S'pore is world's most expensive city for high net worth people to 'live well': Report

Singapore is the world's most expensive city for rich people to "live well" — for the third year in a row.

London took second place, while Hong Kong came in third, according to an annual report by Swiss wealth manager Julius Baer Group.

It's "hard times" for providers of high-end goods and services, the head of research said in the report's foreword.

While the luxury sector faced a downturn in the winter of 2024 and 2025, Singapore managed to retain its title.

The report noted the nation's stable political situation, safe environment, and high-quality services, such as education.

"Despite the high cost of life in the Lion City, its status as an appealing place to reside is undimmed," the report noted.

Specific products

The country came out tops for a number of specific goods and services.

It was the world's most expensive city for two categories: cars, and women's handbags.

It took the second spot for women's shoes, and the third for residential properties and healthcare.

Interestingly, it was the world's least expensive city for treadmills, among cities tracked. (The most expensive was Mumbai).

Notably, several luxury goods and services in Singapore also saw significant price increases.

Business-class flights rose 17 per cent; private school fees 12.1 per cent; and hotel suites 10.3 per cent. Healthcare was down 35.8 per cent according to the report.

Nonetheless, "Singapore also remains one of the most liveable cities globally for its residents, and it is a very attractive option for those looking to relocate, despite high competition for prime residential properties", said the report.

Top image from Canva