The latest International Construction Costs report by the global design and consultancy firm shows London falling a couple of places from last year’s second to fourth in 2017.
Edel Christie, head of program management at Arcadis said: “High density cities like New York and Hong Kong are particularly high cost locations to build due to constraints with land availability, accessibility and land values.
“Despite this they continue to prosper and see significant development activity thanks to their attractiveness as desirable global cities for commerce and people.
“The cost of building critical infrastructure and new buildings over the course of a long build phase is notoriously difficult to predict, making the challenge of providing as much cost and commercial certainty as possible a vital one.”
According to Arcadis, the top 10 most expensive cities to build in are: 1 New York 2 Hong Kong 3 Geneva 4 London 5 Macau 6 Copenhagen 7 Stockholm 8 Frankfurt 9 Paris