 44 10 6 –39 35 4 6
USA †515 1,351 113 92 12 14 ––388 12 47
Caribbean §74244991892245959–623–1563
* 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 10 cities: Boston, Denver, Hawaii, Las Vegas, Los Angeles, 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 (%)Building tender price inflation (%)
Country199619971998199920002001200220032004199619971998199920002001200220032004
Belgium–1.10.71.92.53.11.3––––––––1.20.5––
Cyprus         6.56.78.06.311.910.75.2––
Czech Republic10.19.29.92.12.96.73.14.04.23.510.78.42.13.02.0–2.23.4
Denmark2.12.33.45.51.32.32.0––2.92.83.41.33.23.85.45.7–
Finland–0.82.42.31.42.92.91.0–1.0–7.49.111.28.75.82.5–3.8–0.9–
France2.72.82.42.71.71.54.03.5–2.72.2–0.23.03.32.73.03.0–
Germany1.52.41.00.71.92.41.4––2.1–2.5–2.52.50.20.4––
Hungary23.018.014.510.59.57.56.05.04.514.019.011.510.09.57.05.05.0–
Ireland2.63.43.310.215.76.05.04.4–2.63.43.310.215.76.84.0– –
Italy3.82.21.70.82.51.68.05.2–2.31.02.01.02.92.84.51.7–
Netherlands2.52.41.82.42.44.72.2––1.82.61.75.03.23.16.73.5–
Norway2.52.42.12.72.71.81.51.3–1.72.03.92.74.13.72.73.0–
Poland19.515.310.68.510.34.02.1––21.114.17.08.63.72.61.0––
Romania22.860.2–10.1–––––––18.542.624.239.934.318.6–
Slovakia10.08.916.25.13.86.07.34.54.310.012.012.15.23.06.07.53.95.6
Spain3.12.31.52.92.43.72.4––4.02.32.36.72.2––– –
Sweden3.81.81.81.85.25.05.55.2–3.81.81.81.85.25.05.55.2–
Switzerland0.80.82.11.71.71.10.90.80.9–2.0–2.0–0.51.52.0–1.11.9
UK2.43.13.41.53.01.21.22.02.83.55.03.52.53.53.03.53.53.0
Argentina-0.90.30.7–1.8–0.7–1.544.342.9–-5.01.80.10.1–1.7–0.891.015.8–
Australia1.20.80.81.23.03.03.03.03.03.12.02.92.84.63.53.34.0–
China–1.8–1.5–1.3––––––2.5–2.1–1.2–0.20.6–0.00.5–
Hong Kong7.05.0–1.9–3.9–2.0–3.1–2.1-1.1–10.219.0–7.6–4.5–11.4–8.6–7.1––
India––15.03.14.0––––4.54.55.83.56.34.33.2––
Indonesia3.46.974.41.85.9––––2.310.048.513.812.1––––
Israel10.67.08.61.3–1.48.07.2–8.18.35.82.52.01.06.77.2–
Japan–1.6–0.6–3.5–2.6–1.0–1.3––––1.3–0.3–2.2–1.6–1.3–0.9–––
Kenya–––––––––3.17.0–6.52.62.64.28.07.4
New Zealand2.6–2.12.42.4––––0.6––0.40.60.92.12.52.4–
Philippines–5.310.25.7––––––––––––––
Saudi Arabia0.92.00.51.52.21.60.90.90.9–––––––––
Singapore–2.3–1.40.91.7––––8.92.7 –14.2–8.2––––
South Africa6.04.04.1––––––5.76.27.211.86.54.26.64.0–
Sri Lanka15.99.69.44.712.69.59.1––4.44.84.22.82.616.84.0––
Thailand–7.05.8–2.3––––0.87.95.9–14.67.3––––
UAE–4.38.3–-3.8–––––4.38.30.1–1.0–––
USA*2.12.94.52.32.61.62.2––2.43.85.94.43.83.21.63.5–
* 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