Real estate investors in Asia will be targeting a wider range of locations and property sectors outside the region in 2014, according to a report from Colliers International.

“Besides increasing global liquidity, the volume of outbound investments from Asia is being driven by both ‘pull’ and ‘push’ factors,” says Piers Brunner, CEO, Asia, at Colliers International.

The pull factors that Brunner describes include higher yields in gateway cities in the United States, Europe and Australia, as well as the growth potential of property in these areas.

For the push factors, he says that governments in Hong Kong and Singapore are expected to keep existing local real estate cooling measures in place in 2014. Additionally, he sees a relaxation of government policies around overseas real estate investments in Asian countries.

Terence Tang, managing director of capital markets and investment services of Asia at Colliers International, indicated that Chinese investments in property beyond Asian have greatly increased since 2009, reaching $9 billion U.S. in 2013.

“We believe more Chinese developers will look overseas to support the needs of their local clientele,” Tang says. “We think the world’s ‘gateway’ cities will see a quantum leap in real estate purchases by Chinese buyers in 2014.”

The report suggests that South Korea will also see growth in the coming year. In 2013, the country’s annual volume of outbound property investments increased by more than half.