--- title: "Seoul vs Shanghai: Class A office comparison" description: "Side-by-side Class A office comparison for Seoul and Shanghai — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/seoul-vs-shanghai pageType: comparison lastUpdated: 2026-04-15T00:00:00.000Z license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)." --- > Seoul ($34/sqft, 5.2% vacancy) and Shanghai ($40/sqft, 19.8% vacancy) compete on different axes: Seoul on talent depth and Shanghai on rent and tax. ## TL;DR - Class A rent: Seoul $34/sqft vs Shanghai $40/sqft. - Vacancy: Seoul 5.2% vs Shanghai 19.8%. - Talent index: Seoul 82 vs Shanghai 76. - Corporate tax: Seoul 24.2% vs Shanghai 25%. - Premium flex/seat/month: Seoul $880 vs Shanghai $740. # Seoul vs Shanghai: Class A office comparison **Seoul ($34/sqft, 5.2% vacancy) and Shanghai ($40/sqft, 19.8% vacancy) compete on different axes: Seoul on talent depth and Shanghai on rent and tax.** ## TL;DR - [Class A](/glossary/class-a) rent: Seoul $34/sqft vs Shanghai $40/sqft. - Vacancy: Seoul 5.2% vs Shanghai 19.8%. - Talent index: Seoul 82 vs Shanghai 76. - Corporate tax: Seoul 24.2% vs Shanghai 25%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Seoul $880 vs Shanghai $740. ## Market data side-by-side | Metric | Seoul | Shanghai| | Region | APAC | APAC| | Country | South Korea | China| | Class A rent (USD/sqft/yr) | $34 | $40| | Class A rent (local) | 142000 KRW | 260 CNY| | Vacancy | 5.2% | 19.8%| | Trend | rising | softening| | Prime yield | 4% | 4.4%| | Premium flex / seat / month (USD) | $880 | $740| | Submarkets covered | 6 | 5| | Corporate tax | 24.2% | 25%| ## Lease norms | Metric | Seoul | Shanghai| | Typical term | 5 yrs | 3 yrs| | Typical rent-free | 6 mos | 8 mos| | Lease norms | Standard 5-year lease (often 3+2). Rent + management fees billed separately. Large jeonse (lease deposit) common — 10-20x monthly rent. Reinstatement contractual. | Standard 3-year lease with renewal option. Rent gross of management fees but exclusive of utilities. Bank guarantee or rent deposit of 3-6 months standard. Reinstatement at lease-end is contractual.| | Tax note | Combined federal corporate tax 24.2% (after surtax). Local taxes apply. | Headline corporate tax 25% (15% for High and New Technology Enterprises). Free Trade Zone advantages exist.| ## Talent | Metric | Seoul | Shanghai| | Talent index (0–100) | 82 | 76| | Talent note | Deepest tech (Samsung, LG, Naver, Kakao) and finance talent pool in Korea. Average all-in compensation indexes 82. | Mainland China's deepest financial-services and tech talent pool. Average all-in compensation indexes 76.| ## Transit & commute **Seoul:** Seoul Metro covers every Class A address. KTX high-speed rail to Busan and other regional centres. Incheon Airport is 53 minutes by AREX express. **Shanghai:** Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. ## Top submarkets — Seoul - [**Gangnam (GBD)**](/cities/seoul/gangnam) — [trophy tier](/topics/trophy-asset-selection) · ₩145,000/pyeong/mo · ≈ $35.2 PSF/yr USD - [**Yeouido (YBD)**](/cities/seoul/yeouido) — trophy tier · ₩138,000/pyeong/mo · ≈ $33.5 PSF/yr USD - [**Jongno / Gwanghwamun (CBD)**](/cities/seoul/jongno-gwanghwamun) — trophy tier · ₩130,000/pyeong/mo · ≈ $31.6 PSF/yr USD ## Top submarkets — Shanghai - [**Lujiazui (Pudong)**](/cities/shanghai/lujiazui) — trophy tier · ¥280/sqm/mo · ≈ $43.4 PSF/yr USD - [**Hongqiao CBD**](/cities/shanghai/hongqiao) — prime tier · $38/sqft/yr - [**Jing'an**](/cities/shanghai/jing-an) — prime tier · ¥240/sqm/mo · ≈ $37.2 PSF/yr USD ## Decision criteria ### Pick by cost Seoul is the cheaper Class A market on a USD basis. ### Pick by talent depth Seoul has the deeper talent index (82/100 vs 76/100). ### Pick by tax Seoul has the lower headline corporate tax (24.2% vs 25%). Local incentives can change the effective rate materially. ### Pick by lease optionality Seoul typical term is 5 years with 6 months free; Shanghai runs 3 years with 8 months free. ### Pick by transit Seoul: Seoul Metro covers every Class A address. KTX high-speed rail to Busan and other regional centres. Incheon Airport is 53 minutes by AREX express. Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. ## Run a 4-city comparison Score Seoul, Shanghai and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD. [**Run a 4-city comparison →**](/tools/city-comparator) ## Frequently asked questions ****Is Class A office cheaper in Seoul or Shanghai?**** : Seoul is cheaper on a USD basis: $34/sqft vs $40/sqft. ****Which has better talent depth, Seoul or Shanghai?**** : Seoul indexes higher on talent depth (82 vs 76). ****Which has more sublease availability, Seoul or Shanghai?**** : Shanghai carries higher vacancy (19.8% vs 5.2%) and therefore typically more sublease overhang. ****What lease term should I expect in Seoul vs Shanghai?**** : Seoul typical term is 5 years with 6 months rent-free; Shanghai typical term is 3 years with 8 months rent-free. ****How does transit and commuter access compare?**** : Seoul: Seoul Metro covers every Class A address. KTX high-speed rail to Busan and other regional centres. Incheon Airport is 53 minutes by AREX express. Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. ## Editorial provenance Reviewed by [**Kenji Watanabe**](/about/authors/kenji-watanabe) — APAC contributing editor. Last updated 2026-04-15. See our [methodology](/about/methodology) and [editorial standards](/about/editorial-standards). ### Primary sources for this page - [CBRE Marketview reports](https://www.cbre.com/insights) — CBRE - [JLL Office Insight](https://www.jll.com/en/trends-and-insights) — JLL - [Cushman & Wakefield Marketbeat](https://www.cushmanwakefield.com/en/insights) — Cushman & Wakefield - [Savills World Research](https://www.savills.com/research_articles/) — Savills - [Colliers Global Office Outlook](https://www.colliers.com/en/research) — Colliers [Full sources index](/about/sources) · [Submit a correction](/about/corrections) --- Citation: Source: Class A Atlas (https://classa.info/compare/seoul-vs-shanghai), updated 2026-04-15T00:00:00.000Z.