Overview:
- Singapore remains the most expensive city for living well, driven by high costs in cars and handbags, but continues to attract the wealthy due to its safety and infrastructure.
- London climbs back to second place, despite legislative changes affecting high-net-worth individuals, with strong appeal in business and lifestyle.
- Hong Kong ranks third, maintaining its allure through tax incentives and investment opportunities, though it slipped one spot from last year.
- Monaco secures fourth place, offering luxury and tax benefits, but faces challenges due to limited space and soaring real estate prices.
- Zurich rises to fifth, valued for its stability, low tax, and quality education, despite modest price changes across most index items.
Singapore has retained its position as the world’s most expensive city for luxury living, according to Julius Baer’s Global Wealth and Lifestyle Report. The city-state leads the ranking due to soaring prices in premium goods such as cars and designer handbags, reflecting its appeal to high-net-worth individuals. London and Hong Kong follow closely, with Monaco and Zurich rounding out the top five. The report highlights how global cities are adapting to shifting wealth patterns, with lifestyle costs rising amid economic and regulatory changes. This year’s findings underscore the resilience of luxury markets and the evolving preferences of the wealthy.
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Guest idea:
Jen-Ai Chua
Research Analyst
Julius Baer
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