Hong Kong is one of the most expensive places in the world to construct buildings. At US$3,200 per sq m in construction costs, Hong Kong is only surpassed by New York (US$3,488) and London (US$3,357), according to a recent consultancy report.
     Construction costs for high-rise residential units in Hong Kong average US$3,090 per sq m - 28.5% below London's but 4.5% higher than in New York.
     For upmarket detached houses, the average construction cost is US$4,900 per sq m in Hong Kong, against US$4,410 in London and US$3,710 in New York.
     The city's building costs are expected to rise by up to 7.5% in 2015-2016 as construction volume is expected to increase 6.5% in real terms this year.