New York remains the most popular destination for property investors.

The Big Apple continues to be the preferred destination for property investors searching the globe for bargains. qatar property

According to Cushman Wakefield's annual report, New York attracted $49.2 billion in property transactions last year, a 39 percent improvement over London's $32.3 billion. New York has been in first place for three years in a row.

Los Angeles improved the most among the top 25 cities studied in the study, moving ahead of Tokyo to second position. The top ten cities are San Francisco, Washington, D.C., Hong Kong, Paris, Houston, and Chicago.

Top Cities for Investment | WPC News (excluding development)

"The top cities continue to be successful across multiple industries," the report says, "while different cities appear to dominate different markets, with London leading the office market, Hong Kong leading retail, L.A. leading industrial, and New York leading multifamily and hospitality."

Austin, Milan, Las Vegas, Montreal, and Tampa were the top cities in terms of investment growth (excluding development). The most significant drops were seen in Paris, though Toronto and Chicago also saw drops.

In China, the amount of deals dropped by 40% or more in Shanghai, Beijing, Guangzhou, Chengdu, and Tianjin, but this was "driven mainly by a fall in domestic rather than cross-border spending," according to the study.

London was the most popular destination among foreign investors, with a 13 percent share, compared to 4 percent for Paris and 3.6 percent for New York.

Asia was the most significant source of cross-border capital, with $55.4 billion invested non-domestically, making it the fastest growing category. Last year, capital flowed out of the region increased by 58 percent, while cross-border deals by Middle East and African companies increased by 34 percent.

The most significant rises came from Chinese and Singaporean buyers, who replaced Malaysian funds as the most powerful Asian buyers last year.

The most common investment target in the top cities is office projects, but their market share has shrunk from 48 percent to 45 percent, with residential now accounting for 26 percent of all deals in the top 25 cities.

"While many of the largest global players have concentrated on offices to date — perhaps the most global and easiest to understand property type across borders," the firm said, "these players are now broadening their attention to other sectors, in particular, large scale mixed commercial and residential projects."

The total amount of money invested in the world rose by 16.7% to $649 billion.

Property investment is expected to increase in the coming year, with more players searching for new areas to invest in.

Cushman Wakefield predicts that "Europe will likely be the top destination for cross-border players due to the combination of low risk and potential for recovery and release of distressed assets."

The Carlyle Group has been given approval for a £1 billion London project.

Carlyle Group, a private equity firm, was given permission last night to create a £1 billion ($1.6 billion) residential and office redevelopment project on the south bank of the River Thames, essentially creating a new "gateway" to London.

The Strategic Planning Committee of Southwark Council approved the 1.4 million-square-foot scheme, which will replace the Sampson House data center and the Ludgate House office building across the City of London, Carlyle reported.

After current tenants in Ludgate House's leases expire in the first quarter of 2015 and the Sampson House's leases expire in the second quarter of 2018, construction on the project will begin. Around 2020 and 2023, the project is scheduled to be completed.

The redevelopment project, designed by PLP Architecture, will include nine new buildings, the tallest of which will be a 48-story residential tower. Carlyle would also give the council £65 million to build 260 new affordable homes in Southwark.

"This is a once-in-a-lifetime opportunity to build a vibrant new destination area with residences, retail, and leisure facilities that will bring thousands of new jobs to the area while also enabling us to make a major contribution to Southwark's broader housing needs," said Mark Harris, managing director of The Carlyle Group, in a statement.

Residential buildings will be built on the north end of the site to take advantage of the riverfront venue, according to the company. The office buildings will be on the south side, with floor plans ranging from 2,500 to 13,500 square feet.

The Thames' south bank has been a developer's hotspot. According to a recent CBRE survey, there are 27 projects under way on the south side, totaling over 16,000 square feet.