With Japan (59 per cent) and Australia (53 per cent) listed as the preferred target countries for more than half of investors surveyed, their largest cities also topped the table in real estate agency Colliers International's 2016 Global Investor Outlook.
In the city ranking Tokyo (33 per cent), Sydney (29 per cent) and Melbourne (23 per cent) were followed by Hong Kong (16 per cent), Shanghai (16 per cent) and Singapore (16 per cent) as the preferred Asia-Pacific cities for investment this year, the report says.
CBD offices remain the favoured investment for both Asian and Australia-New Zealand investors, with nearly two-thirds of respondents singling the category out.
At a time of growing caution among investors globally, the appetite to take on new risk is diminishing, however, the report also says.
The number of Asian investors willing to take more risks in the next 12 months has declined to 33 per cent from last year's 58 per cent.
Australian investors and their Kiwi counterparts have an even weaker appetite to increase their risk to boost higher returns, with just 35 per cent saying they were willing to do so.
The attraction of the Asia Pacific region to outside investors has weakened slightly from last year. The share of overseas investors looking at the region in the next 12 months is 15 per cent, compared with 18 per cent last year.
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