Singapore Named Most Expensive City for Luxury Living

According to the Julius Baer Global Wealth and Lifestyle Report 2025, Singapore is the most expensive city for high-net-worth individuals seeking a luxury lifestyle. For the third consecutive year, Singapore remains in the top rankings due to its high quality of life, safety, and excellent infrastructure.

The report examines the costs of luxury items and services in 25 cities, including luxury real estate, first-class airline seats, designer handbags, designer watches, and private school tuition. It stated, “In Singapore, cars and handbags for women were among the most expensive.” This highlights Singapore’s growing emphasis on speed and style. Even a business-class airfare has increased by 14.5% compared to last year. 

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London ranked second, partly due to the high costs of LASIK eye surgery, private schooling, and MBA programs. Hong Kong moved from second to third, but remains attractive to the elites due to its favourable tax position and economic recovery. Dubai was a big winner, moving up to seventh from twelfth. 

Its advantageous tax situation, its real estate market, and residency options have fueled this increase. Other cities ranked in the top 10 included Monaco, New York, Paris, and Milan. All unique cities that have been historically attractive as elite destinations.