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Hong Kong's art scene seems to be experiencing something quite similar to New York's. Galleries in Hong Kong started to move out of their So Ho, "South of Hollywood Road," more than a decade ago when restaurants, bars and galleries moved into it, "pushing out old-fashioned butchers, grocers and soy-sauce makers" (Lau). SoHo got "crowded and expensive," so some galleries relocated in an adjoining area called NoHo, for "North of Hollywood," or BoHo, for "Below Hollywood" (Lau). Lau says, "the more adventurous, or perhaps just the more rent-sensitive, are increasingly moving to the old working-class districts of Sheung Wan, Western and Sai Ying Pun," all of them within a 30-minute walk from the SoHo district (Lau) (see map). Sound familiar?
A gallery in SoHo, Hong Kong 
A gallery in NoHo, Hong Kong
http://i.cdn.cnngo.com/sites/default/files/imagecache/inline_image_624x416/2010/07/22/7-madhouse1.jpg
GoogleMap image of Hong Kong (A: SoHo, B: Sheung Wan, C: Western, D: Sai Ying Pun)
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Lau, Joyce Hor-chung. "SoHo, NoHo. Sound Familiar?" The New York Times. 29 Oct. 2010. Web. 16 Jan. 2012. <http://www.nytimes.com/2010/10/30/arts/30iht-sckong.html>.
Saltz, Jerry. "No Next Chelsea." Modern Painters. October 2006.