How many Class A submarkets are in Shenzhen?

5, ranging from trophy (Futian CBD) down to established and emerging clusters.

Shenzhen has 5 distinct Class A submarkets we track, anchored by Futian CBD at the trophy tier.

5 submarkets covered.
Trophy tier: Futian CBD, Houhai (Nanshan), Qianhai Free Trade Zone.
Prime tier: Luohu.
Established/emerging tier: Bao'an Airport Corridor.

Shenzhen Class A submarkets

Shenzhen has 5 distinct Class A submarkets we track, anchored by Futian CBD at the trophy tier.

TL;DR

5 submarkets covered.
Trophy tier: Futian CBD, Houhai (Nanshan), Qianhai Free Trade Zone.
Prime tier: Luohu.
Established/emerging tier: Bao'an Airport Corridor.

By tier

**Futian CBD** (trophy, ~¥360/sqm/mo · ≈ $55.8 PSF/yr USD) — Shenzhen's trophy financial core. **Houhai (Nanshan)** (trophy, ~¥320/sqm/mo · ≈ $49.6 PSF/yr USD) — Tech trophy frontier. **Qianhai Free Trade Zone** (trophy, ~¥280/sqm/mo · ≈ $43.4 PSF/yr USD) — Cross-border financial trophy frontier. **Luohu** (prime, ~¥220/sqm/mo · ≈ $34.1 PSF/yr USD) — Legacy CBD bordering Hong Kong. **Bao'an Airport Corridor** (established, ~¥160/sqm/mo · ≈ $24.8 PSF/yr USD) — Logistics and tech R&D belt.

Key facts

city	Shenzhen
country	China
region	APAC
classARentLocal	290 CNY/sqft/yr
classARentUsd	$40/sqft/yr
vacancy	24.8%
typicalLeaseYears	5
typicalRentFreeMonths	10
submarkets	5
primeYieldPct	5.4%
trophyCount	3
primeCount	1

Frequently asked questions

How many Class A submarkets are in Shenzhen?: 5, ranging from trophy (Futian CBD) down to established and emerging clusters.

Editorial provenance

Reviewed by Kenji Watanabe — APAC contributing editor. 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

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