Boston ($78/sqft, 19.5% vacancy) and Shanghai ($122/sqft, 19.8% vacancy) compete on different axes: Boston on talent depth and Shanghai on rent and tax.
Boston ($78/sqft, 19.5% vacancy) and Shanghai ($122/sqft, 19.8% vacancy) compete on different axes: Boston on talent depth and Shanghai on rent and tax.
| Metric | Boston | Shanghai |
|---|---|---|
| Region | Americas | APAC |
| Country | United States | China |
| Class A rent (USD/sqft/yr) | $78 | $122 |
| Class A rent (local) | 78 USD | 880 CNY |
| Vacancy | 19.5% | 19.8% |
| Trend | flat | softening |
| Prime yield | 6.2% | 4.4% |
| Premium flex / seat / month (USD) | $1,140 | $740 |
| Submarkets covered | 6 | 5 |
| Corporate tax | 28% | 25% |
| Metric | Boston | Shanghai |
|---|---|---|
| Typical term | 10 yrs | 3 yrs |
| Typical rent-free | 18 mos | 8 mos |
| Lease norms | Modified-gross with op-ex escalations. Rent-free 18-24 months on 10-year term standard. Lab leases carry distinct economics — base rent plus operating expenses plus utilities pass-through. | Standard 3-year lease with renewal option. Rent gross of management fees but exclusive of utilities. Bank guarantee or rent deposit of 3-6 months standard. Reinstatement at lease-end is contractual. |
| Tax note | Combined federal + Massachusetts corporate tax 28%. | Headline corporate tax 25% (15% for High and New Technology Enterprises). Free Trade Zone advantages exist. |
| Metric | Boston | Shanghai |
|---|---|---|
| Talent index (0–100) | 95 | 76 |
| Talent note | Deepest STEM and life-sciences talent pool in the US — anchored by MIT, Harvard, BU. Average all-in compensation indexes 95. | Mainland China's deepest financial-services and tech talent pool. Average all-in compensation indexes 76. |
Boston: MBTA subway, commuter rail, and Logan Airport access. Silver Line connects the Seaport to South Station.
Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta.
Boston is the cheaper Class A market on a USD basis.
Boston has the deeper talent index (95/100 vs 76/100).
Shanghai has the lower headline corporate tax (25% vs 28%). Local incentives can change the effective rate materially.
Boston typical term is 10 years with 18 months free; Shanghai runs 3 years with 8 months free.
Boston: MBTA subway, commuter rail, and Logan Airport access. Silver Line connects the Seaport to South Station. Shanghai: Shanghai Metro covers every Class A address. Hongqiao TGV / Maglev connectivity to Beijing and the Yangtze Delta.
Score Boston, Shanghai 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 Miriam Hollander — Lead market analyst. Last updated 2026-04-15. See our methodology and editorial standards.