World’s Most Luxurious City: If living well is an art, then Singapore is the canvas where luxury is painted in the boldest strokes. According to the Julius Baer Global Wealth and Lifestyle Report 2025, Singapore is now the most expensive city in the world for a luxurious lifestyle, ranking first among 25 global cities. The report gives a glimpse into what it really takes to live life “king-size” — and spoiler alert: it comes with a serious price tag.
This is the third time in a row that the Lion City has topped the list, reaffirming its position as the ultimate destination for high-net-worth individuals (HNWIs) looking to indulge in the best that life has to offer.
What Makes a City “Luxurious”?
The Julius Baer report doesn’t just rank cities based on rent or general cost of living. Instead, it takes a broader look at the lifestyle of the world’s wealthy. This includes the cost of goods and services that represent premium living — like high-end real estate, business-class flights, luxury vacations, designer clothes and handbags, fine dining, private schooling, treadmills, legal fees, and even MBA programs.
Think of everything that defines a luxe-coded lifestyle — wine, jets, exclusive holidays, and yes, even a Birkin bag — and you’ve got the essence of the report’s “Living Well” Index.
Why Singapore Leads the Pack
Singapore isn’t just a city — it’s a lifestyle destination. Clean, efficient, safe, and filled with world-class infrastructure, Singapore ticks all the boxes for those who want to live well, securely, and stylishly.
One of the major reasons it’s remained on top is the post-pandemic population growth, largely driven by non-residents and global investors. Programs like the Global Investor Programme have attracted a wave of affluent newcomers who want access to Singapore’s quality of life, strategic location, and economic stability.
Cars and women’s handbags are the most expensive index items in Singapore this year, proving once again that both speed and style come at a high cost in this city-state.
Additionally, the cost of business-class flights from Singapore rose by 14.5% in just the past year — indicating how travel for the wealthy has become pricier, even in a highly connected hub like Singapore.
London Holds Second Place — But Not Far Behind
The British capital London has climbed to the second position in the list of the world’s most luxurious cities. With its rich blend of history, prestige, and modern-day glam, it’s no surprise that London appeals to the global elite.
In terms of index items, London sees some of the highest costs in LASIK surgeries, MBA programs, and private education, making it a city where even better vision and smarter minds come at a premium.
Additionally, business-class flight prices in London also witnessed an uptick — further driving up the cost of luxury for those who frequent skies as often as sidewalks.
Hong Kong Slips to Third, But Still Holds Strong
Hong Kong, which previously ranked higher, has slipped to the third position this year. However, that doesn’t mean its luxury appeal is fading. On the contrary, the city’s investment climate, tax incentives, and location in Asia continue to attract wealthy individuals and investors.
The report notes that Hong Kong was slower to recover from the pandemic compared to other cities. Still, it’s now seeing a return to strong economic growth, boosted by higher tourism receipts and a surge in goods exports.
Despite the temporary dip, Hong Kong remains a heavyweight in the luxury lifestyle world.
Dubai’s Meteoric Rise — From 12th to 7th in One Year
When you think luxury, Dubai is often top of mind. And the report agrees. Dubai jumped five spots this year, landing in seventh place, thanks to its low personal taxation, booming real estate, and business-friendly environment.
From glitzy cars to golden visas, Dubai is no longer just about the Burj Khalifa and desert safaris. It has become a hub for global entrepreneurs, influencers, and wealthy expats, all seeking a life that’s equal parts lavish and tax-efficient.
This rise shows just how quickly a city can climb the ladder in the luxury lifestyle hierarchy when the environment is geared toward wealth creation and comfort.
Other Cities That Made the Top 10
Besides Singapore, London, Hong Kong, and Dubai, the other cities rounding out the top 10 include:
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Shanghai – Rising fast as China’s global luxury capital.
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Monaco – The eternal playground for the ultra-rich.
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Zurich – Swiss precision meets elite lifestyle.
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New York – The American dream, still strong and expensive.
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Paris & Milan – The global fashion capitals with high design and even higher prices.
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São Paulo – A surprising yet strong presence in the luxury index, especially in South America.
Each of these cities brings a unique mix of culture, opportunity, and exclusivity that appeals to high-net-worth individuals globally.
The Changing Face of Global Luxury Living
Christian Gattiker-Ericsson, Head of Research at Julius Baer, commented that this year’s report still reflects “moments of the ‘old’ situation” — particularly the time before President Donald Trump’s new tariffs, which are expected to influence global financial markets significantly going forward.
As geopolitical tensions rise and trade policies shift, luxury markets will continue to evolve. The upcoming economic climate, interest rate trends, and supply chain issues will likely reshape how and where the world’s wealthy choose to live.
The next edition of the report is eagerly awaited, as it is expected to highlight how these emerging macroeconomic and political shifts affect global luxury living.
What This Means for You (Even If You’re Not a Millionaire)
While most people may not fly private jets or stock up on Birkin bags, the luxury lifestyle index reveals global trends that eventually trickle down to broader markets.
For instance:
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Rising flight prices can affect holiday travel for all tiers.
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High real estate costs in cities like Singapore or Dubai can influence investment decisions.
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Increased demand for luxury education or health services can impact costs and accessibility across the board.
Understanding how the world’s wealthiest live helps forecast economic direction — and gives insights into which cities are thriving, not just financially, but in overall lifestyle quality.
Luxury Living Redefined
The Julius Baer Global Wealth and Lifestyle Report 2025 paints a vivid picture of what it means to live luxuriously today. It’s not just about having money — it’s about where and how that money can buy you peace of mind, prestige, and premium experiences.
Singapore, with its unmatched blend of quality, safety, and sophistication, has once again shown that luxury isn’t just about splurging — it’s a way of life. As cities compete to attract the world’s elite, the cost of “living well” continues to rise, making these lifestyle rankings not just interesting, but essential to understanding global wealth trends.
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