1、Navigating UncertaintyINTERNATIONAL CONSTRUCTION COSTS 20252International Construction Costs 2025FOREWORDJuud Tempelman Global President,PlacesIn our latest edition of the Arcadis International Construction Costs(ICC)report,we saw plenty of evidence of recovery across global construction markets las

2、t year.Cities in Europe and North America continue to top the list as the most expensive places to build in.Many markets showed encouraging signs of stabilization,with inflationary pressures beginning to ease.But as 2025 unfolds,is there a risk that this recovery could lose momentum?Political and ec

3、onomic uncertainty has increased dramatically.In times like this,the easiest reaction for many clients is to wait and see.But development is essential to meet the needs of a growing population and a rapidly evolving economy.There is a risk that opportunities for well-timed and profitable development

4、 could be missed through delay.From the rebuilding of Los Angeles to the creation of new multifamily housing in cities like Toronto and Manchester,and the adaptation of existing buildings in New York and London to meet changing client expectations,a constant cycle of building is an essential part of

5、 the resilience and adaptability of the modern economy.Some markets,including the data center market,continue to boom.However,for many sectors,the mood is more hesitant.High financing costs,ongoing economic uncertainty and the lingering effects of the pandemic on how space is used have created a cha

6、llenging environment for development.Rising tariffs and other trade barriers risk compounding these issues,further slowing growth.The consequences are far-reachingfrom a deepening housing crisis to growing gaps in healthcare,education and commerce as owners struggle to adapt their existing buildings