Auckland is highlighted as one of the world's top investment choices for commercial real estate.
International property consultancy JLL says Auckland placed second, behind Sydney, in its latest "investment intensity index" for the Asia-Pacific region.
The survey measures the amount of direct real estate investment compared to the economic size of the city over three years.
Tokyo, one of the world's biggest commercial real estate markets alongside New York and London, was fifth on the list.
Justin Kean, JLL New Zealand's head of research, said Auckland was punching above its weight to attract real estate investors.
"Some reasons for our appeal are our few government restrictions for foreigners buying assets and robust office pipeline that provides opportunities to buy grade-A assets."
Another major drawcard was the transparency of New Zealand's real estate market, due to its good market data, fair transaction process, and high standards of regulation, accounting and corporate governance.
One of Auckland's key attractions was its prime office buildings which were offering attractive yields of between 7 per cent and 8 per cent.
Kean said the Trans-Pacific Partnership Agreement would improve New Zealand's links with other regions and connect it with more investors.
By value, Tokyo topped the table for commercial real estate investment in Asia-Pacific, coming in at US$21.9 billion (NZ$32.5b), but this was only 8 per cent of its GDP, compared to Auckland which came in at 11.5 per cent.
The survey showed about US$1.7b was being poured into Auckland's commercial real estate market each year, placing it in 12th place for investment amounts.
Top 10 Asia-Pacific cities by investment value
6. Hong Kong
Source: JLL's Investment Intensity Index