"People are still hesitant about the next 12 months, and have indicated they will take a wait-and-see approach to investing" Colliers International national director research, Nerida Conisbee said.
"A total of 70 per cent indicated that they were unlikely or not at all likely to take risks to achieve superior returns."
Despite current sentiment remaining negative, investors were looking long term, with 66 per cent of Australian and New Zealand respondents believing that now was a good time to invest in commercial property.
"Australian investors have been more negative than positive over the last six months, but going forward they are beginning to show signs of increased optimism," Colliers International national director James Quigley said.
"Most respondents expect to see a little improvement, but not much, in the immediate future, with conditions expected to improve in the longer term."
Few investors believed there had been improvement in market conditions over the last six months with 84 per cent stating that conditions had either declined or stayed the same.
Consistent with last year's outlook, raising new equity remained the top concern for investors looking to expand their portfolios.
Despite uncertain economic conditions, a majority of investors across the globe were looking to expand their portfolios over the next 12 months.
"One of surprises is that Europe, Middle East and Africa region is one of the most confident regions, in terms of outlook, expecting improving conditions over next 6-12 months. They seem to think they're over the worst," Ms Conisbee said.
"Investors across the board are firmly in expansion mode, even those who are negative in their outlook are still looking to expand."
