Geneva has again overtaken London as the most expensive city in the world in which to build, according to the latest Arcadis International Construction Costs (ICC) report. Zurich comes third, Munich fourth and New York City fifth. The report highlights continued pressure on construction costs across major urban centres in Europe and North America, reflecting high demand, labour constraints and complex regulatory environments. The annual Arcadis International Construction Costs index covers 100 of the world's large cities across six continents. The calculations are based in US dollars and indexed against the price range for each building type relative to Amsterdam.