2025年第一季度香港建筑成本报告
OFFICESAROUNDTHEWORLDAFRICASouth AsiaEUROPEAngolaBacolodBoholUnited KingdomLuandaCagayan de OroBelfastBotswananqaoBirminghamGaboroneClarkBristolKenyaDavaoCardiffCambridgeNairobiHo Chi Minh CityIloiloEdinburghMauritiusJakartaLeedsQuatre BornesKuala LumpurLiverpoolMozambiqueLagunaLondonMaputoMetro ManilaManchesterNamibiaPhnom PenhNewcastle upon TyneSingaporeSheffieldWindhoekYangonThames ValleyNigeriaMaldivesWarringtonLagosHulhumaleEuro AllianceSeychellesIndia AllianceBelgiumVictoriaBulgariaBangaloreSouth AfricaCroatiaCape TownCzech RepublicDurbanAMERICASPretoriaCaribbeanFranceGermanyStellenboschSt. LuciaHungaryNorth AmericaIrelandASIAAustinItalyNorth AsiaBostonLuxembourgBeijingCalgaryMontenegroChengduChicagoDallasNetherlandlsGuangzhouNorwayGuiyangDenverPolandHaikouHiloPortugalnozfueHHonoluluRomaniaHong KongLas VegasSerbiaMacauLos AngelesSpainNanjingMauiSwedenNanningMiamiNashvilleMIDDLEEASTSeoulShanghaiNew YorkPhoenixQatarShenyangPortlandDohaShenzhen[xnMSan FranciscoSaudi ArabiaXianSan JoseRiyadhleunuzSeattleTorontoJeddahTucsonUnited Arab EmiratesWaimeaAbu DhabiWashington DCleqndAmerica AllianceMexico CityColombia2HONG KONG REPORT I Quarterly Construction Cost Update - March 2025 OCEANIAAustraliaAdelaiceBrisbaneCairnsCanberraCoffs HarbourDarwinGold CoastMelbourneNewcastlePerthSunshine CoastSydneyTownsvilleNew ZealandAucklandChristchurchDunedinHamiltonPalmerston NorthQueenstownTaurangaWellington COSTCOMMENTARYHONGKONGIn the fourth quarter of 2024, Hong_ Kong's economy stabilized amid subdued global demand, supported by a reboundin tourism and targeted initiatives. The_construction sector exhibited a bifurcated performance, with total building andea--ea %6 g paeo anpadxa joasaed ea-o-jea %'g [ap nipdx onsoreflecting developers' caution in light of elevated borrowing costs and subdued resicential sales. Meanwhile, public-sectorinvestrmnent declined 3.O% year-on-year, underscoring sector-wide challenges despite strategic fiscal backingThe 2025-26 Budget, unveiled in early 2025, reaffirmed the government's commitment to infrastructure and housingaccelerated pace. Key initiatives include the Northern Metropolis development, which integrates the Hetao Shenzhen-development. The construction sector is set to gain confidence as strategic infrastructure projects move forward at anandl technology (I&T) industry. as well as the expansion of cross-border transport networks across the Greater Bay, Area.Hong Kong Science and Technology Innovation Cooperation Zone with the San Tin Technopole to boost the innovationThe 2O25/26 Land Sale Programme inclucles eight residential sites, with no commercial sites planned for sale. To enhancethe next five_ years, the total public housing supply is projected to reach 190,00O units, aligning with long-term housingtargets. Additionally, the government, in partnership with the Construction Inclustry Council, will allocate funding forspecialized training programs to address labour shortages through upskilling initiatives.The public sector is anticipated to renmain the primary engine of near-termn construction industry growth, supported byprivate-sector activity, tender prices are forecast to experience modest fluctuations within a narrow range in the coningquarters, reflecting the government's strategic prioritization of public housing and transformative infrastructure irvestmentsTENDERPRICEMOVEMENT2,690Q4 2024 TPIECONOMICOVERVIEWGross DomesticComposite ConsumerProductPrice Index2.4%1.4%Q4 2024Y-o-Y in real terms Q4 2024Y-o-Y in real termsCONSTRUCTIONINDUSTRY1,600.000General Building and Superstructure Works(,u) euue.1,200.000800.000400,0000QIQ22023Consent to commenceHONG KONG REPORT I Quarterly Construction Cost Update - March 2025 1.89%0.37%Y-o-YQ-0-QUnemploymentRateUnderemploymentRate3.1%1.1%Oct 2024 - Dec 2024Oct 2024 Dec 20240Q410Q22024Q3Q4Notification to commenceSouroe: Buildings Department3 COSTCOMMENTARYHONGKONGCONSTRUCTIONINDUSTRYConsentto CommenceSuperstructure57%12%Y-o-YIn terms of GFAConsent to CommenceFoundation Works52%V39%Y-o-YIn terms of no.MACAUMacau's economy exhibited steady recovery in the fourth quarter of 2024, bolstered by sustained growth intourism and gaming service exports. Overall economic output rose to 86.4% of pre-pandemic 2O19 levels.Private construction investment grew significantly during the quarter, rising 4.5% year-on-year, driven byincreased expencitures from gaming enterprises. This increase was primarily attributable to the expansionand renovation of integratec resorts to accommoclate anticipated tourism demand. In contrast. publicconstruction investment experiencecl a notable contraction, declining 14.4% year-on-year. This reductiongovernment-fundec construction activity. While the government continues to prioritize public investments,inclucling key initiatives such as the Macau New Urban Zone, Light Rapid Transit, and Sewage Treatment PlantEnhancement Project, the slowdown in new projects has tempered growth in this sector of the inclustryDespite
