Singapore ($102/sqft, 5.4% vacancy) and Sydney ($96/sqft, 12.6% vacancy) compete on different axes: Singapore on talent depth and Sydney on rent and tax.
Singapore ($102/sqft, 5.4% vacancy) and Sydney ($96/sqft, 12.6% vacancy) compete on different axes: Singapore on talent depth and Sydney on rent and tax.
| Metric | Singapore | Sydney |
|---|---|---|
| Region | APAC | APAC |
| Country | Singapore | Australia |
| Class A rent (USD/sqft/yr) | $102 | $96 |
| Class A rent (local) | 138 SGD | 1480 AUD |
| Vacancy | 5.4% | 12.6% |
| Trend | rising | flat |
| Prime yield | 3.6% | 5.5% |
| Premium flex / seat / month (USD) | $1,180 | $990 |
| Submarkets covered | 6 | 6 |
| Corporate tax | 17% | 30% |
| Metric | Singapore | Sydney |
|---|---|---|
| Typical term | 4 yrs | 7 yrs |
| Typical rent-free | 6 mos | 30 mos |
| Lease norms | 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. | 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 | 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. | Federal corporate tax 30%. NSW payroll tax applies. No state corporate income tax. |
| Metric | Singapore | Sydney |
|---|---|---|
| Talent index (0–100) | 92 | 85 |
| Talent note | Premium APAC talent hub. Average all-in compensation indexes 92 vs. New York's 100. | Australia's deepest financial-services, technology, and professional-services talent pool. Average all-in compensation indexes 85. |
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.
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.
Sydney is the cheaper Class A market on a USD basis.
Singapore has the deeper talent index (92/100 vs 85/100).
Singapore has the lower headline corporate tax (17% vs 30%). Local incentives can change the effective rate materially.
Singapore typical term is 4 years with 6 months free; Sydney runs 7 years with 30 months free.
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. 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.
Score Singapore, 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.
Reviewed by Kenji Watanabe — APAC contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.