Turner & Townsend produces its latest international construction market survey

The One World Trade Center in New York opened for business earlier this week. The $3.8bn (£2.4bn) building is built on the site of the twin towers of the previous World Trade Center, which were destroyed in the 9/11 attacks in 2001. The SOM designed 104-

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New York has narrowly topped London as the most expensive place to build, according to Turner & Townsend’s annual international construction market survey.

Turner & Townsend’s (T&T) 2015 survey puts New York’s average construction cost at £2,372 per m2, a mere £89 above London’s average construction cost of £2,283 per m2. Both cities have experienced a 5% rise in construction costs over the past 12 months.

Both cities are also expected to see cost inflation rise at the same