Close
Saturday, June 21, 2025

This Year, Building Expenses In US May Climb By Another 14%

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back

Related stories

DAMAC Properties – Leading Luxury Real Estate Website in the Middle East

When it comes to investing in luxury real estate,...

Transforming Construction Planning with Geospatial Intelligence

If you've worked in construction, you've probably run into...

Which of These 5 Temporary Power Options Fits the Needs of Your Job Site?

Every job site needs dependable power to function safely...

8 Overlooked Tools That Save Time (And Your Back) on the Jobsite

Construction projects always take time, but they do not...

World Construction Today – According to real estate behemoth Coldwell Banker Richard Ellis-CBRE, construction expenses in the US are expected to rise by 14.1% by the end of 2022.

A number of factors, including a labour shortage, general inflation, supply-chain troubles, and lingering concerns about the COVID-19 outbreak as well as the crisis in Ukraine, have contributed to the surge, which had been predicted.

US construction costs would increase by the most since CBRE started monitoring cost estimates in 2007. According to Nicolas McNamara, Director, Cost Consultancy for CBRE, the construction business depends on predictability, but they continue to struggle this year with multiple problems and turbulence, making forecasting and controlling costs more difficult.

A substantial increase in expenses has been caused by labour shortages, wage pressure, and supply chain disruption. But the need for fresh projects is still great.

Globally, costs for construction are rising. Construction expenses more than doubled in Romania in February 2022, while the UK’s government reported that prices for all building work increased by 27.2% from May 2021 to May 2022 on an annual basis. Australia has had a 25% increase in building prices in the past five years, with a 10% increase in the last year alone, which is the quickest rate ever.

Latest stories

Related stories

DAMAC Properties – Leading Luxury Real Estate Website in the Middle East

When it comes to investing in luxury real estate,...

Transforming Construction Planning with Geospatial Intelligence

If you've worked in construction, you've probably run into...

Which of These 5 Temporary Power Options Fits the Needs of Your Job Site?

Every job site needs dependable power to function safely...

8 Overlooked Tools That Save Time (And Your Back) on the Jobsite

Construction projects always take time, but they do not...

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from any location or device.

Media Packs

Expand Your Reach With Our Customized Solutions Empowering Your Campaigns To Maximize Your Reach & Drive Real Results!

– Access the Media Pack Now

– Book a Conference Call

– Leave Message for Us to Get Back