What is the average Class A rent in Hangzhou?

Around 6.2 CNY/sqft/yr ($295 USD) across the broader Class A index. Trophy submarkets like Future Sci-Tech City (Xixi) command 20–40% above that.

How many months of rent-free are normal in Hangzhou?

6 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 Hangzhou?

The Hangzhou Class A market is currently softening. Vacancy is 18.4%, which sets the negotiating context.

Headline Class A rent in Hangzhou is around 6.2 CNY/sqft/yr ($295 USD), with 6 months of typical rent-free on a 5-year term.

Headline Class A rent: 6.2 CNY/sqft/yr ($295 USD).
Trophy submarket rents (Future Sci-Tech City (Xixi)) push to roughly ¥360/sqm/mo · ≈ $55.8 PSF/yr USD.
Typical concessions on a 5-year deal: 6 months free rent.
Vacancy stands at 18.4% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Hangzhou Class A office rents and incentives

Headline Class A rent in Hangzhou is around 6.2 CNY/sqft/yr ($295 USD), with 6 months of typical rent-free on a 5-year term.

TL;DR

Headline Class A rent: 6.2 CNY/sqft/yr ($295 USD).
Trophy submarket rents (Future Sci-Tech City (Xixi)) push to roughly ¥360/sqm/mo · ≈ $55.8 PSF/yr USD.
Typical concessions on a 5-year deal: 6 months free rent.
Vacancy stands at 18.4% — market trend is softening.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Hangzhou are quoted in CNY per sqft per year. Across the broad Class A index the figure is 6.2, but the trophy tier in Future Sci-Tech City (Xixi) reaches roughly ¥360/sqm/mo · ≈ $55.8 PSF/yr USD. Always discount headline rent by the present value of free rent and fit-out-capex">tenant improvement allowance to land on effective rent — the only number that compares cleanly across deals.

Rent-free and TI

Standard Hangzhou concessions on a 5-year Class A lease run to 6 months of base-rent abatement. Trophy lease-ups can push rent-free 25–40% above that benchmark. Local cost-of-occupancy is also shaped by tax — Chinese corporate tax of 25% (15% for high-tech enterprise certified firms in qualifying sectors). 13% VAT.

Where rents land by submarket

Future Sci-Tech City (Xixi) sits at the top end (~¥360/sqm/mo · ≈ $55.8 PSF/yr USD). Wulin Square clears around ¥264/sqm/mo · ≈ $40.9 PSF/yr USD as the prime tier. Xiasha Economic Zone represents the value end at ~¥240/sqm/mo · ≈ $37.2 PSF/yr USD. The full submarket map is on the Hangzhou city page.

Key facts

city	Hangzhou
country	China
region	APAC
classARentLocal	6.2 CNY/sqft/yr
classARentUsd	$295/sqft/yr
vacancy	18.4%
typicalLeaseYears	5
typicalRentFreeMonths	6
submarkets	5
primeYieldPct	5%
trophyRent	¥360/sqm/mo · ≈ $55.8 PSF/yr USD
primeRent	¥264/sqm/mo · ≈ $40.9 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Hangzhou?: Around 6.2 CNY/sqft/yr ($295 USD) across the broader Class A index. Trophy submarkets like Future Sci-Tech City (Xixi) command 20–40% above that.
How many months of rent-free are normal in Hangzhou?: 6 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 Hangzhou?: The Hangzhou Class A market is currently softening. Vacancy is 18.4%, which sets the negotiating context.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

CBRE Marketview reports — CBRE
JLL Office Insight — JLL
Cushman & Wakefield Marketbeat — Cushman & Wakefield
Savills World Research — Savills
Colliers Global Office Outlook — Colliers

Full sources index · Submit a correction