Mr Sharael Taha: To ask the Minister for Trade and Industry (a) whether a study has been commissioned to understand the impact of a work-from-home norm on demand for commercial rental property; and (b) if so, whether there are any measures being explored to soften the impact on the market.
Written Answer by Minister for Trade & Industry Mr Chan Chun Sing
1. Working from home has become more prevalent in recent years, due to technological advances and corporate policies. COVID-19 has accelerated this trend. The Government has not commissioned a study into the impact of working from home on commercial rental property. Nevertheless, we are monitoring vacancy rates and rentals carefully in order to calibrate the supply of commercial properties in line with changes in demand.