Is Class A office cheaper in Seoul or Sydney?

Sydney is cheaper on a USD basis: $96/sqft vs $102/sqft.

Which has better talent depth, Seoul or Sydney?

Sydney indexes higher on talent depth (85 vs 82).

Which has more sublease availability, Seoul or Sydney?

Sydney carries higher vacancy (12.6% vs 5.2%) and therefore typically more sublease overhang.

What lease term should I expect in Seoul vs Sydney?

Seoul typical term is 5 years with 6 months rent-free; Sydney typical term is 7 years with 30 months rent-free.

Seoul ($102/sqft, 5.2% vacancy) and Sydney ($96/sqft, 12.6% vacancy) compete on different axes: Seoul on rent and tax and Sydney on talent depth.

Class A rent: Seoul $102/sqft vs Sydney $96/sqft.
Vacancy: Seoul 5.2% vs Sydney 12.6%.
Talent index: Seoul 82 vs Sydney 85.
Corporate tax: Seoul 24.2% vs Sydney 30%.
Premium flex/seat/month: Seoul $880 vs Sydney $990.

Seoul vs Sydney: Class A office comparison

Seoul ($102/sqft, 5.2% vacancy) and Sydney ($96/sqft, 12.6% vacancy) compete on different axes: Seoul on rent and tax and Sydney on talent depth.

TL;DR

Class A rent: Seoul $102/sqft vs Sydney $96/sqft.
Vacancy: Seoul 5.2% vs Sydney 12.6%.
Talent index: Seoul 82 vs Sydney 85.
Corporate tax: Seoul 24.2% vs Sydney 30%.
Premium flex/seat/month: Seoul $880 vs Sydney $990.

Market data side-by-side

Metric	Seoul	Sydney
Region	APAC	APAC
Country	South Korea	Australia
Class A rent (USD/sqft/yr)	$102	$96
Class A rent (local)	142000 KRW	1480 AUD
Vacancy	5.2%	12.6%
Trend	rising	flat
Prime yield	4%	5.5%
Premium flex / seat / month (USD)	$880	$990
Submarkets covered	6	6
Corporate tax	24.2%	30%

Lease norms

Metric	Seoul	Sydney
Typical term	5 yrs	7 yrs
Typical rent-free	6 mos	30 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.	Standard 5-10 year lease. Gross or net structure (both common). Australian leases distinguish 'face rent' (headline) from 'effective rent' (face minus incentive). Incentives of 30-40% are now standard — typically structured as rent abatement, fit-out contribution, or both.
Tax note	Combined federal corporate tax 24.2% (after surtax). Local taxes apply.	Federal corporate tax 30%. NSW payroll tax applies. No state corporate income tax.

Talent

Metric	Seoul	Sydney
Talent index (0–100)	82	85
Talent note	Deepest tech (Samsung, LG, Naver, Kakao) and finance talent pool in Korea. Average all-in compensation indexes 82.	Australia's deepest financial-services, technology, and professional-services talent pool. Average all-in compensation indexes 85.

Transit & commute

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.

Sydney: Sydney Metro and Sydney Trains converge at Wynyard, Town Hall, and Central. The new Sydney Metro City & Southwest line transformed core CBD commute capacity.

Top submarkets — Seoul

Gangnam (GBD) — trophy tier · ₩145,000/pyeong/mo · ≈ $35.2 PSF/yr USD
Yeouido (YBD) — trophy tier · ₩138,000/pyeong/mo · ≈ $33.5 PSF/yr USD
Jongno / Gwanghwamun (CBD) — trophy tier · ₩130,000/pyeong/mo · ≈ $31.6 PSF/yr USD

Top submarkets — Sydney

Circular Quay & Bridge — trophy tier · A$1,620/sqm/yr · ≈ $97.8 PSF/yr USD
Core CBD — trophy tier · A$1,500/sqm/yr · ≈ $90.6 PSF/yr USD
Barangaroo — trophy tier · A$1,450/sqm/yr · ≈ $87.6 PSF/yr USD

Decision criteria

Pick by cost

Sydney is the cheaper Class A market on a USD basis.

Pick by talent depth

Sydney has the deeper talent index (85/100 vs 82/100).

Pick by tax

Seoul has the lower headline corporate tax (24.2% vs 30%). Local incentives can change the effective rate materially.

Pick by lease optionality

Seoul typical term is 5 years with 6 months free; Sydney runs 7 years with 30 months free.

Pick by transit

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. Sydney: Sydney Metro and Sydney Trains converge at Wynyard, Town Hall, and Central. The new Sydney Metro City & Southwest line transformed core CBD commute capacity.

Run a 4-city comparison

Score Seoul, Sydney and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.

Run a 4-city comparison →

Frequently asked questions

Is Class A office cheaper in Seoul or Sydney?: Sydney is cheaper on a USD basis: $96/sqft vs $102/sqft.
Which has better talent depth, Seoul or Sydney?: Sydney indexes higher on talent depth (85 vs 82).
Which has more sublease availability, Seoul or Sydney?: Sydney carries higher vacancy (12.6% vs 5.2%) and therefore typically more sublease overhang.
What lease term should I expect in Seoul vs Sydney?: Seoul typical term is 5 years with 6 months rent-free; Sydney typical term is 7 years with 30 months rent-free.
How does transit and commuter access compare?: 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. Sydney: Sydney Metro and Sydney Trains converge at Wynyard, Town Hall, and Central. The new Sydney Metro City & Southwest line transformed core CBD commute capacity.

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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