Most expensive place in the world to build

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Real Estate

SAN FRANCISCO (KGO) -- According to a new report, the Bay Area is the most expensive place in the world to build.

The UK-based consultant Turner and Townsend says the average construction cost in the Bay Area is $417 per square foot, surpassing New York's average of $368 per square foot.
 

The cost for commercial development, including apartments, went up by 5 percent in the Bay Area last year, meaning we're tied with Seattle for the "fastest growing market" in North America.

The report, International Construction Market Survey, pins the blame on a few factors, including high demand, labor shortages, steel tariffs and rapid economic growth.

https://abc7news.com/business/report-bay-area-is-most-expensive-place-in-the-world-to-build/5273231/