Intra-Asian property investment may have ground to a virtual standstill amid the currency crisis, but some agents in the region claim they are now busier than ever with enquiries.
Little in the way of transactions is expected until the regional currencies calm down, but agents are reporting a wave of enquiries at their regional offices from bargain hunters keen to find out what properties might be available when the time to strike is right.
As the year goes on, analysts predict a rising tide of fire sales, particularly in Bangkok, as banks force their troubled clients to sell. The same might occur in Kuala Lumpur, Jakarta and Manila.
Many owners have lost money on the stock and currency markets, and their businesses may be on the verge of collapse.
With liquidity tight, a large number of developers are said to be having trouble finding financing to complete their projects.
For the moment, most are said to be trying to hold on, although given past experience elsewhere there will no doubt come a time when the banks move in to give them a little shove.