# Shenzhen Class A office rents and incentives

> Headline Class A rent in Shenzhen is around ¥290/sqm/mo · ≈ $44.9 PSF/yr USD, with 10 months of typical rent-free on a 5-year term.

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

## TL;DR
- Headline Class A rent: ¥290/sqm/mo · ≈ $44.9 PSF/yr USD.
- Trophy submarket rents (Futian CBD) push to roughly ¥360/sqm/mo · ≈ $55.8 PSF/yr USD.
- Typical concessions on a 5-year deal: 10 months free rent.
- Vacancy stands at 24.8% — market trend is softening.
- Use effective rent (face minus PV of concessions), not headline, to compare deals.

## Key facts
- **city**: Shenzhen
- **country**: China
- **region**: APAC
- **classARentLocal**: ¥290/sqm/mo · ≈ $44.9 PSF/yr USD
- **classARentUsd**: $45/sqft/yr
- **vacancy**: 24.8%
- **typicalLeaseYears**: 5
- **typicalRentFreeMonths**: 10
- **submarkets**: 5
- **primeYieldPct**: 5.4%
- **trophyRent**: ¥360/sqm/mo · ≈ $55.8 PSF/yr USD
- **primeRent**: ¥220/sqm/mo · ≈ $34.1 PSF/yr USD

## FAQ
### What is the average Class A rent in Shenzhen?
Around ¥290/sqm/mo · ≈ $44.9 PSF/yr USD across the broader Class A index. Trophy submarkets like Futian CBD command 20–40% above that.

### How many months of rent-free are normal in Shenzhen?
10 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 Shenzhen?
The Shenzhen Class A market is currently softening. Vacancy is 24.8%, which sets the negotiating context.

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