# Hangzhou Class A Office Market

> Hangzhou Class A office rents around ¥220/sqm/mo · ≈ $34.1 PSF/yr USD, with 18.4% vacancy and 6 months of typical rent-free on a 5-year term.

**Canonical URL:** https://classa.info/cities/hangzhou
**Page type:** city
**Last updated:** 2026-04-15T00:00:00.000Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Alibaba Group anchors China's deepest e-commerce HQ cluster.
- NetEase, Hikvision, Geely (Volvo, Lotus parent) HQs anchor structural demand.
- Future Sci-Tech City is the principal post-2018 trophy frontier.
- Class A vacancy near 18% reflects post-2022 tech sector cooling.

## Key facts
- **city**: Hangzhou
- **country**: China
- **region**: APAC
- **classARentLocal**: ¥220/sqm/mo · ≈ $34.1 PSF/yr USD
- **classARentUsd**: $34.09173255046963/sqft/yr
- **vacancyPct**: 18.4%
- **typicalLeaseYears**: 5
- **typicalRentFreeMonths**: 6
- **submarkets**: 5
- **corporateTaxPct**: 25%
- **talentIndex**: 84

## FAQ
### What is the impact of Alibaba on the market?
Material and structural. Alibaba Group anchors the Future Sci-Tech City (Xixi) cluster and underwrites a deep ecosystem of suppliers, ant-financial subsidiaries, and post-IPO startup HQs.

### How does Hangzhou compare to Shanghai or Shenzhen?
Hangzhou offers material discount to Shanghai (~30-40%) and Shenzhen (~25-35%). E-commerce and fintech depth is comparable; broader financial services depth is shallower.

### What is the role of Future Sci-Tech City?
Future Sci-Tech City (anchored by Alibaba Xixi Park) is Hangzhou's principal post-2010 tech and innovation district. NetEase, Alibaba, and a deep AI/fintech cluster define the trophy tier.

---
Citation: Source: Class A Atlas (https://classa.info/cities/hangzhou), updated 2026-04-15T00:00:00.000Z.