Singapore tops the 2025 Julius Baer Lifestyle Index as the world’s most expensive city for luxury spending, followed by London and Hong Kong. The report analyses high-end spending habits of the ultra-wealthy, with rising costs driven by inflation and global economic shifts. New York, Zurich, Monaco, and Shanghai also feature among the top 10 luxury cities.
If your idea of a good time involves designer shopping sprees, Michelin-star meals, and the occasional diamond-studded indulgence, then you might want to check your bank balance before booking a flight to Singapore. In the ever-shifting game of global luxury, where cities compete not for affordability but for extravagance, Singapore has once again snagged the crown as the most expensive city in the world for luxury living. And this isn’t a one-time fluke — the city has now topped Julius Baer’s Global Wealth and Lifestyle Report for the third consecutive year. That’s three years of unrivalled opulence, where a pair of designer heels could set you back more than your rent, and a wellness retreat might cost as much as a small car.
But hold onto your tailored suits — there’s a twist in this year’s rankings. London, with all its rainy charm and understated elegance, has leapfrogged past Hong Kong to claim the second spot. Yes, the British capital has become dearer than ever for those looking to live lavishly. And let’s just say it’s not the cups of tea or black cabs that are pushing prices skyward.
The rankings come courtesy of Swiss private bank Julius Baer, whose annual Global Wealth and Lifestyle Index doesn’t just look at your typical cost-of-living metrics. Instead, it crunches the numbers on the lifestyle choices of high-net-worth individuals (HNWIs) — think private schooling, Botox, fine wine, luxury handbags, and yachts. In other words, it’s a peek into the spending habits of the 1% of the 1%.
