--- title: "Shanghai vs Singapore: Class A office comparison" description: "Side-by-side Class A office comparison for Shanghai and Singapore — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/shanghai-vs-singapore pageType: comparison lastUpdated: 2026-04-15T00:00:00.000Z license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)." --- > Shanghai ($40/sqft, 19.8% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Shanghai on rent and tax and Singapore on talent depth. ## TL;DR - Class A rent: Shanghai $40/sqft vs Singapore $102/sqft. - Vacancy: Shanghai 19.8% vs Singapore 5.4%. - Talent index: Shanghai 76 vs Singapore 92. - Corporate tax: Shanghai 25% vs Singapore 17%. - Premium flex/seat/month: Shanghai $740 vs Singapore $1,180. # Shanghai vs Singapore: Class A office comparison **Shanghai ($40/sqft, 19.8% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Shanghai on rent and tax and Singapore on talent depth.** ## TL;DR - [Class A](/glossary/class-a) rent: Shanghai $40/sqft vs Singapore $102/sqft. - Vacancy: Shanghai 19.8% vs Singapore 5.4%. - Talent index: Shanghai 76 vs Singapore 92. - Corporate tax: Shanghai 25% vs Singapore 17%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Shanghai $740 vs Singapore $1,180. ## Market data side-by-side | Metric | Shanghai | Singapore| | Region | APAC | APAC| | Country | China | Singapore| | Class A rent (USD/sqft/yr) | $40 | $102| | Class A rent (local) | 260 CNY | 11.5 SGD| | Vacancy | 19.8% | 5.4%| | Trend | softening | rising| | Prime yield | 4.4% | 3.6%| | Premium flex / seat / month (USD) | $740 | $1,180| | Submarkets covered | 5 | 6| | Corporate tax | 25% | 17%| ## Lease norms | Metric | Shanghai | Singapore| | Typical term | 3 yrs | 4 yrs| | Typical rent-free | 8 mos | 6 mos| | Lease norms | 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. | Singapore leases are typically 3-5 years, gross-rent based with the landlord covering most operating expenses inside the rent. Rent-free of 4-9 months on a 5-year term is standard. Rent reviews on renewal are open-market. Bank guarantees of 3-6 months are routine. Reinstatement at lease-end is contractual and usually significant — budget for it.| | Tax note | Headline corporate tax 25% (15% for High and New Technology Enterprises). Free Trade Zone advantages exist. | Headline corporate tax of 17%, with a partial tax exemption for the first SGD 200,000 of chargeable income. A network of double-tax treaties and the Singapore Variable Capital Company (VCC) regime make Singapore particularly attractive for fund managers and family offices.| ## Talent | Metric | Shanghai | Singapore| | Talent index (0–100) | 76 | 92| | Talent note | Mainland China's deepest financial-services and tech talent pool. Average all-in compensation indexes 76. | Premium APAC talent hub. Average all-in compensation indexes 92 vs. New York's 100.| ## Transit & commute **Shanghai:** Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. **Singapore:** The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment. ## Top submarkets — Shanghai - [**Lujiazui (Pudong)**](/cities/shanghai/lujiazui) — [trophy tier](/topics/trophy-asset-selection) · ¥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 ## Top submarkets — Singapore - [**Marina Bay**](/cities/singapore/marina-bay) — trophy tier · S$14.5/sqft/mo · ≈ $129 PSF/yr USD - [**Raffles Place**](/cities/singapore/raffles-place) — trophy tier · S$13.2/sqft/mo · ≈ $117 PSF/yr USD - [**Shenton Way & Tanjong Pagar**](/cities/singapore/shenton-way-tanjong-pagar) — prime tier · S$11.5/sqft/mo · ≈ $102 PSF/yr USD ## Decision criteria ### Pick by cost Shanghai is the cheaper Class A market on a USD basis. ### Pick by talent depth Singapore has the deeper talent index (92/100 vs 76/100). ### Pick by tax Singapore has the lower headline corporate tax (17% vs 25%). Local incentives can change the effective rate materially. ### Pick by lease optionality Shanghai typical term is 3 years with 8 months free; Singapore runs 4 years with 6 months free. ### Pick by transit Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. Singapore: The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment. ## Run a 4-city comparison Score Shanghai, Singapore 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 Shanghai or Singapore?**** : Shanghai is cheaper on a USD basis: $40/sqft vs $102/sqft. ****Which has better talent depth, Shanghai or Singapore?**** : Singapore indexes higher on talent depth (92 vs 76). ****Which has more sublease availability, Shanghai or Singapore?**** : Shanghai carries higher vacancy (19.8% vs 5.4%) and therefore typically more sublease overhang. ****What lease term should I expect in Shanghai vs Singapore?**** : Shanghai typical term is 3 years with 8 months rent-free; Singapore typical term is 4 years with 6 months rent-free. ****How does transit and commuter access compare?**** : Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. Singapore: The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment. ## 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/shanghai-vs-singapore), updated 2026-04-15T00:00:00.000Z.