Declining population in Singapore

Recently, the Straits Times reported that the population declined in Singapore. There is a a 4.1 per cent drop in overall population. The non-resident population fell by 10.7 per cent to 1.47 million, Singapore's citizen population also decreased by 0.7 per cent to 3.5 million, while the permanent resident (PR) population fell by 6.2 per cent to 0.49 million.

The news point out that the main reason of the fall is due to the covid pandemic and the travel restrictions that are in place. 

Some have said that such fall is worrying, with the falling number of foreigners, will it affect the talent pool in Singapore, the economy as well as the property market in Singapore?

Well I guess it might affect the talent pool in Singapore, but this could be temporary given that Singapore is opening up, and travel restrictions are slowly easing. But besides this point, we need to note that more are working from home and working remotely. Many businesses have reduced the need for office space. For talent crunch, it does not fully matter if the person is in Singapore or not, because they do not need to be physically located in Singapore. This also points out that the competition is not within Singapore alone but is worldwide. 

Property market - I guess this is mixed. 

Due to WFH and employees working remotely, there is a lesser need for office space and such, the office rental and reits might feel the impact. 

But also because of WFH, many see the need for more personal space, and thus more would rather rent out a space of their own.