Hong Kong Rents Fall as Bankers Leave

Layoffs of highly paid bankers are causing cracks in Hong Kong’s luxury-apartment market, by some measures the world’s most expensive.

One of the city’s leading moving companies, Crown Relocations, reports the number of people it’s moving into Hong Kong this year is down by about a quarter from a year ago, while the number it’s moving out is up by about a quarter. The folks moving out have needed lots of cargo space, which the company has interpreted as meaning they’re mid- and senior-level executives, a spokeswoman said.

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