SINGAPORE no longer appears on the radar screen of most non-listed institutional investors and fund managers, according to the latest survey by Asian Real Estate Association (Area).

This year's hottest picks are China, Australia and Japan, said its Investment Intentions Asia Survey 2009.

The online survey of 73 organisations active in the Asian non-listed real estate funds market found that less than 20 per cent of funds managers and just 10 per cent of investors chose Singapore as their preferred investment location.

China is the most appealing location in terms of Asian performance prospects - it's the choice of 90 per cent of the investors and 81 per cent of the fund managers.

Japan was the top fund choice for fund of fund managers, firms that hold a portfolio of various investment funds, with 88 per cent of them opting for the country.

Australia, a new entrant, was also a firm favourite.

'With the exception of China, investors generally appear to have a lower regard than fund of funds managers or fund managers on the prospect of other Asian markets delivering target performances,' said the survey.

This year, Singapore did not figure at all in respondents' preferred locations and sectors in Asia.

In last year's survey, the Singapore office market was ranked seventh on the list of respondents' preferred locations and sectors in Asia - though fund of funds managers were already not keen.

The number of institutions interested in Singapore has certainly diminished due to the downturn, said Mr Craig Ward, director of regional capital markets at Savills Singapore.

Read the full report in Wednesday's edition of The Straits Times.