By Faiza Virani
Singapore and London are the top cities globally for wealthy individuals, according to The 2025 Global Wealth & Lifestyle Report published by Swiss wealth manager Julius Baer Group Ltd. on Monday. Dubai was named the 7th most-expensive city, ahead of New York, Paris and Milan.
The Julius Baer Lifestyle Index analyses the cost of a basket of goods and services representative of ‘living well’ in 25 cities around the world. This provides an overview of the relative cost of maintaining a high-net-worth lifestyle in these various major urban centres.
Hong Kong came in third place, followed by Monaco and Zurich. Bangkok and Tokyo made the biggest jumps, climbing six positions to become the 11th and 17th most expensive cities respectively.
Singapore retains title as the world’s most expensive city for second year in a row
The luxury sector faced a downturn in 2024/25 due to various economic challenges, including high interest rates and geopolitical tensions, with notable shift in consumer spending patte