RLB 2023年第四季度香港建筑成本更新

OFFICESAROUNDTHEWORLDAFRICASouth AsiaEUROPEAngolaBacolodBoholUnited KingdomLuandaCagayan de OroBelfastBotswanaCebuBirminghamGaboroneClarkBristolKenyaDavaoNairobiHo Chi Minh CityCardiffIloiloLeedsMauritiusJakartaLiverpoolQuatre BornesKuala LumpurLondonMozambiqueLagunaManchesterMaputoMetro ManilaSheffieldNamibiaPhnom PenhThames ValleySingaporeWarringtonWindhoekYangonEuro AllianceNigeriaMaldivesAustriaLagosHulhumaleBelgiumSeychellesIndia AllianceBulgariaVictoriaBangaloreCroatiaSouth AfricaCzech RepublicDenmarkDurbanAMERICASFrancePretoriaCaribbeanGermanyStellenboschSt. LuciaGreeceHungaryNorth AmericaIrelandASIABostonItalyNorth AsiaCalgaryLuxembourgBeijingChicagoMontenegroChengduDenverNetherlandlsChongqingHiloNorwayGuangzhouHonoluluPolandGuiyangLas VegasPortugalHaikouLos AngelesRomanianouz6ueHMauiSerbiaHong KongNew YorkSpainnesewPhoenixSwedenNanjingPortlandTurkeyNanningSan FranciscoSeoulSan JoseSeattleMIDDLEEASTShanghaiTorontoQatarShenyangWaikoloaTucsonDohaWuhanWashington DCSaudil ArablaWuxiRiyadhXianAmerica AllianceleunuzMexico CityUnited Arab EmiratesAbu Dhabileqno2HONG KONG REPORT I Quarterly Construction Cost Update - December 2023 OCEANIAAustraliaBrisbaneAclelaicleCairnsCanberraCoffs HarbourDarwinMelbourneNewcastlePerthSunshine CoastSydneyTownsvilleNew ZealandAucklandChristchurchDunedinHamiltonPalmerston NorthTaurangaQueenstownWellington COSTCOMMENTARYHONGKONGIn the third quarter of 2023, Hong Kong's economy gained momentum, propelled by the revival of inboundtourism and upswing in private consumption under Government's various support initiatives. Notably, theconstruction industry experiencecl substantial growth, with a 12.5% increase in expenditure on building andconstruction. The private sector also witnessed a significant year-on-year rise of 19.o% compared to theprevious year, considering the low baseline for comparison.In the 2023 Policy Address and Long-Term Housing Strategy Report, the Government has announced itscommitment to addressing housing needs by iclentifying land for approximately 41O,OOO pulblic housing unitsover the next ten years and 8O.OoO private housing units in coming five years. Meanwhile, the Governmenthas devised plans to streamline and expedite statutory and administrative procedures, as well as the approvalof building plans for expediting land production. Apart from new land prodluction, the Government has alsomade plans to utilize existing land, including Hung Hom stations, ex-Lamma Quarry site and "Green Belt"areas to maximize the development potential and optimize land usage. With Government's policy support, itis expected that the tender porice inclex will experience a moclerate rise in the forthcoming quarters.TENDERPRICEMOVEMENT2,615Q3 2023 TPIECONOMICOVERVIEWGross DomesticComposite ConsumerProductPrice Index4.1%^2.0%Q3 2023 Y-o-Y in real terms Q3 2023 Y-o-Y in real termsCONSTRUCTIONINDUSTRY1,600,000General Building and Superstructure Works() gic.1,200,000800,000400,0000202104G1Consent to commenceHONG KONG REPORT I Quarterly Constructicn Cost Update - December 2023 3.98%0.97%Y-o-YQ-0-Q进UnemploymentUnderemploymentRateRate2.8%1.0%Jul 2023 Sep 2023Jul 2023 Sep 2023Q22022Q3Q4Q12023Q2Souroe: Buildings Department3 COSTCOMMENTARYHONGKONGCONSTRUCTIONINDUSTRYConsent to CommenceSuperstructure49%Y-o-YIn terms of GFAConsent to CommenceFoundation Works76%Y-o-YIn terms of no.MACAUMacau's economy has experienced remarkable growth, thanks to several positive factors, including thethriving tourism and gaming sectors. One key driver of this growth has been the surge in visitor numbers,which soared by 356.6% year-on-year to 19.9 million cluring the first three quarters of 2O23. This surge invisitors has not only contributed to the roloust tourism sector but also had a positive spillover effect on othersectors of the economy. The gaming industry. in particular, has played a pivotal role in Macau's economicexpansion. The gross revenue from games of fortune witnessed a growth of 3O5.3% year-on-year, reachingMOP129.0 billion in the first three quarters of 2023. Meanwhile, the construction sector has experiencedsubstantial growth, driven by both public and private investments. Public construction investment increasedby 26.8% in the third quarter of 2023, attributed to the ongoing construction of large infrastructure projectsand public housing initiatives. Simultaneously. private construction investment also surged by a significant61.5% year-on-year, driven by increased investments from gaming enterprises and other private entitiestaking advantage of the revived economic environment. With continued investments in both private andthat tencler prices will gradually rise in the coming guartersECONOMICOVERVIEWGross Domestic Product116.1%Q3 2023Y-o-Y in real termsDisclaimer:desiring to utilize any informotion appearing in the publication should verify its applicability to their specific circumstances. Cost informotion inWhile the infornation in this publication is bolieved to be correct at the time