Brussels: 12th most expensive city in world to build in

The International Construction Costs 2017 report states that Brussels is the 12th most expensive city in the world, in terms of construction. This was relayed by the consulting firm Arcadis. This year Brussels has gone from 13th place to 12th place.

Rik Menten from Arcadis explained “Brussels is a complex city with a multitude of regulations and increasing risks. All of this impacts upon construction costs.”

He says, “Regulation is becoming ever more complex, increasing the costs linked to consents and permissions or energy studies. Indeed, from 2018, buildings will be almost neutral in energy terms. This is a positive aspect for the environment but will not allow for an overall reduction in construction costs.”

 

Rik Menten further explains, “Furthermore, whoever wishes to build in Brussels must come armed to the teeth. The administrative and procedural complexity creates a significant uncertainty factor in given cases. For years now, we have had concerns over legal certainty, an issue which has been highly illustrated by several high profile media cases.”

He emphasises, “Brussels risks becoming a so-called ‘house which drives people mad’ where building projects get bogged down in endless processes. General contractors and other providers do not escape the added higher prices to compensate for this risk.”

New York is top in the world for the most expensive cities in terms of construction, followed by Hong Kong and Geneva. The British capital London is in fourth place. It has dropped two places owing to the devaluation of sterling, following the referendum on Brexit which has led to the fall in prices.

The International Construction Costs report offers survey on construction costs in the 44 main cities in the world in terms of property and infrastructure. The classification rests upon an data analysis for the costs of thirteen types of building. The costs include implementation, building materials and other services such as design and engineering.

Source: www.brusselstimes.com

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