What is the average Class A rent in Sydney?

Around 1480 AUD/sqft/yr ($96 USD) across the broader Class A index. Trophy submarkets like Core CBD command 20–40% above that.

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

30 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.

Are rents rising or falling in Sydney?

The Sydney Class A market is currently flat. Vacancy is 12.6%, which sets the negotiating context.

Headline Class A rent in Sydney is around 1480 AUD/sqft/yr ($96 USD), with 30 months of typical rent-free on a 7-year term.

Headline Class A rent: 1480 AUD/sqft/yr ($96 USD).
Trophy submarket rents (Core CBD) push to roughly A$1,500/sqm/yr · ≈ $90.6 PSF/yr USD.
Typical concessions on a 7-year deal: 30 months free rent.
Vacancy stands at 12.6% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Sydney Class A office rents and incentives

Headline Class A rent in Sydney is around 1480 AUD/sqft/yr ($96 USD), with 30 months of typical rent-free on a 7-year term.

TL;DR

Headline Class A rent: 1480 AUD/sqft/yr ($96 USD).
Trophy submarket rents (Core CBD) push to roughly A$1,500/sqm/yr · ≈ $90.6 PSF/yr USD.
Typical concessions on a 7-year deal: 30 months free rent.
Vacancy stands at 12.6% — market trend is flat.
Use effective rent (face minus PV of concessions), not headline, to compare deals.

Headline rent vs. effective rent

Asking rents in Sydney are quoted in AUD per sqft per year. Across the broad Class A index the figure is 1480, but the trophy tier in Core CBD reaches roughly A$1,500/sqm/yr · ≈ $90.6 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 Sydney concessions on a 7-year Class A lease run to 30 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 — Federal corporate tax 30%. NSW payroll tax applies. No state corporate income tax.

Where rents land by submarket

Core CBD sits at the top end (~A$1,500/sqm/yr · ≈ $90.6 PSF/yr USD). North Sydney clears around A$1,100/sqm/yr · ≈ $66.4 PSF/yr USD as the prime tier. Macquarie Park represents the value end at ~$48/sqft/yr. The full submarket map is on the Sydney city page.

Key facts

city	Sydney
country	Australia
region	APAC
classARentLocal	1480 AUD/sqft/yr
classARentUsd	$96/sqft/yr
vacancy	12.6%
typicalLeaseYears	7
typicalRentFreeMonths	30
submarkets	6
primeYieldPct	5.5%
trophyRent	A$1,500/sqm/yr · ≈ $90.6 PSF/yr USD
primeRent	A$1,100/sqm/yr · ≈ $66.4 PSF/yr USD

Frequently asked questions

What is the average Class A rent in Sydney?: Around 1480 AUD/sqft/yr ($96 USD) across the broader Class A index. Trophy submarkets like Core CBD command 20–40% above that.
How many months of rent-free are normal in Sydney?: 30 months on a 7-year deal is the standard benchmark. Lease-up product or tenants with strong covenant strength can push higher.
Are rents rising or falling in Sydney?: The Sydney Class A market is currently flat. Vacancy is 12.6%, which sets the negotiating context.

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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