Trailing the leader closely for the second straight year is NewYork City, with Boston, Los Angeles and Washington, D.C. againrounding out the top five, according to the report, which is basedon in-depth interviews of more than 150 leading real estateauthorities compiled and published by New York-based Lend LeaseReal Estate Investments and PricewaterhouseCoopers.

Survey respondents' continue to favor investment in 24-hourcities - cities that have succeeded in bringing together a criticalmass of quality housing and business activity in central locations.Regarding the top three markets in particular, the report notes,"These cities all have what investors crave: multidimensionalbusiness and residential environments, supply constraints,lifestyle attractions and mass transportation. They're places wherepeople want to live and work and where new development isdifficult."

The report notes that the San Francisco market - which alsoincludes San Jose and the Silicon Valley - is expected to continueto thrive even though economic pressures are forcingbusinesses/operations to the suburbs and to lower-priced markets,and the outlook for tech industry tenants is uneven.