31/01/2024
Here are the updated estimated cost of construction for 2024. Costs may vary based on project details, size and location. Cost stated herewith are not supposed to be the final basis of the entire project’s cost, but they should be good to have a rough estimate and for budget preparation. Final costs should still be consulted with your designer or builder. Value engineering could also further lower costs.
Bare finish: from 20k to 23k
Standard Finish: from 30k to 32k
Luxury finishes: 40k to 44k
Iconic finish: 65k remains the same
E.g. A luxury finished home of 300 sqm could have a budget of 13.2Mn = 300 sqm x 44k/sqm
Prices exclude design fees, furniture and equipment.
References: Construction Materials Growth rates and In-house project surveys
