Rachel Personius, Currie & Brown

Construction activity is beginning to steady in many parts of the world, with costs not rising as fast as in recent years.

The key trends of 2024 will persist into 2025: Material price stabilization, labor shortages, growth in digital infrastructure and renewable energy construction, with 2-6% average cost escalations.

The coming year presents a complex landscape for the construction industry. Cost, risk and growth will be impacted by geopolitical turmoil, inflation and increased regulatory complexity.

While each global region has its own set of challenges, a moderate escalation of construction costs is a certainty for many regions across the world.

Over the past year, consultant Currie & Brown’s global construction cost experts have reported consistent market trends and headwinds. Common experiences in all regions were post-pandemic recovery and historic hikes in materials prices.