Cost of Building Property in South Africa – 2024 AECOM 34th Edition

Economic Residential Development in New Modder Benoni Gauteng – 2 and 3 Bedroom Units from 45m2 to 75m2 GFA -Price range R644,450 to R1,006,104 – Developed by Epi Real Estate

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Cost of Building Property in South Africa – 2023/2024 AECOM 34^th Edition

The cost of building property and infrastructure in the period 2023 to 2024 in the South African construction market is shown below, for various projects which include houses, apartment blocks, duplexes, townhouses, community centres, office, retail, industrial, hotels, hospitals, schools and other types of buildings, ranging from low-cost to luxury. Building costs are given in costs per square metre and other units where applicable, in the Rand currency (ZAR). To find the approximate cost of your project, measure the total gross floor area of the built area and multiply by the rates below.

Building rates

Rates include the cost of appropriate building services,for example, air-conditioning, but exclude costs of site infrastructure development, parking, any future escalation, loss of interest, professional fees and value-added tax (VAT).

Office Buildings – Rate per m² (excl. VAT)

Low-rise office park development with standard specification R 10,000 – R 12,300
Low-rise prestigious office park development R 12,900 – R 19,200
High-rise tower block with standard specification R 14,500 – R 19,200
High-rise prestigious tower block R 19,200 – R 24,200

Office rates exclude parking and include appropriate tenant allowances

incorporating carpets, wallpaper, louvre drapes, partitions, lighting, air-

conditioning and electrical reticulation.

Parking – Rate per m² (excl. VAT)

Parking on grade, including integral landscaping R 700 – R 900
Structured parking R 4,900 – R 5,400
Parking in semi-basement R 5,400 – R 7,300
Parking in basement R 5,700 – R 10,000

Retail Buildings – Rate per m² (excl. VAT)

Local convenience centres

(Not exceeding 5,000m²) R 9,800 – R 12,900

Neighbourhood centres

(5,000 – 12,000m²) R 10,800 – R 14,200

Community centres

(12,000 – 25,000m²) R 11,800 – R 15,000

Minor regional centres

(25,000 – 50,000m²) R 12,500 – R 16,000

Regional centres

(50,000 – 100,000m²) R 13,200 – R 16,000

Super regional centres

(exceeding 100,000m²) R 14,500 – R 18,700

Industrial Buildings – Rate per m² (excl. VAT)

Industrial warehouses, including office and change facilities within structure area (architect/engineer designed):

Steel frame, steel cladding and roof sheeting (light-duty) R 5,100 – R 6,500
Steel frame, brickwork to ceiling, steel cladding above and roof sheeting (heavy-duty) R 5,700 – R 8,200
Administration offices, ablution and change room block R 9,200 – R 11,900
Cold storage facilities R 17,400 – R 24,700

Residential Buildings

Rate per site (excl. VAT)

Site services to low-cost housing stand (250-350m²) R 63,000 – R 100,000

Rate per m2 (excl. VAT)

RDP housing R 3,000 – R 3,200
Low-cost housing R 3,800 – R 6,500
Simple low-rise apartment block R 9,100 – R 12,700
Duplex townhouse – economic R 9,100 – R 13,000
Prestige apartment block R 17,800 – R 26,000

Residential Buildings – Rate per m² (excl. VAT)

Private dwelling houses:

Economic R 7,000
Standard R 8,700
Middle-class R 10,500
Luxury R 14,600
Exclusive R 23,000
Exceptional (‘super luxury’) R 34,000 – R 70,000

Out buildings

– Standard R 6,500

– Luxury R 9,200

External Works – Rate per no. (excl. VAT)

Carport (shaded)

– Single R 5,600

– Double R 11,300

Carport (covered)

– Single R 8,800

– Double R 17,200

Swimming pool

Not exceeding 50 kl – R 110,000

Exceeding 50 kl and not exceeding 100 kl – R 196,000

Tennis court

Standard – R 650,000

Floodlit – R 810,000

Student residential – Rate per m² (excl. VAT)

High rise tower block with standard specification R 14,100 – R 15,500

Student residential rates include allowances for furniture, fittings and equipment (FF&E).

Hotels – Rate per key (excl. VAT)

Budget R 788,000 – R 1,255,000
Mid-scale (3-star) R 1,255,000 – R 1,884,000
Upper-scale (4-star) R 1,884,000 – R 2,650,000
Luxury (5-star) R 2,650,000 – R 3,550,000

Hotel rates include allowances for furniture, fittings and equipment (FF&E).

Studios Rate per m² (excl. VAT)

Studios – dancing, art exhibitions, etc. R 17,500 – R 25,000

Conference centres – Rate per m² (excl. VAT)

Conference centre to international standards R 32,000 – R 40,000

Retirement centres – Rate per m² (excl. VAT)

Dwelling houses

Middle-class R 10,300

Luxury R 14,500

Apartment block

Middle-class R 10,600

Luxury R 16,400

Community centre

Middle-class R 13,900

Luxury R 20,300

Frail care R 16,500

Schools – Rate per m² (excl. VAT)

Primary school R 8,200 – R 9,500

Secondary school R 9,800 – R 10,500

Hospitals – Rate per m² (excl. VAT)

District hospital R 34,000

Hospital rates exclude allowances for furniture, fittings and equipment (FF&E).

Stadiums – Rate per seat (excl. VAT)

Stadium to PSL standards R 42,000 – R 65,000

Stadium to FIFA standards R 98,000 – R 129,000

Rate per pitch (excl. VAT)

Stadium pitch to FIFA standards R 28,000,000 – R 33,000,000

Prisons – Rate per inmate (excl. VAT)

1,000 inmate prison R 733,000 – R 779,000

500 inmate prison R 756,000 – R 872,000

High/maximum security prison R 1,165,000 – R 1,540,000

Infrastructure airport development costs

Rates exclude any future escalation, loss of interest, professional fees,VAT and ACSA direct costs.

Apron stands – Rate per m² (excl. VAT) (incl. associated infrastructure)

Code F Stand

(85m long x 80m wide = 6,800m²) R 6,900

Code E Stand

(80m long x 65m wide = 5,200m²) R 7,300

Code C Stand

(56m long x 40m wide = 2,240m²) R 9,300

Taxi lanes – Rate per m (excl. VAT) (incl. associated infrastructure)

Code F taxi lane (101m wide) R 231,000

Code E taxi lane (85m wide) R 194,000

Code C taxi lane (49m wide) R 115,000

Service roads – Rate per m (excl. VAT)

Service road (10m wide) R 23,000

Dual carriage service road (15m wide) R 29,000

Taxi ways – Rate per m (excl. VAT) (incl. associated infrastructure)

Code F taxi way (70m wide) R 172,000

Runways – Rate per m (excl. VAT) (incl. associated infrastructure)

Code F runway (3,885m long x 60m wide = 233,100m²) R 387,000

Parking – Rate per bay (excl. VAT) (excluding bulk earthworks)

Structured parking R 237,000

Basement parking R 355,000

Perimeter fencing/security gates – Rate per m (excl. VAT)

Perimeter walls with perimeter intrusion detection (PIDS) R 10,800

Terminal buildings – Rate per m² (excl. VAT)

Terminal buildings (excl. baggage and X-ray systems, air bridges, seating and aircraft docking systems) – R 38,000

Rate per unit (excl. VAT)

Telescopic air bridges R 14,260,000

Aircraft docking system R 2,053,000

Building Services

The following rates are for building services (mechanical and electrical), which are applicable to typical building types in the categories indicated. Rates are dependent on various factors related to the design of the building and the requirements of the system.

In particular, the design, and therefore the cost of air-conditioning, can vary significantly depending on the orientation, shading, extent and type of glazing, external wall and roof construction.

Electrical installation – Rate per m² (excl. VAT)

Offices

Standard installation – R 950 – R 1,400
Sophisticated installation – R 1,400 – R 1,750
UPS, substations, standby generators to office buildings R 650 – R 850
Residential R 850 – R 1,400
Shopping centres R 1,400 – R 1,800
Hotels R 1,500 – R2,000
Hospitals R 1,950 – R 2,850

Electronic installation – Rate per m² (excl. VAT)

Offices

Standard installation R 450 – R 650
Sophisticated installation R 650 – R 950
Residential R 400 – R 650
Shopping centres R 900 – R 1,200
Hotels R 850 – R 1,200
Hospitals R 900 – R 1,300

Electronic installation includes access control, CCTV, public address, fire detection, data installation, WiFi, CATV, PABX (Private Automatic Branch Exchange) and Building Management System (BMS).