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Gentrification Defies Hong Kong Realty Drop

Despite a noticeable drop in Hong Kong’s real estate market, some areas of the city are still experiencing a boom because of gentrification. Hong Kong real estate prices are projected to fall 20 percent by the end of 2017. But in recent years, several of the city’s oldest working-class neighborhoods have quickly been transformed by real estate developers to become trendy new districts populated with cafes, boutiques and new homes for wealthy locals and foreign nationals. Residents like...

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