Mumbai shows negative growth in the Residential Sector

The Knight Frank Prime Global Cities Index established in 2011 is the definitive means for investors and developers to monitor and compare the performance of prime sales markets across key global cities.

- The index recorded its first quarterly fall since 2009 with prices falling on average by 0.4% in Q1 2012
- Overall, the index rose 1.4% in the 12 months to March 2012
- Mumbai's Residential Market shows a negative growth of -9.1% from March 2011 - March 2012
- Prime markets in North America performed strongly, prices increased by 7.7% on average in the last 12 months
- Nairobi (up 24%) was the strongest performer in the last 12 months
- Prices in Dubai (up 4%) rose the most in the last 3 months

The value of prime property in the world's key cities fell by 0.4% in the first quarter of 2012. This represents the index's first quarterly fall since the depths of the global recession.

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