With most people working from home, and some employers mulling such an arrangement even post-pandemic, the future looks uncertain for office commercial space.
The pandemic could significantly affect office real estate investment trusts, or REITs, in the short to medium term, according to analysts.
A man with a mask on taking a walk at Marina Bay Sands in Singapore's central business district seen in the background on April 1, 2020.The future for office commercial space looks increasingly uncertain, as more and more people work from home and some employers consider making it a permanent arrangement — even after the pandemic.
The risk to real estate is higher when the exposure to coworking spaces is taken into account, with office REITs in some Asian financial centers — such as those in Singapore — being particularly exposed. However, that shift will take time, and there won't be a "significant drop" in occupancy in the near term, particularly in the prime, central locations, she added.
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