Japan has the highest construction costs in Asia, while construction in China costs are less than half of those in Hong Kong, according to a survey conducted by the Royal Institution of Chartered Surveyors (RICS).

China's booming construction industry is fifth most expensive in the East Asian region. Costs in Singapore have risen over the past year, with factors such as the cost of raw materials such as cement bringing it to second place in the table. Overall, costs in Asia still remain low compared to Western countries such as the UK.

Country Average index of building costs/sqm*
UK 178
Japan 139
Singapore 107
Hong Kong 100
India 45
China 44
Malaysia 31

*As a percentage of Hong Kong's cost/sqm

The survey analyses construction costs across China, Hong Kong, India, Japan, Malaysia, Singapore, Macau, Sri Lanka and Thailand. It also identified a number of concerns, including the impact of regulations, material costs and labour shortages.

For Hong Kong, the survey found that while the commercial and private residential sectors remained buoyant, public sector and infrastructural projects remain down.

Andrew Thompson, International Development Director, BCIS said, "The construction boom in neighboring Macao and China generally means that Hong Kong could face increased skills shortages if key workers migrate to take on roles in these regions." RFP