HOUSTON – The Bayou City is the tenth most expensive city in the world to build commercial and residential projects, according to Turner & Townsend’s 2017 international construction market survey.
The average construction cost in Houston is $233 per sf, according to the survey.
The city is listed among two dozen international metros with a shortage of skilled construction laborers, which is driving labor costs up.
North America has the highest hourly wage for construction workers at $72.5 per hour while the average internationally is about $28 per hour.
Here are the top ten most expensive cities to build a construction project, according to Turner & Townsend:
See Turner & Townsend International construction market survey 2017.
Check out Houston Market Overview Research.
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