A report reveals the most expensive cities to build apartments in Europe
A recent report on the cost of building apartments in ten European cities reveals significant differences in prices per square meter. The report, produced in Ireland and collected by Euronews, highlights both the most expensive and the cheapest cities for construction.
The most expensive cities for the construction of apartments
According to the report, the cities with the highest construction prices are Zurich, Dublin, Manchester, Stockholm and Glasgow. Zurich leads the list with a cost of 2,866 euros per square meter, closely followed by Dublin with a price of 2,363 euros per square meter. Manchester, Stockholm and Glasgow are also notable cities for their high construction costs.
The most economical cities for the construction of apartments
On the other hand, the cities with the lowest construction prices include Tallinn, Birmingham, Amsterdam, Brussels and Belfast. Tallinn is the cheapest city with a cost of 1,367 euros per square meter. Birmingham, Amsterdam, Brussels and Belfast also offer more affordable costs for apartment building.
Factors that influence construction costs
The report also highlights that construction costs fall into two main categories: hard costs and soft costs. Hard costs include the price of materials needed for construction, while soft costs include professional fees and taxes associated with the project.
Another factor highlighted in the report is architectural design, particularly in Ireland, where designs contribute significantly to high construction costs. The report suggests that a more flexible approach to planning and design could help reduce these costs, as can be seen in the case of Dublin.
The context of apartment building in Dublin
Dublin is one of the cities with the highest construction prices, with a cost of 2,363 euros per square meter. In addition to the high costs, the city also faces a serious housing crisis, with an increase in the homeless population. This context underlines the urgency of finding effective solutions to reduce construction costs and address the housing shortage (https://correccioencatala.cat/com-estructura-text-catala/).
Variation in labor costs
Another factor influencing construction costs is the cost of labour, which varies significantly between European cities. For example, Estonia has one of the lowest labor costs at 16.50 euros per hour, while cities such as Zurich, Vienna, Berlin and Geneva stand out as having the highest labor costs in Europe (https://correccioencatala.cat/com -structure-text-Catalan/).
Time context of the report
It is important to note that the report refers to the first quarter of 2020, before the impact of the pandemic and the energy price crisis in Europe. These events have significantly altered construction costs in recent years, and current prices are likely to differ from those reported.
