In addition Shanghai, Tokyo, Paris, Los Angeles, Singapore, Taipei, Taiwan, and London were selected as best investment prospects.

Simple arithmetic, Chuck DiRocco, managing director of industry trends and analysis with ULI, tells GlobeSt.com, shows that survey respondents look at the Asia Pacific region as having the best overall prospects. New York City and Washington, DC obviously do not fit into that category; but these cities match another import criteria for global real estate investors: they are clearly gateways for global businesses, DiRocco notes. "This has always been a criteria for investors, but it is becoming more important now."

The report singles out certain asset classes or sectors in "buy", "hold" and "sell" categories. For instance, in Osaka, the city's industrial/distribution "buy" recommendation percentage--70%--is the highest among the Asia Pacific markets. In New York, the favored asset class among survey respondents is warehouse, with 50% labeling the category a "buy". In Washington, at 46%, it is multifamily.

Certainly there are many examples of such investments in each market. For example, at the end of last year, ProLogis Japan Properties Fund II acquired eight distribution centers in Japan, including Osaka, for $136 million, as reported by GlobeSt.com. Istithmar, a Dubai-based investment company, acquired 280 Park Ave. last year for $1.2 billion.

Conversely, some foreign investors are cashing out of their holdings in these cities to record prices. In Washington, DC, for instance, one of the highest trades last year was the sale of the Investment Building at 1501 K St. for $290 million, or $782 per sf. The sellers, as GlobeSt.com reported, were a joint venture between German firm KanAm Group and SITQ, a subsidiary of Canadian Caisse de Depot et Placement.