New Delhi, Aug 3 - With the economic slowdown impacting consumer sentiments, the demand for retail rental space in Delhi has seen a 25 percent decline over six months, says a report by the global realty consultant CB Richard Ellis released Monday.

According to the report titled Global Retail MarketView, the demand for retail space has declined across the world as consumers cut back on spending and unemployment continued to rise in many countries.

'New Delhi in India saw a 25 percent decline in a six month period,' the report said.

'Emerging and less established markets have been most significantly affected. Buenos Aires saw the largest annual decline in retail rents year-on-year with a drop of 37 percent, followed by Warsaw with a 33 percent decline and Washington DC with a 26 percent decline.'

The CB Richard Ellis report said despite a 10 percent year-on-year rental decline, New York remained the world's most expensive retail destination, with rates averaging $1,800 per square feet per annum.