Mumbai Residential Rates fell around 10% in FY: 2011- 2012

Mumbai's home prices, which is the least affrodable in the world as per a recent international survey conducted by Knight Frank, had fallen 9.1% between March 2011 and March 2012, which was one of the highest decline among world's top cities, according to a new study by global property consultancy Knight Frank.

Australia Capital Sydney, which saw a fall of 9%, and Kuala Lumpur, where prices fell 8.8%, are the other cities which have seen similar fall in property prices, says the Knight Frank Prime Global Cities Index. 

Nairobi, Jakarta and Miami are the cities which saw an increase of 24.2%, 14.3% and 13.9% in home prices respectively.

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