With decline in rentals, Mumbai has become lesser expensive for office space, but remains at the sixth position among the world's costliest office markets, a report has said.

According to a report on global trends of office spaces by real estate consultant CB Richard Ellis, Mumbai fell to 6th position from 5th in the list of the world's most expensive office markets, which is topped by Tokyo.

'This ranking highlights the decrease in rentals we have witnessed in the last six months due to a reduction in demand, ' said Anshuman Magazine, chairman and managing director of the consultancy's South Asia operations.

Times of India