The World's Most Expensive Property Market Faces Further Pressure With Fed Poised To Cut Rates

Photographer: Justin Chin/Bloomberg

Calls from laid off Cathay Pacific Airways Ltd. pilots began arriving at Ok Property Agency Ltd. not long immediately after the Hong Kong airline declared one particular of the biggest career cuts in global aviation.

The cull that influenced additional than 5,000 Cathay workers on Wednesday has forced some to locate less expensive housing or leave Hong Kong entirely. It is a agonizing blow for a single of the city’s largest workforces, and but a further hit for a house marketplace underneath stress from political turmoil and a pandemic-induced economic downturn.