What is the average Class A rent in Chengdu?

Around ¥150/sqm/mo · ≈ $23.2 PSF/yr USD across the broader Class A index. Trophy submarkets like Tianfu New Area command 20–40% above that.

How many months of rent-free are normal in Chengdu?

8 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Chengdu?

The Chengdu Class A market is currently softening. Vacancy is 22.6%, which sets the negotiating context.

Headline Class A rent in Chengdu is around ¥150/sqm/mo · ≈ $23.2 PSF/yr USD, with 8 months of typical rent-free on a 5-year term.

Headline Class A rent: ¥150/sqm/mo · ≈ $23.2 PSF/yr USD.
Trophy submarket rents (Tianfu New Area) push to roughly ¥165/sqm/mo · ≈ $25.6 PSF/yr USD.
Typical concessions on a 5-year deal: 8 months free rent.
Vacancy stands at 22.6% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Chengdu Class A office rents and incentives

Headline Class A rent in Chengdu is around ¥150/sqm/mo · ≈ $23.2 PSF/yr USD, with 8 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: ¥150/sqm/mo · ≈ $23.2 PSF/yr USD.
Trophy submarket rents (Tianfu New Area) push to roughly ¥165/sqm/mo · ≈ $25.6 PSF/yr USD.
Typical concessions on a 5-year deal: 8 months free rent.
Vacancy stands at 22.6% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Chengdu are quoted in CNY per sqft per year. Across the broad Class A index the figure is 150, but the trophy tier in Tianfu New Area reaches roughly ¥165/sqm/mo · ≈ $25.6 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Chengdu concessions on a 5-year Class A lease run to 8 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Chinese corporate tax of 25% (15% for high-tech enterprise certified firms). 13% VAT. Sichuan / Chengdu fiscal incentives for Tianfu New Area.

Where rents land by submarket

Tianfu New Area sits at the top end (~¥165/sqm/mo · ≈ $25.6 PSF/yr USD). Jinjiang / Renmin South Road clears around ¥130/sqm/mo · ≈ $20.1 PSF/yr USD as the prime tier. Wenjiang / Pi County represents the value end at ~¥110/sqm/mo · ≈ $17 PSF/yr USD. The full submarket map is on the Chengdu city page.

Key facts

city	Chengdu
country	China
region	APAC
classARentLocal	¥150/sqm/mo · ≈ $23.2 PSF/yr USD
classARentUsd	$23/sqft/yr
vacancy	22.6%
typicalLeaseYears	5
typicalRentFreeMonths	8
submarkets	5
primeYieldPct	5.6%
trophyRent	¥165/sqm/mo · ≈ $25.6 PSF/yr USD
primeRent	¥130/sqm/mo · ≈ $20.1 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Chengdu?: Around ¥150/sqm/mo · ≈ $23.2 PSF/yr USD across the broader Class A index. Trophy submarkets like Tianfu New Area command 20–40% above that.
How many months of rent-free are normal in Chengdu?: 8 months on a 5-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Chengdu?: The Chengdu Class A market is currently softening. Vacancy is 22.6%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

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