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Imagine being invested in a piece of this but paying half the current market value. Some analysts say exposure to property stocks on a major Asian exchange offer better returns than physical buildings in the current economic climate. Peter Churchouse is Director of LIM Advisors. SOUNDBITE (ENGLISH) PETER CHURCHOUSE, DIRECTOR, LIM ADVISORS, SAYING: "There's just a big disconnect between the underlying realities of real estate and the capital markets. Capital markets are just basically marking down anything to do with real estate worldwide, really I think it's a result of the sub prime problems around the world." Japanese Real Estate Investment Trusts, or REITS, are trading at more than a 40 percent discount to net assets value, according to Churchouse. Share in Thai property developers are all bargains. A global credit squeeze has had a major impact on Asian stock markets this year with rate sensitive property shares among the worst hit. Singapore's property sector has fallen 14 percent. Hong Kong property stocks down 25 percent since the start of january. SOUNDBITE: (ENGLISH) PETER CHURCHOUSE, DIRECTOR, LIM ADVISORS, SAYING: "Real estate is a dirty word around the world, but in actual fact physical real estate in this part of the world is doing well. Vacancy rates in the region's office market are extremely low." Long term investors may be more interested in holding on to bricks and mortar especially in China, where demand is seen robust for years to come. But property stocks may suit the short term investor looking to get in when stock values are at the ground level. Tara Joseph-Hui reporting for Reuters.