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N Korea at crossroads

Real estate turns red hot on China-North Korea border

Boom in Dandong comes amid rising hopes for peace on Korean Peninsula

Hotels and condominiums have been built in Dandong, next to the old bridge, which is currently in use. (Photo by Akira Kodaka)

DANDONG, China -- As the Korean Peninsula heads toward a more peaceful environment, the real estate market is already booming in Dandong, a northeastern Chinese city on the border with North Korea.

At the end of May, a signboard appeared in Dandong advertising “Rooms with a superb view of the river." The sign’s owner is a man in his 40s who runs a real estate business. “You are slow to come," he said with a smile. "Prices have already risen as much as 40% on average.”

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