Seoul ($102/sqft, 5.2% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Seoul on rent and tax and Singapore on talent depth.
Seoul ($102/sqft, 5.2% vacancy) and Singapore ($102/sqft, 5.4% vacancy) compete on different axes: Seoul on rent and tax and Singapore on talent depth.
| Metric | Seoul | Singapore |
|---|---|---|
| Region | APAC | APAC |
| Country | South Korea | Singapore |
| Class A rent (USD/sqft/yr) | $102 | $102 |
| Class A rent (local) | 142000 KRW | 138 SGD |
| Vacancy | 5.2% | 5.4% |
| Trend | rising | rising |
| Prime yield | 4% | 3.6% |
| Premium flex / seat / month (USD) | $880 | $1,180 |
| Submarkets covered | 6 | 6 |
| Corporate tax | 24.2% | 17% |
| Metric | Seoul | Singapore |
|---|---|---|
| Typical term | 5 yrs | 4 yrs |
| Typical rent-free | 6 mos | 6 mos |
| Lease norms | Standard 5-year lease (often 3+2). Rent + management fees billed separately. Large jeonse (lease deposit) common — 10-20x monthly rent. Reinstatement contractual. | 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 | Combined federal corporate tax 24.2% (after surtax). Local taxes apply. | 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 | Seoul | Singapore |
|---|---|---|
| Talent index (0–100) | 82 | 92 |
| Talent note | Deepest tech (Samsung, LG, Naver, Kakao) and finance talent pool in Korea. Average all-in compensation indexes 82. | Premium APAC talent hub. Average all-in compensation indexes 92 vs. New York's 100. |
Seoul: Seoul Metro covers every Class A address. KTX high-speed rail to Busan and other regional centres. Incheon Airport is 53 minutes by AREX express.
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.
Seoul and Singapore are roughly cost-equivalent in USD/sqft.
Singapore has the deeper talent index (92/100 vs 82/100).
Singapore has the lower headline corporate tax (17% vs 24.2%). Local incentives can change the effective rate materially.
Seoul typical term is 5 years with 6 months free; Singapore runs 4 years with 6 months free.
Seoul: Seoul Metro covers every Class A address. KTX high-speed rail to Busan and other regional centres. Incheon Airport is 53 minutes by AREX express. 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 Seoul, 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.