Beijing ($45/sqft, 18.5% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Beijing on rent and tax and Singapore on talent depth.
Beijing ($45/sqft, 18.5% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Beijing on rent and tax and Singapore on talent depth.
| Metric | Beijing | Singapore |
|---|---|---|
| Region | APAC | APAC |
| Country | China | Singapore |
| Class A rent (USD/sqft/yr) | $45 | $102 |
| Class A rent (local) | 320 CNY | 138 SGD |
| Vacancy | 18.5% | 5.4% |
| Trend | softening | rising |
| Prime yield | 5.6% | 3.6% |
| Premium flex / seat / month (USD) | $580 | $1,180 |
| Submarkets covered | 5 | 6 |
| Corporate tax | 25% | 17% |
| Metric | Beijing | Singapore |
|---|---|---|
| Typical term | 5 yrs | 4 yrs |
| Typical rent-free | 8 mos | 6 mos |
| Lease norms | Net leases. 5-7 year terms standard. Free rent of 6-12 months and TI of CNY 1,000-2,000/sqm typical on a 5-year Class A deal. | Singapore leases are typically 3-5 years, gross-rent based with the landlord covering most operating expenses inside the rent. Rent-free of 4-9 months on a 5-year term is standard. Rent reviews on renewal are open-market. Bank guarantees of 3-6 months are routine. Reinstatement at lease-end is contractual and usually significant — budget for it. |
| Tax note | 25% standard Chinese corporate income tax. 15% reduced rate for High and New Technology Enterprises (HNTE). Beijing offers tech-sector subsidies in Zhongguancun and the Beijing Free Trade Zone. | Headline corporate tax of 17%, with a partial tax exemption for the first SGD 200,000 of chargeable income. A network of double-tax treaties and the Singapore Variable Capital Company (VCC) regime make Singapore particularly attractive for fund managers and family offices. |
| Metric | Beijing | Singapore |
|---|---|---|
| Talent index (0–100) | 90 | 92 |
| Talent note | Deepest tech, finance, and government affairs talent in China. Strong feed from Tsinghua, Peking University, Renmin University, and a deep network of T-1 universities. Mandarin-only operating environment for most domestic tenants. | Premium APAC talent hub. Average all-in compensation indexes 92 vs. New York's 100. |
Beijing: Beijing Subway (27+ lines, the world's largest by length). Beijing Capital Airport (PEK) and Daxing Airport (PKX) both rail-served. CBD walking access from multiple subway interchanges.
Singapore: The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment.
Beijing is the cheaper Class A market on a USD basis.
Singapore has the deeper talent index (92/100 vs 90/100).
Singapore has the lower headline corporate tax (17% vs 25%). Local incentives can change the effective rate materially.
Beijing typical term is 5 years with 8 months free; Singapore runs 4 years with 6 months free.
Beijing: Beijing Subway (27+ lines, the world's largest by length). Beijing Capital Airport (PEK) and Daxing Airport (PKX) both rail-served. CBD walking access from multiple subway interchanges. Singapore: The MRT network reaches every CBD address. Changi Airport is 20 minutes by MRT or taxi. Jurong Region Line and Cross Island Line expansions are extending the catchment.
Score Beijing, Singapore and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.