This place is full of ironies. Had the villagers remained to farm the land around it, it would have remained a quaint little village.
It is more likely, however, that three-storey 丁屋s would have been built, with access roads cutting through the fresh water wetlands so treasured now. Making it just another Hong Kong style concrete village. Valuable purely as a piece of real estate.
Abandoned, it has been taken over by vegetation, dragonflies, butterflies, ants, and what not - transformed into a treasured nature preserve, unintentionally.
I would not bet on it remaining this way for long - given that this is Hong Kong.