Latest news with #GlobalWealth&LifestyleReport2025
Time Out
5 days ago
- Business
- Time Out
Revealed: Asia's most expensive cities to 'live well' in 2025
If you like living the high life but want to stretch your dollar, then this new list is a good guide for where not to go. According to the Julius Baer Group's Global Wealth & Lifestyle Report 2025, three cities in Asia have made it to a list of the top most expensive cities for 'living well'. The Julius Baer Lifestyle Index tracks the cost of living a high-net-worth lifestyle in 25 cities around the world. Some things it takes into consideration: residential property prices, private healthcare costs, business class flights, luxury goods, and even the cost of an MBA. This year, a survey of high-net-worth individuals adds insight into their habits and perspectives. So, the most expensive cities in Asia for high-fliers? Singapore, Hong Kong, and Shanghai. Singapore gets the (dubious) honour of being No. 1 on the list, and for the third year running too. It ranks first globally for the cost of cars (no thanks to the Certificate of Entitlement that must be purchased to own a car in Singapore) and women's handbags. So maybe get your Louis Vuitton goods somewhere else. Treadmills, on the other hand, are the most affordable index item to get in the country – all the better to work off those degustation dinners. Hong Kong is the third-most expensive city in the world for living well. It slipped one place compared to its ranking last year, losing its second-place spot to London. This is not a place where you want to get in trouble – lawyers are the city's costliest index item. But we guess you can drink your sorrows with endless bottles of champagne, its cheapest index item. Nevertheless, Hong Kong remains attractive to the wealthy thanks to its welcoming tax and investment environment, as well as its proximity to China. Finally, Shanghai, which slipped from No. 4 to No. 6 this year. According to the report, Shanghai's fall in the ranking could be due to cultural reasons – displays of wealth are increasingly frowned upon in China. Perhaps it's a good idea to keep it modest after all: individuals can expect to pay a hefty sum for fine dining meals, the priciest globally, and watches, which have seen a more than 11% increase in price over the last year. These are the top 10 most expensive cities for living well: Singapore London Hong Kong Monaco Zurich Shanghai Dubai New York Paris Milan
India.com
6 days ago
- Business
- India.com
Which is world's most expensive city? It is not Hong Kong, Dubai, London, New York, Paris, Milan; Bengaluru name is..., Mumbai also is in top 20
The Zurich-based Julius Baer Group published its most current rankings recently, stating that Singapore is the world's priciest city now. According to the Julius Baer Global Wealth & Lifestyle Report 2025, London has secured the second position in the top 10 global cities for living well. In India, Mumbai ranks 20th overall, making it the most expensive city in the country. Interestingly, Mumbai held the same position last year as well. Which is world's most expensive city? As per the Julius Baer Global Wealth and Lifestyle Report 2025, Singapore is the most expensive city to enjoy a luxurious lifestyle. The report evaluates the cost of living for High-Net-Worth individuals (HNWI) from 25 cities around the world. '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,' reads the statement on the official website. The Julius Baer Lifestyle Index survey is based on the living costs and luxury expenditure in 25 cities around the world. It considers living costs, which include housing, cars, business class flights, schooling, dining out, and anything else that can be labeled as 'premium lifestyle'. Of the top 20, eight of those cities are located in Asia, which include Singapore, Hong Kong (3rd), Shanghai (6th), Bangkok, Tokyo, Jakarta, Mumbai, and Manila. Although both Hong Kong and Shanghai dropped in the rankings this year, with Hong Kong dropping from 2nd last year and Shanghai dropped from 4th. The report states that people in Mumbai spend the most on air travel (42%) and dining in restaurants (44%), while only 12% of spend was on hotel stays and 9% was on luxury items. Approximately 13% of people in Asia travel in business class, while 9% usually spend money on watches and 8% on cycling. The report also emphasizes that the Asia-Pacific region is known as one of the fastest-growing places on the planet. Asia's projected figure of 47.5% of the world's new High-Net-Worth Individuals (HNWIs) between 2025 and 2028 are driven by the increased growth from China and India.
Time Out
6 days ago
- Lifestyle
- Time Out
Singapore named the most expensive city in the world to ‘live well' (again)
Singapore has topped yet another global ranking – and this one comes with a hefty price tag. According to the Julius Baer Group's Global Wealth & Lifestyle Report 2025, Singapore has been crowned the world's most expensive city to 'live well' for the third year in a row. The report's Lifestyle Index, which tracks the cost of luxury goods and premium services that define a high-net-worth lifestyle, places Singapore firmly at the top, beating out 24 other cities across the globe. Think swanky property, high-end cars, handbags that cost more than a condo down payment and private healthcare. Singapore ranked first globally for the price of cars and women's handbags, second in the world for the price of women's shoes and third for residential property and private healthcare. It ranked first globally for car prices and women's handbags, second for women's shoes, and third for both residential property and private healthcare. The only category where we came out cheapest? Treadmills. But if you're a fan of these running routes in Singapore, then maybe you don't need one. So what keeps the ultra-rich coming back despite the sky-high costs? According to the report, it's Singapore's political stability, low crime rate, world-class healthcare and efficient infrastructure that continue to attract high-flyers, billionaires and luxury-lovers alike. We are after all, home to the world's best airport and widely praised for its efficient public transport system. The 2025 edition of the report also notes how shifting global dynamics, from trade tensions to fluctuating consumer confidence, are influencing the spending habits of the world's wealthy. Want to see how the rest of the world stacks up? View the full report here. Top 10 most expensive cities for living well 1. Singapore 2. London 3. Hong Kong 4. Monaco 5. Zurich 6. Shanghai 7. Dubai 8. New York 9. Paris 10. Milan READ MORE *Scape gets a major glow-up and it's all about the next generation
