Moving into Shenzhen from another Tier 1 market means re-baselining occupancy economics in CNY, re-running headcount density against local norms, and translating lease terminology to local conventions.
Moving into Shenzhen from another Tier 1 market means re-baselining occupancy economics in CNY, re-running headcount density against local norms, and translating lease terminology to local conventions.
Headline Shenzhen rent is 290 CNY/sqft/yr ($40 USD). Translate your incumbent occupancy cost-per-seat to the same basis using the Occupancy Cost tool. Most cross-border moves underestimate fit-out">fit-out timeline and overestimate density transferability.
Net leases. 5-7 year terms standard. Free rent of 8-15 months and TI of CNY 1,000-2,000/sqm typical on a 5-year deal. Concession environment is rich. Use the Lease Term Translator to map terminology before reading the LOI.
Engage a tenant-rep broker, local counsel, an MEP/AV designer with Shenzhen project history, and a project manager who has run a Class A fit-out in this market in the last 24 months.
| 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% |
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.