International costings

Article Abstract:

An average building costs inflation rate of 5.8% was seen in 20 countries in 1999, from 5.4% in 1998. The average inflation rate in western Europe is 3.9%, while the US average is 4%. Double-digit inflation rates are being recorded in a number of eastern European and African countries. The average building VAT for Europe is 20%, but it varies significantly from country to country. In western Europe, construction costs are generally stable following a period of economic recession. Prices are rising in northern Europe, particularly for mechanical and electrical equipment.

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International costings

Article Abstract:

Average tender price inflation in four eastern European countries fell to 13.1% in 1997, from 15.5% in 1996, according to international construction costings from cost consultant Gardiner and Theobald. Construction costs in seven western European countries rose to 3.1% in 1997, from 2.6% in 1996. The average rise in building costs in New Zealand and Australia in 1997 was 2.2%, from 1.7% in 1996. The most rapidly expanding construction market in eastern Europe is Poland. Oil price rises have boosted local confidence in the Middle East.

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European costings

Article Abstract:

Most European countries have seen a decline in construction activity recently, with construction output continuing to expand only in the Czech Republic, Poland, Slovakia and Hungary. There are particular problems in Germany, where building tender price inflation fell to 0.8% in 1996 and is forecast to remain at this level in 1997. Investment opportunities for UK companies, especially in the former eastern bloc, have improved with the strengthening of sterling against many European currencies.

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