The Ecuadorian striker, deemed surplus to requirements at Eastlands, has spent the season on loan at La Liga strugglers Levante.
And he believes that his future lies away from Eastern Spain and at a team capable of delivering success.
“I have ambitions and the desire to go to a club which is fighting to win titles, but I am happy here at Levante, I feel very comfortable," he told reporters.
"Levante are happy with me and are keen to invoke my buy-out clause [of one million euro] so we’ll have to wait and see what happens.”
Caicedo’s goal-scoring form, which has seen him net nine times already during his loan spell, has seen Levante make a surge up the table.
Despite seeing a three-game winning run ended by Real Madrid, the forward believes his current side have enough quality to avoid the drop.
“If we play with the same spirit as today then we’ll stay up,” he said.
Caicedo, 22, has made 27 league appearances for Manchester City, scoring four times, since arriving for £5.2 million from Basel in January 2008.
However, he has not made an appearance for Roberto Mancini's side since May 2009.
By Paul Wentworth
