01 | Introduction
Global construction gets back on stronger footing
Global Head of Real Estate, Neil Bullen, introduces our research. Our latest report sees the global construction market emerging from a period of significant economic challenge and slowly returning to strength as inflationary pressures ease, build costs stabilise and confidence rises.
⏱ 4 min read
Our International construction market survey brings together data, insights and experience across 91 global markets in 42 countries.
Now in its 15th year, it explores how the construction industry is performing, the challenges it faces and its future outlook.
Our team of global economists collaborated with our local specialists to evaluate input costs – such as labour, materials, and plant – and outlined the average construction costs per square metre for multiple asset classes across several sectors in key markets.
Cost data was collated in Q1 2024 measuring the performance of projects and programmes across the previous calendar year. This information provides context and a richer understanding of the balance of supply and demand and the cost pressures within each market.
Since our 2023 publication, we have added three new unique markets in Japan – Fukuoka, Hiroshima and Sapporo. We publish data for 91 markets in total – a list of those markets can be found here.
For simplicity, we have adopted straight-line USD conversion as our primary method of comparison for our cost data. For more information, refer to the methodology section. Detailed explanations of what is included in and excluded from our cost information are given here.
We hope that our report serves as a useful barometer of the general health of the global construction industry, as well as the performance of individual markets and collective regions.
