However, they believe that the level of adoption will likely vary according to sectors and job scopes, as it is not a one-size-fits-all arrangement. “While return of space in the coming years remains an overhang, we believe that the Grade A offices, with property attributes surrounding sustainability, will continue to attract tenants and remain resilient,” the analysts add.
DBS Group Research’s Rachel Tan and Derek Tan have maintained a positive sentiment on office spaces in Singapore, despite a rising trend of flexible working arrangements.
They expect demand for office space emerging “with a new face” post Covid-19. With technology enablers and positive feedback from employees, firms should increasingly look to adopt more flexible working arrangements, with the aim of crystallising occupancy savings in the near term.
