Morgan Stanley and JLL: Global Office Market Splits into “Best-in-Class” and “the Rest”

Morgan Stanley and JLL analysis indicates that from Hong Kong to New York, the global office market is undergoing a deep bifurcation, with tenants competing for prime properties while the rest face falling rents, low occupancy rates and financing pressure. The analysis argues that this reflects both a global trend of chasing quality assets and a disconnect between improving leasing fundamentals and property value recovery.