Singapore has been named the world's most expensive city for high-net-worth individuals (HNWIs) for the fourth consecutive year, according to the Julius Baer Global Wealth and Lifestyle Report 2026. The annual study, which tracks the cost of a premium lifestyle across 25 global cities, highlights that the city-state remains a primary destination for the wealthy due to its political stability, strong rule of law, and secure environment for long-term capital preservation.
The report's index measures the cost of a basket of 20 luxury goods and services, including residential property, cars, private school fees, and fine dining. Singapore’s top ranking is primarily driven by the high costs of residential real estate and vehicle ownership, which carry the heaviest weightings in the index. Additionally, the strength of the Singapore dollar against the US dollar has contributed to the city's high price tag when measured in international terms.
Asia-Pacific cities continue to dominate the global rankings, with five cities appearing in the top 10. Alongside Singapore, Hong Kong ranked 4th, Shanghai 6th, Sydney 8th, and Bangkok 10th. This regional concentration reflects the ongoing economic growth and wealth accumulation within the Asia-Pacific region, even as global luxury prices have risen by an average of 10.2% over the past year due to higher input costs and currency fluctuations.
While the index underscores the high cost of luxury living, analysts note that it does not reflect the cost of living for the average resident. The report serves as a barometer for globally mobile individuals assessing where to allocate assets and maintain a premium lifestyle. As geopolitical uncertainty remains a significant concern for the wealthy, cities like Singapore are increasingly valued as safe havens for financial planning and asset diversification.