MUMBAI: Prime residential property in Mumbai is the 10th costliest in the world at Rs 61,300 a square foot. This is more expensive than Dubai where the average price of prime residential is Rs 40,455 a sq ft, according to the Knight Frank Wealth Report 2015.Monaco heads the list with a per square foot cost of Rs 3.39 lakh. The five global prime residential hotspots are London, New York, Cape Town, Dubai and Hong Kong.In London’s St John Street, Clerkwell, a 700 sq ft apartment could cost $1.3 million. A 1,500-sq-ft apartment in West Street, Manhattan, could be had for $2.7 million while a 700-sq-ft flat in Hong Kong’s Sai Ying Pun neighbourhood could fetch $1.9 million.“According to our latest Attitudes Survey results, the ultra high net worth individuals’ appetite for property as investment remains undimmed. Falling oil prices should free up more capital to be spent on consumer goods, which should in turn present more property opportunities to feed the increasingly hungry private investor,’’ said the report.