I mean, at least housing properties have this ever present cultural pressure to keep fueling it for some time. Bussiness however are more realistic. If the location got too expensive they will simply close or move. Maybe even just do their bussines 100% online.
But all these are just my guess. Outsiders like me have no chance to see what’s behind the shop front, and bussiness, especially one in crisis, will always keep up a business as usual everything is fine façade.
Donno leh, I mean, WFH isn’t that big here yet. But I guess there are other factors like operation downsizing and back office outsourcing might also be killing office spaces.