--- title: "Shanghai vs Sydney: Class A office comparison" description: "Side-by-side Class A office comparison for Shanghai and Sydney — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/shanghai-vs-sydney 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 Sydney ($89/sqft, 12.6% vacancy) compete on different axes: Shanghai on rent and tax and Sydney on talent depth. ## TL;DR - Class A rent: Shanghai $40/sqft vs Sydney $89/sqft. - Vacancy: Shanghai 19.8% vs Sydney 12.6%. - Talent index: Shanghai 76 vs Sydney 85. - Corporate tax: Shanghai 25% vs Sydney 30%. - Premium flex/seat/month: Shanghai $740 vs Sydney $990. # Shanghai vs Sydney: Class A office comparison **Shanghai ($40/sqft, 19.8% vacancy) and Sydney ($89/sqft, 12.6% vacancy) compete on different axes: Shanghai on rent and tax and Sydney on talent depth.** ## TL;DR - [Class A](/glossary/class-a) rent: Shanghai $40/sqft vs Sydney $89/sqft. - Vacancy: Shanghai 19.8% vs Sydney 12.6%. - Talent index: Shanghai 76 vs Sydney 85. - Corporate tax: Shanghai 25% vs Sydney 30%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Shanghai $740 vs Sydney $990. ## Market data side-by-side | Metric | Shanghai | Sydney| | Region | APAC | APAC| | Country | China | Australia| | Class A rent (USD/sqft/yr) | $40 | $89| | Class A rent (local) | 260 CNY | 1480 AUD| | Vacancy | 19.8% | 12.6%| | Trend | softening | flat| | Prime yield | 4.4% | 5.5%| | Premium flex / seat / month (USD) | $740 | $990| | Submarkets covered | 5 | 6| | Corporate tax | 25% | 30%| ## Lease norms | Metric | Shanghai | Sydney| | Typical term | 3 yrs | 7 yrs| | Typical rent-free | 8 mos | 30 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. | Standard 5-10 year lease. Gross or net structure (both common). Australian leases distinguish 'face rent' (headline) from 'effective rent' (face minus incentive). Incentives of 30-40% are now standard — typically structured as rent abatement, fit-out contribution, or both.| | Tax note | Headline corporate tax 25% (15% for High and New Technology Enterprises). Free Trade Zone advantages exist. | Federal corporate tax 30%. NSW payroll tax applies. No state corporate income tax.| ## Talent | Metric | Shanghai | Sydney| | Talent index (0–100) | 76 | 85| | Talent note | Mainland China's deepest financial-services and tech talent pool. Average all-in compensation indexes 76. | Australia's deepest financial-services, technology, and professional-services talent pool. Average all-in compensation indexes 85.| ## Transit & commute **Shanghai:** Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. **Sydney:** Sydney Metro and Sydney Trains converge at Wynyard, Town Hall, and Central. The new Sydney Metro City & Southwest line transformed core CBD commute capacity. ## 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 ## Top submarkets — Sydney - [**Circular Quay & Bridge**](/cities/sydney/circular-quay-bridge) — trophy tier · A$1,620/sqm/yr · ≈ $97.8 PSF/yr USD - [**Core CBD**](/cities/sydney/core-cbd) — trophy tier · A$1,500/sqm/yr · ≈ $90.6 PSF/yr USD - [**Barangaroo**](/cities/sydney/barangaroo) — trophy tier · A$1,450/sqm/yr · ≈ $87.6 PSF/yr USD ## Decision criteria ### Pick by cost Shanghai is the cheaper Class A market on a USD basis. ### Pick by talent depth Sydney has the deeper talent index (85/100 vs 76/100). ### Pick by tax Shanghai has the lower headline corporate tax (25% vs 30%). Local incentives can change the effective rate materially. ### Pick by lease optionality Shanghai typical term is 3 years with 8 months free; Sydney runs 7 years with 30 months free. ### Pick by transit Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta. Sydney: Sydney Metro and Sydney Trains converge at Wynyard, Town Hall, and Central. The new Sydney Metro City & Southwest line transformed core CBD commute capacity. ## Run a 4-city comparison Score Shanghai, Sydney 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 Sydney?**** : Shanghai is cheaper on a USD basis: $40/sqft vs $89/sqft. ****Which has better talent depth, Shanghai or Sydney?**** : Sydney indexes higher on talent depth (85 vs 76). ****Which has more sublease availability, Shanghai or Sydney?**** : Shanghai carries higher vacancy (19.8% vs 12.6%) and therefore typically more sublease overhang. ****What lease term should I expect in Shanghai vs Sydney?**** : Shanghai typical term is 3 years with 8 months rent-free; Sydney typical term is 7 years with 30 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. Sydney: Sydney Metro and Sydney Trains converge at Wynyard, Town Hall, and Central. The new Sydney Metro City & Southwest line transformed core CBD commute capacity. ## 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-sydney), updated 2026-04-15T00:00:00.000Z.