LOS ANGELES-Even though the European debt crisis is on the minds of commercial real estate investors and the job picture isn't looking like it's going to get a whole lot brighter any time soon, it doesn't look like the multifamily sector is losing steam.

That was the message of a Jones Lang LaSalle/RealShare’s Apartments Outlook 2012 Survey, which had the results of some 150 attendees here at last month's RealShare Apartments 2011 conference. Click here for a complete recap of that event.

Investors aren't just looking in core, stronger performing markets on the coasts. They are now searching for value-added assets that might be in secondary markets instead of the favored Washington, DC or San Francisco.

"During the past year, apartments have shown a vitality that’s unparalleled among the other asset classes," says Jubeen Vaghefi, managing director and leader of Jones Lang LaSalle’s multifamily investment sales team. "This survey’s results only solidify that perspective as we watch investors chase yields in markets that previously have been under the radar."

Private investors make up a majority of the buyers out there, at 46%, followed by institutional investors, which make up 23%. Foreign buyers are also on the rise in markets that they know from "magazine covers," such as New York City; Washington, DC; San Francisco; Los Angeles; and Seattle, says David Young, managing director and leader of Jones Lang LaSalle’s West Coast multifamily team.

Click the image below for a video with Young at RealShare Apartments:

Most of those foregin investors, 47%, come from Asia. That is followed by 28% from the Middle East and 26% from Canada.

Meanwhile, 67% of those who took the survey said that their top priority in an investment is that it is a value-add asset. Being near a transit-oriented area was important for 52%, and 45% wanted a suburban, garden-style setting.

"Outside of cap rates and price per unit, we’re focusing on location for our acquisitions,” says Eric Freedman, Coastline Capital Partners.  “Where are the people going to be, where is the demand always going to be?  Even when the market goes down, or when it goes up…if you can find a place where people want to live and work—that’s what we’re targeting.”

Click below for a video of Freedman at the event:

So while there are many places to be fearful in this economy, multifamily is providing a bright spot for investors. GlobeSt.com will have continued coverage of the survey over the next few weeks.

RealShare APARTMENTS is produced by ALM's Real Estate Media Group. For access to exclusive session video and ability to network with more than 1,400 national multifamily executives, click here.