San Francisco is the #1 destination for foreign investors, according to Colliers International.

According to a Forbes analysis of Colliers International’s Global Investor Outlook 2016 survey, 94% of international real estate investors will be placing their money into U.S. real estate this year, head and shoulders above any other country’s results. Based on the responses to the survey, Forbes has listed the ten U.S. cities in which there is the most investor interest, domestic and foreign alike.

San Francisco ranked at the top of the list among the survey respondents, with 27% of surveyed investors saying that it is their top investment choice, and 10% making it as a second choice. New York City came in second, as the first choice among 24% of respondents, and Los Angeles came in third as the first choice among 22% of respondents. New York in particular has gathered over $4 billion in global capital in Q3 2015 alone.

Commercial properties are of more interest to investors than residential properties in the survey’s top three cities, according to Colliers.

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