The £50million-rated Colombian is one of the hottest properties in world football after scoring 17 La Liga goals so far this season to add to the 24 he netted in 2011/12.
Defending Premier League champions City, who are struggling for goals, have long been linked with Falcao as a result along with Real Madrid and Chelsea.
Falcao has three years left on his Atletico contract and has never made an indication of his desire to leave any time soon but a switch to England could be a possibility.
"I am only thinking about my club. I know there is a lot of speculation but hopefully it will not affect me," he is quoted as saying by Spanish newspaper AS at an appearance in Dubai.
"At this moment in time, my reality is Atletico Madrid and I am happy where I am. There will be another league in the future but I still have three years left on my contract with Atletico."
If any club were to attempt to sign Falcao either in January or the summer of 2013, they would expect to have to pay a top price for the 26-year-old.
Atletico general manager Miguel Angel Gil Marin could demand at least the £50m fee which is widely estimated and would be under no pressure to sell.
But City's billionaire owner, Sheikh Mansour, could afford to meet the fee and Falcao has not dismissed the possibility of moving to the Etihad Stadium in the future.
Asked whether he will be going to City, Falcao said: "You will have to talk to Miguel Angel Gil Marin."