# APAC Lease Conventions

> APAC lease conventions vary widely by market — Tokyo gross-rent in tsubo, Singapore service-charge net, Hong Kong gross-floor-area, India carpet-area-with-loading — and translation to US/UK norms must precede signing on any cross-border deal.

**Canonical URL:** https://classa.info/topics/apac-lease-conventions
**Page type:** topic-pillar
**Last updated:** 2026-05-29T16:17:29.065Z
**License:** CC BY 4.0 with attribution to Class A Atlas (https://classa.info).

## TL;DR
- Tokyo: rent quoted per tsubo per month, gross of opex.
- Singapore: service charge separate from rent; lease terms 2–3 years standard.
- Hong Kong: rent on gross floor area; deposit typically 3 months.
- Mumbai/Delhi/Bangalore: carpet area, loading factor 30–35%.
- Seoul: deposit (key money) often 10× monthly rent.
- Sydney/Melbourne: net lease, NABERS-rated buildings standard.

## Key facts
- **spokeGuides**: 2
- **spokeGlossary**: 4
- **spokeTools**: 3
- **cityCoverage**: 33

## FAQ
### What is a tsubo?
Japanese unit of floor area, ~3.305 m² or ~35.6 sf. Tokyo office rents are quoted per tsubo per month.

### What is loading factor in India?
The ratio of chargeable area to carpet area — typically 30–35% in Indian Class A. Rent is quoted on chargeable area.

### Why is Korean key money so high?
Cultural and legal convention. Trophy international tenants increasingly negotiate Western-style 3–6 month deposits.

### Are APAC lease terms shorter than US/UK?
Yes — 2–3 years is standard in Tokyo, Singapore, Hong Kong, Seoul. India is 5+5 with lock-in. Australia is 5–10 years.

### Do I need local counsel?
Yes, on every APAC deal. Registration, VAT/GST, stamp duty, and restoration standards vary materially.

---
Citation: Source: Class A Atlas (https://classa.info/topics/apac-lease-conventions), updated 2026-05-29T16:17:29.065Z.