Building owners and workers have been building in the city for decades, but demand for new skyscrapings is rising.
The industry is expected to grow to more than $8 billion in 2020, according to the Boston Consulting Group, the largest global firm tracking the sector.
But the demand is changing as a result of new technologies that offer more economical ways to build.
The company’s research forecasts that demand for office space will increase to $5.5 billion in 2021 and $8.5 in 2022 from $4.7 billion in the previous year.
The number of offices could more than double to 6.7 million by 2022 from 5.7 in 2021.
The firm projects demand for condos to jump to more like 2.6 million by 2021 from 2.3 million last year.
More than a quarter of new housing will be condos.
And the number of office workers is expected increase to 5.2 million from 4.9 million last November.
The boom in office space is driven in part by demand from firms that want to take advantage of the technology and cheaper construction materials.
Building companies are looking for ways to make their buildings more energy efficient, more water efficient and less expensive to build with.
Some have been moving to carbon-neutral building materials.
Some are looking at solar panels and wind turbines as energy sources to generate electricity, and some are looking to use other technologies to build buildings more efficiently.
One of the most ambitious new buildings is the new office tower at the new Harvard University.
It will cost about $2 billion to build, which is more than the $2.5 million price tag of a similar building that opened a few years ago at the University of Massachusetts.
The building is set to open next year.
It includes more than a dozen floors, each of which is expected be about 60 feet high.
The Harvard building is part of a new wave of new office building construction in Boston that is also attracting more investors.
More than 20% of the city’s buildings are expected to be at least 30 feet tall, the firm estimates, up from just 5% in the decade before the housing boom.
That trend is expected continue, as developers are expanding to more cities and suburbs.
The new buildings will be in the core of the university’s urban core.
The new buildings also have a larger market for office tenants.
Boston’s housing market has been improving in recent years, but it still lags behind its peers.
“I think it’s the right time to be building in Boston,” said Scott R. Burt, managing director of Burt & Johnson, a New York-based real estate consulting firm that specializes in office building.
“There is more and more demand and there is a demand for space in Boston and for office buildings.”
The demand is driven by the fact that the city is growing.
The population grew by more than 8 million people in 2020 from the previous five years, and more than half of that growth was for the working-age population, according a report by Boston Consulting.
The city also has the highest percentage of residents in the workforce of any major U.S. city.