Building is also getting more expensive because from what I hear from friends who were buildiing - the further along they went, the higher the prices of materials. They tell me China has been buying all the materials causing the price and demand to rise. Developments which had budgeted at prices of a few years ago are now underbudgeted beyond contingency. I have no references for this because it's just hearsay - so take it for what it's worth. If you disagree, I'd be interested in knowing the other side.