San Francisco has unseated New York City as the most expensive place on earth to build, with construction costs forecast to rise a further 6 percent in 2019 as tech sector expansion continues to drive construction demand, according to new research from global professional services company Turner & Townsend.
The average cost of construction in the city has reached $417 per square foot, as high demand from Silicon Valley’s tech giants for new-build commercial buildings makes the Bay Area the hottest construction market in the United States. Construction cost inflation in San Francisco ran at 5 percent in 2018.
The International Construction Market Survey 2019 finds that only three markets worldwide — San Francisco, Seattle and Amsterdam — are classed as “overheating”. In North American cities, the impac
