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Singapore keeps its title to the most expensive city for individual people with a high network, reports Global Wealth and Lifestyle Report Julius Baer 2025.
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Singapore has kept its first place as the most expensive city all over the world for people with high value (HNWI) third year 2025. Global report on wealth and lifestyle Swiss Bank Julius Bayer.
The report is based on the Julius Bayer Life Index, which examines the relative cost of the basket of 20 goods and services that wealthy consumers in 25 major cities in the world buy and use such as cars, jewelry, lawyers and private schools. It also includes a 360 HNWI survey (banal home assets in $ 1 million or more).
The sixth edition The annual bank report comes against the background of global economic uncertainty, growth of geopolitical tensions and slowing consumer expenses.
The data collection for this study was completed before the US administration announced its tariff plans, so the following market shocks were not taken into account this year, the statement said.
In particular, the report recorded a decline in the US dollar by 2% due to a high network lifestyle. This is significantly, because “historically, high -class consumer prices have doubled than average consumer prices,” the report said.
The report added that the reduction of more than one percentage point emphasizes the wind facing the high -end sector. “One of the biggest drivers of this was the fall in technology prices that has fallen in all regions.”
Unlike this, last year the price of business -class flights and hours increased by 18.2% and 5.6% respectively.
Ultimately, costs have increased globally among HNWI, which were interviewed for the study, albeit, to a lesser extent than in previous years. Europe has shown the slowest growth compared to the Middle East, Latin America, North America and Asia Pacific.
Here are the top 10 most expensive cities for people with high network worldwide:
- Singapore
- London
- Hong Kong
- Monaco
- Ferrich
- Shanghai
- Oak
- New York
- Paris
- Milan
Big engines
This year, Europe has made five of the ten most expensive places for HNWI to live with London leading the group, ranking second in the world. London was consistently a strong performer on the index.
“Thanks to the global financial crisis, Brexit, Covid Pandemy and the war in Europe, it has always supported the place in the upper achievements,” the statement said. This is partly due to the status of the city as a modern financial center, which is modern and cosmopolitan with “history, housing, culture and charm”.
Meanwhile, last year Dubai made a large jump in the seventh place from the 12th place, largely related to the growth of property, cars and champagne prices, the report notes.
Shanghai, on the contrary, dropped to the sixth position from the fourth, steep hike from the upper ranking in 2022. And, in particular, there was only one American city – New York.
The Asia-Pacific region headed the ranks when Singapore and Hong Kong landed on the top three positions for the most expensive cities.
“The Asia-Pacific Ocean remains one of the fastest growing regions worldwide. Real GDP increased by 4.5% compared to the year 2024, not significantly moderating with 5.1% in 2023, but still exceeded an average of 3.3%,” said the analyst at Dzhulius Bayer.
“The basic foundations created the basis of rapid rise in the region. The number of people with a high network in Asia is expected to grow by 5% a year to 855,000 in 2024,” Chu added.
Interestingly, despite the fact that Singapore has maintained its main position as the most expensive city for HNWI, it remains very convenient. According to the report, in connection with the sustainable political environment, general security and quality of health and education, the country is a leading choice for resettlement and residence.
The city-state also becomes a pioneer in wellness tourism, “opening many therapeutic gardens to help visitors interested in mental wellness experience,” the statement said. This happens against the background of a broader tendency to increase the focus on longevity.
Longevity in focus
Almost all respondents were interested in durability and aging, with 87% (North America) and 100% (APAC) actively take action to increase their longevity. It varies from lifestyle like regular exercise and a good diet to invest in things such as gene therapy and cryogenic cameras.
These people with high value were also concerned with financial longevity. “The vast majority of respondents in all regions have an increase in the total value of the assets, and the similar majority claims that they will adjust their wealth if they live for ten years or more,” the report said.
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