Hong Kong (CNN) -- Forget the red-hot property market of mainland China -- a new forecast says investors should be looking south. Jakarta -- Indonesia's burgeoning capital of nearly 10 million people -- is predicted to be Asia's top real estate market in 2013, ahead of cities such as Hong Kong, Singapore and Sydney in "Emerging Trends in Real Estate -- Asia Pacific 2013," a real estate forecast released this week by PriceWaterhouseCoopers and the Washington D.C.-based Urban Land Institute. The recommendation to buy into Jakarta-based property may raise eyebrows, but PriceWatershouseCoopers says Indonesia's economic turnaround over the past few years has impressed international investors.
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Indonesia's capital Jakarta is predicted to be Asia's top real estate market in 2013
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With increasing GDP and foreign investment, Jakarta jumped up 10 places since 2011
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Singapore got bumped to third place, from first place last year
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Japan's Osaka is the forecast's lowest-ranked city for real estate investment next year
China
The PwC survey says the city's retail property sector is heating up as investors shift away from the commercial sector, traditionally "the bread-and-butter investment for foreign funds in @placeholder for many years."