12 Cities Where Luxury Real Estate Is Tanking

Mallorca

Knight Frank and Citi have released a report detailing the world’s wealth for 2010.

In it are details on what luxury property markets had a great 2009, and which ones crumbled.

We’ve got the losers right here, with the 12 markets most savaged.

Check out the 12 luxury property markets where prices are flopping >

Kiev: 16% loss in value in 2009

Chamonix: 17% loss in value in 2009

Gascony: 17% loss in value in 2009

Mallorca: 17% loss in value in 2009

Florence: 18% loss in value in 2009

Bordeaux: 18.1% loss in value in 2009

Dordogne: 19.5% loss in value in 2009

Barbados: 20% loss in value in 2009

Palma: 22% loss in value in 2009

Dublin: 25% loss in value in 2009

Western Algarve: 30% loss in value in 2009

Dubai: 45% loss in value in 2009

Now Check Out 10 Luxury Business Hotels That Will Make You Forget You're On Business

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