VIETNAM Quarterly Construction Cost Review 2013
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Global Construction Consultants
APPROXIMATE BUILDING COST IN VIETNAM Q4/2013 __________________________________________________________ US$ PSM, CONSTRUCTION FLOOR AREA RESIDENTIAL
Q1 12
Q2 12
Q3 12
Q4 12
Q1 13
Q2 13
Q3 13
Q4 13
Detached Houses and Bungalows
540
525
520
520
514
509
503
455 – 555
Average Standard Apartment, High rise
684
665
660
660
653
646
640
580 – 700
Luxury Apartments, High rise
862
835
835
835
826
818
809
745 – 875
Terraced Houses
446
435
430
430
425
420
416
385 – 445
Specification 1. Average Standard Apartments to be 30-50 storey 60-90 m2 per flat. 2. Average Luxury Apartment to be 30-50 storey 100-150 m2 per flat. 3. Apartments & Houses include air conditioning, kitchen cabinets, kitchen cook top, exhausted hood but exclude loose furniture & home appliances. OFFICE /COMMERCIAL
Q1 12
Q2 12
Q3 12
Q4 12
Q1 13
Q2 13
Q3 13
Q4 13
Prestige Offices, High Rise
950
950
950
940
940
931
921
800 – 1,050
Average Standard Office, High Rise
780
775
775
766
766
758
750
690 – 810
Shopping Centers
720
710
710
702
702
694
688
650 – 850
Q3 13
Q4 13
Specification 1. Offices based on buildings 20-30 storeys high with floor plans minimum 1,000m2 per level. 2. Shopping centres and average standard offices exclude finishes, A/C ducting and light fittings to tenant areas, standard façade. 3. Prestige offices are fitted with raised floor, suspended ceiling, A/C ducting and light fittings to tenant areas, standard façade. INDUSTRIAL
Q1 12
Q2 12
Q3 12
Q4 12
Q1 13
Q2 13
Light Duty Flatted Factories
307
300
300
300
297
295
292
220 – 360
Heavy Duty Flatted Factories & Warehouses
444
430
430
430
425
421
416
360 – 470
Single Storey Conventional Factories
438
425
425
425
420
416
411
350 – 460
Owner Operated Factories, Low Rise
436
425
425
425
420
416
411
350 – 460
Specification 1. Flatted factories and industrial –office buildings exclude manufacturing equipment, special services provisions, air-conditioning and electrical distribution system to tenant areas. HOTEL
Q1 12
Q2 12
Q3 12
Q4 12
Q1 13
Q2 13
Q3 13
Q4 13
Resort Hotel
1,320
1280
1,275
1,275
1,261
1,248
1,235
1,000 – 1,300
03 Star Budget Hotel inclusive of F.F.&E
1,530
1485
1,480
1,480
1,464
1,449
1,434
1,300 – 1,500
05 Star Budget Hotel inclusive of F.F.&E
1,904
1845
1,845
1,845
1,825
1,807
1,789
1,650 – 1,900
Specification 1. F. F & E includes interior decoration and loose furniture etc. but excludes hotel operated equipment costs (e.g. cutlery, crockery, linen, uniform, etc.) OTHER
Q1 12
Q2 12
Q3 12
Q4 12
Q1 13
Q2 13
Q3 13
Q4 13
Basement Car Parks (< 3 levels)
671
650
650
650
643
637
630
580 – 680
Elevated Car Parks (< 4 levels)
390
390
375
375
371
367
363
330 – 395
Primary and Secondary schools
478
465
460
460
454
450
444
435 – 460
Student Hostels
554
540
535
535
530
525
518
455 – 580
Sport Club inclusive of F.F.&E
782
760
755
755
747
740
732
695 – 775
Specification 1. Underground car park cost including temporary steel works and bottom-up Note 1. The costs for the respective categories given above are averages based on fixed price competitive tenders. It must be understood that the actual cost of a building will depend upon the design and many other factors and may vary from the figure shown. 2. The costs per square metre are based on Constructions Floor Areas measured to the outside face of the external walls/external perimeter including lift shafts, stairwells, balconies, plant rooms, water tanks and the like. 3. All buildings are assumed to be built on flat ground, with normal soil and site condition. The cost excludes site formation works, external works, land cost, professional fees, finance and legal expenses. 4. The standard for each category of building vary from country to country and do not necessarily follow those of Vietnam.
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