Boston will be second only to one other American city in terms of investor demand for real estate assets, according to the Urban Land Institute’s 2020 forecast.

Austin is ranked first out of 80 cities in the U.S. for overall real estate prospects for 2020, followed by Raleigh/Durham, Nashville, Charlotte and Boston in ULI’s “Emerging Trends in Real Estate 2020” report. The report was co-published with accounting and consulting firm PwC.

“Throughout this period of extended economic growth, real estate development has been dominated by creative mixed-use projects that have revived many urban areas,” ULI Global Chairman W. Edward Walter said in a statement. “Going forward, those who continue to innovate with spaces that can be easily be repurposed as cities evolve will have a competitive edge. Staying ahead of change means being flexible and adaptable.”

“Even though we are late in the expansion cycle, volatility in global financial markets, coupled with global geopolitical instability continues to drive investors towards U.S. real estate.  The asset class remains desirable as investors seek predictable cash flows from tangible investments,” PwC Partner Mitch Roschelle said in a statement.

Greater Boston’s economic strengths and the structural advantages conveyed by its many strong colleges and universities  “drew 2.9 percent of U.S. transaction volume over the past three years and 3.1 percent in early 2019, led by offices and multifamily,” the report noted.

Despite the city’s well-known transportation and housing troubles, the local market watchers and participants ULI surveyed for the report do not expect them to be a drag on future investment. However, the report ranked Boston 40th on a list of 80 cities for homebuilding prospects.