1、making the differenceInternational construction market surveyICMS2024Key highlights55markets are warm or hot32markets are set to warm up20markets are expecting lower construction cost inflation2|International construction market survey 2024Contents01|Introduction02|Global economic outlook03|Global c
2、onstruction cost performance 04|Regional insights and data05|Methodology06|ContactIntroduction01 Global economic outlook2 An election year2 Global forecasts4 Inflation rates6 Hurdles remain for price deflation7 New growth catalysts02 Global construction cost performance 8 International ranking10 Pre
3、liminaries and margins11 Cost inflation 13 Input costs18 Tendering03 Contact06 Methodology05 Regional insights and data20 Africa26 Asia33 Australia and New Zealand39 Europe48 Middle East 52 North America60 South America66 UK04 1|International construction market survey 202401|IntroductionOur team of
4、 global economists collaborated with our local specialists to evaluate input costs such as labor,materials,and plant and outlined the average construction costs per square meter for multiple asset classes across several sectors in key markets.Cost data was collated in Q1 2024 measuring the performan
5、ce of projects and programs 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 Sa
6、pporo.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