{"id":39781,"date":"2022-03-02T07:45:39","date_gmt":"2022-03-02T07:45:39","guid":{"rendered":"https:\/\/www.my-equipment.com\/blog\/?p=39781"},"modified":"2022-03-02T07:45:40","modified_gmt":"2022-03-02T07:45:40","slug":"cost-of-construction-reaching-new-heights","status":"publish","type":"post","link":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/","title":{"rendered":"Cost of Construction Reaching New Heights"},"content":{"rendered":"<blockquote>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#Major_US_Cities_Among_the_Most_Expensive_Places_to_Build\" >Major US Cities Among the Most Expensive Places to Build<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#International_Market_Survey\" >International Market Survey<\/a><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Major_US_Cities_Among_the_Most_Expensive_Places_to_Build\"><\/span><strong>Major US Cities Among the Most Expensive Places to Build<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Recently, the major cities of the United States seem to be topping the charts as the most expensive places to build. The soaring <strong>costs of construction in the US<\/strong> can be attributed to a few different factors. The rising cost of materials and pressure on labor paired with President Biden\u2019s drive to build back better after the pandemic have all had an impact on the construction market. <strong>According to the international construction market survey, the current market conditions will continue as they are, and inflation will continue well into 2023.<\/strong>&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The most expensive city to build in the US is San Francisco. The average cost of construction there is $3720 per square meter. According to global rankings of several international surveys, the city is the third most expensive in the world in which to build after <strong>Tokyo and Hong Kong<\/strong>. Following <strong>San Francisco is New York<\/strong> where the cost of construction is $3511 per square meter, and it is also ranked as the fourth most expensive place to build in the world. In the States, not far behind on the list of most expensive cities in which to build are <strong>Boston, Los Angeles, and Chicago<\/strong>, with the cost of construction being <strong>$3375, $3186<\/strong>, and $2935 per square meter, respectively.&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recent surveys reported inflation across all 11 markets in the United States, and it is expected that the rising costs will be sustained throughout <strong>2022 and 2023<\/strong>. Among Canadian cities, Toronto takes the lead with the cost of construction being $2167 per square meter. It is followed immediately by Vancouver where the cost of construction is $2117 per square meter. Ottawa takes third place in Canada with the cost of construction being $2076 per square meter.&nbsp;<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"International_Market_Survey\"><\/span><strong>International Market Survey<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The international market survey report includes all the details about the global construction market. You can peruse the report to find out about the major investment opportunities across the United States. You can also find details about the capacity challenges that labor and material markets are facing in the report.&nbsp;<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">Labor costs in major US cities remain among the highest in the world. The increase in cost of labor in US cities also impacts the market, and the cost of labor in Canada is almost half of these US cities. You will find an in-depth analysis of global construction costs and the factors that drive them in the international construction market survey report.<\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Major US Cities Among the Most Expensive Places to Build Recently, the major cities of &hellip; <a href=\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cost of Construction Reaching New Heights&#8221;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":39784,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[126],"tags":[262,263,264],"class_list":["post-39781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-construction-market-survey","tag-global-construction-market","tag-international-construction-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cost of Construction Reaching New Heights - Heavy Equipment Market Insights | News | Guides &amp; Beyond<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cost of Construction Reaching New Heights - Heavy Equipment Market Insights | News | Guides &amp; Beyond\" \/>\n<meta property=\"og:description\" content=\"Major US Cities Among the Most Expensive Places to Build Recently, the major cities of &hellip; Continue reading &quot;Cost of Construction Reaching New Heights&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/\" \/>\n<meta property=\"og:site_name\" content=\"Heavy Equipment Market Insights | News | Guides &amp; Beyond\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-02T07:45:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-03-02T07:45:40+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editorial Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editorial Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/\",\"url\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/\",\"name\":\"Cost of Construction Reaching New Heights - Heavy Equipment Market Insights | News | Guides &amp; Beyond\",\"isPartOf\":{\"@id\":\"https:\/\/www.my-equipment.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg\",\"datePublished\":\"2022-03-02T07:45:39+00:00\",\"dateModified\":\"2022-03-02T07:45:40+00:00\",\"author\":{\"@id\":\"https:\/\/www.my-equipment.com\/blog\/#\/schema\/person\/1837c9d45480628c7e671b048b58fdb8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#primaryimage\",\"url\":\"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg\",\"contentUrl\":\"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg\",\"width\":800,\"height\":500},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.my-equipment.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cost of Construction Reaching New Heights\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.my-equipment.com\/blog\/#website\",\"url\":\"https:\/\/www.my-equipment.com\/blog\/\",\"name\":\"Heavy Equipment Market Insights | News | Guides &amp; Beyond\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.my-equipment.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.my-equipment.com\/blog\/#\/schema\/person\/1837c9d45480628c7e671b048b58fdb8\",\"name\":\"Editorial Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.my-equipment.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cff72703e894a08ddbcb57cacc015d7aac82cf4bb24ea91ce88796066d1a97fa?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cff72703e894a08ddbcb57cacc015d7aac82cf4bb24ea91ce88796066d1a97fa?s=96&d=mm&r=g\",\"caption\":\"Editorial Team\"},\"url\":\"https:\/\/www.my-equipment.com\/blog\/author\/singapuri\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cost of Construction Reaching New Heights - Heavy Equipment Market Insights | News | Guides &amp; Beyond","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/","og_locale":"en_US","og_type":"article","og_title":"Cost of Construction Reaching New Heights - Heavy Equipment Market Insights | News | Guides &amp; Beyond","og_description":"Major US Cities Among the Most Expensive Places to Build Recently, the major cities of &hellip; Continue reading \"Cost of Construction Reaching New Heights\"","og_url":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/","og_site_name":"Heavy Equipment Market Insights | News | Guides &amp; Beyond","article_published_time":"2022-03-02T07:45:39+00:00","article_modified_time":"2022-03-02T07:45:40+00:00","og_image":[{"width":800,"height":500,"url":"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg","type":"image\/jpeg"}],"author":"Editorial Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Editorial Team","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/","url":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/","name":"Cost of Construction Reaching New Heights - Heavy Equipment Market Insights | News | Guides &amp; Beyond","isPartOf":{"@id":"https:\/\/www.my-equipment.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#primaryimage"},"image":{"@id":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#primaryimage"},"thumbnailUrl":"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg","datePublished":"2022-03-02T07:45:39+00:00","dateModified":"2022-03-02T07:45:40+00:00","author":{"@id":"https:\/\/www.my-equipment.com\/blog\/#\/schema\/person\/1837c9d45480628c7e671b048b58fdb8"},"breadcrumb":{"@id":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#primaryimage","url":"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg","contentUrl":"https:\/\/www.my-equipment.com\/blog\/wp-content\/uploads\/2022\/03\/Blog-Cover-46-2-1.jpg","width":800,"height":500},{"@type":"BreadcrumbList","@id":"https:\/\/www.my-equipment.com\/blog\/2022\/03\/cost-of-construction-reaching-new-heights\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.my-equipment.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Cost of Construction Reaching New Heights"}]},{"@type":"WebSite","@id":"https:\/\/www.my-equipment.com\/blog\/#website","url":"https:\/\/www.my-equipment.com\/blog\/","name":"Heavy Equipment Market Insights | News | Guides &amp; Beyond","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.my-equipment.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.my-equipment.com\/blog\/#\/schema\/person\/1837c9d45480628c7e671b048b58fdb8","name":"Editorial Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.my-equipment.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cff72703e894a08ddbcb57cacc015d7aac82cf4bb24ea91ce88796066d1a97fa?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cff72703e894a08ddbcb57cacc015d7aac82cf4bb24ea91ce88796066d1a97fa?s=96&d=mm&r=g","caption":"Editorial Team"},"url":"https:\/\/www.my-equipment.com\/blog\/author\/singapuri\/"}]}},"_links":{"self":[{"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/posts\/39781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/comments?post=39781"}],"version-history":[{"count":2,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/posts\/39781\/revisions"}],"predecessor-version":[{"id":39783,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/posts\/39781\/revisions\/39783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/media\/39784"}],"wp:attachment":[{"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/media?parent=39781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/categories?post=39781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.my-equipment.com\/blog\/wp-json\/wp\/v2\/tags?post=39781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}