Building Costs Per Square Metre in China – Arcadis & National Bureau of Statistics

Building Costs Per Square Metre in China – Arcadis & National Bureau of Statistics

Spacious 4 Bedroom 3 Bathroom Villa located in the prestige Green Hills compound in Shanghai

Spacious 4 Bedroom 3 Bathroom Villa located in the prestige Green Hills compound in Shanghai

China is the world’s most populous nation with about 1.4 billion people, and thus to accommodate this high number of people in an efficient manner, apartments and subdivisions are a more prevalent type of residential dwelling than detached single-family homes which take up too much horizontal space. Vertical expansion and MDUs (multi-dwelling units) save a lot of acreage. Detached single-family homes are the preserve of high net worth individuals in China. This is the high class which can afford to buy private real estate. Despite being a populous country, China doesn’t have housing problems nor shortages. It has more than enough accommodation for its population. Actually, many apartments and housing complexes in the cities are empty. China is a mass housing success story with 9 out of 10 families in the country owning a house. Building standards and quality control are strictly enforced by the local authorities, and thus a large percentage of the population has access to decent housing.

The cost of building residential, commercial and industrial properties as well as hotels, schools, hospitals and multi-purpose sports centres is shown below. These particular costs were prepared by Arcadis International, a construction cost consulting firm with multiple projects around the world including China and Hong Kong. Square-metre costs have been collected in 4 major cities – Shanghai, Beijing, Shenzhen and Chengdu. Four types of residential properties (average-standard apartments, luxury apartments, average-standard terraced houses and luxury detached houses have been considered in this cost analysis. Across China, the cost of building a residential dwelling ranges from ¥2,710 to ¥13,929 per m2. This range includes all quality classes from bare shells to fully-fitted properties, as well as average standard to high-quality housing units. The cost of building average-standard apartments ranges from ¥2,710 to ¥5,548 per m2. The cost of building luxury apartments ranges from ¥2,850 to ¥12,388 per m2. The cost of building average-standard terraced houses ranges from ¥2,895 to ¥7,573 per m2. The cost of building high-quality detached houses ranges from ¥3,953 to ¥13,929 per m2.

Building Costs in China_2021 Acardis Square Metre Costs

Building Costs in China_2021 Acardis Square Metre Costs

Shanghai Building Costs Per Square Metre – Arcadis Q1-2021

Residential Buildings

Apartments, high rise, average standard

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