19th May 2017
Despite a slump in the value of sterling since Britain’s vote to leave the EU, London remains the world’s fifth most expensive city for commercial and residential construction. According to a new study by professional services company Turner & Townsend, the average cost of construction in the UK capital is now at $3,214 per sq m – a figure set to rise a further 4.1% in 2017, the survey predicts. Of the 43 regions and cities examined in the annual report, only New York, San Francisco, Zurich and Hong Kong were found to be more expensive than London.
The Independent (15/05/2017)