1、making the differenceInternational construction market surveyICMS2024Key highlights55markets are warm or hot32markets are set to warm up20markets are expecting lower construction cost inflation1|International construction market survey 202401|IntroductionOur team of global economists collaborated wi
2、th 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 performance of projects and programs across
3、 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 marke
4、ts 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 inform
5、ation 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.The global real estate market is emerging from a challenging period of inflationary pressures,vo
6、latility and disruption.The construction sector has proved resilient with steady activity overall.Neil Bullen,Global Head of Real EstateGlobal Head of Real Estate,Neil Bullen,introduces our research.Our latest report sees global construction emerging from a period of significant economic challenge a