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Yep, Singapore is apparently still the most expensive city in the world for the wealthy seeking a high quality of life
If you've ever joked that Singapore is just KL with extra tax, the world's elite would pretty much agree, and they consider it well worth the cost.
According to the Julius Baer Global Wealth and Lifestyle Report 2025, Singapore is the most expensive city in the world for high-net-worth individuals (HNWIs) to enjoy a luxurious lifestyle. For the third year in a row.
That means for those with at least USD 1 million in bankable assets, Singapore is the ultimate "live well, spend more" city.
Here's the full list of the world's 10 priciest cities to live lavishly:
1) Singapore
2) London
3) Hong Kong
4) Monaco
5) Zurich
6) Shanghai
7) Dubai
8) New York
9) Paris
10) Milan
Surprisingly, Singapore held onto the top spot despite having only a 0.2% increase in average prices, which means things were already expensive to begin with!
Here are some examples of items in Singapore that will cost you a fortune
Even though the average increase was mild, some key luxury lifestyle items saw pretty staggering jumps:
– Business class flights: Up 17%
– Private school fees: Up 12.1%
– Hotel suites: Up 10.3%
What's more, Singapore is officially the most expensive city in the world to own a car and to buy women's handbags. Sorry, girlies.
Despite being wallet-draining, Singapore's appeal isn't fading
According to the report, these are some of the top reasons why HNWIs continue to flock there:
– Political and economic stability
– Top-tier education and medical services
– World-class connectivity — ideal for frequent flyers and business tycoons
Find out how the rankings were calculated (aka rich-people math)
The Julius Baer rankings are based on two parts:
1) Lifestyle Index:
– A global price comparison of 20 items (11 goods and nine services) in 25 cities.
– Big-ticket items like property (20%) and cars (10%) carry heavy weight.
2) Lifestyle Survey:
– Interviews with 360 HNWIs across the globe.
– All respondents had at least USD 1 million in assets.
The data was collected between November 2024 and March 2025.
Asia Pacific's rich are planning to stay bougie and live longer
Due to two of the top three cities being in Asia (Singapore and Hong Kong), the Asia Pacific (APAC) region had the smallest average price decrease of all the regions surveyed.
But the rich in Asia aren't cutting back. They're spending and investing more, with 68% increasing their investments last year.
In fact, 100% of APAC HNWIs are actively taking steps to improve longevity, with 21% using gene therapy or cryogenic chambers. Oh, to be wealthy.
