According to new research by JLL (NYSE: JLL), total direct real estate investment reached just over US$700 billion in 2015 -- on par with the 2014 levels -- with further modest expansion predicted for 2016. Institutional investors continue to allocate significant capital to real estate, and they are broadening their investment to include segments such as student housing, healthcare and the private rented residential sector in markets outside the U.S.

As business and political leaders convene to discuss global issues at the World Economic Forum annual meeting in Davos, Switzerland, it is clear that real estate has established itself as a key driver of economic growth in both established and emerging cities across the globe. The top 30 cities accounted for nearly half of total global real estate investment in 2015.

According to Colin Dyer, CEO of JLL: "As we mark another year of robust commercial real estate investment, we are optimistic the market is still on track to average US$1 trillion per year by the early 2020s. While the 'Big 6' cities of New York, London, Tokyo, Paris, Hong Kong and Singapore will continue to lead in terms of transactional activity, we anticipate more cities will become investible and challenge the 'Big 6.'"

The research from JLL identifies several trends in city investment:

To read more of JLL's research on capital flow and city trends, visit www.jll.com/cities-research.

About JLL JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.