Singapore has maintained its position as the world's most expensive city for high-net-worth individuals (HNWIs) for the fourth consecutive year, according to the latest Julius Baer Global Wealth and Lifestyle Report 2026. The report highlights that Asia-Pacific cities have strengthened their presence in the rankings, with five cities from the region now in the global top 10. Hong Kong ranks fourth, Shanghai sixth, Sydney eighth, and Bangkok tenth. Globally, Singapore leads ahead of Zurich and Monaco, which placed second and third, respectively.
The Republic's continued lead is attributed to the high cost of residential property and cars—two items that carry the heaviest weightings in Julius Baer's Lifestyle Index—as well as the strength of the Singapore dollar. Singapore ranked as the world's most expensive city for cars and placed third globally for residential property. The report notes, "The strong currency, alongside a stable political system and resilient economy, reflect the relative stability and appeal of Singapore in an uncertain world."
Several Asia-Pacific cities also ranked among the most expensive globally for other goods and services. Hong Kong was the most expensive city for legal services, while Shanghai topped the ranking for fine dining. The Asia-Pacific region has also become the most expensive for obtaining an MBA.
The growing dominance of Asia-Pacific cities in the rankings coincides with the region's continued economic outperformance. Julius Baer expects the regional gross domestic product to grow 4.5% in 2026, well above the global average of 2.9%. The report points out that technology-driven cities appear to be pulling ahead, while markets more reliant on traditional industries are changing more gradually.
Despite the high costs, Singapore remains attractive to HNWIs and businesses due to its stable political climate, safety, and quality services, including education and healthcare. The report states, "With the current unpredictable nature of the world, Singapore is valued for its stability, security, and connection to Asia and beyond."
In terms of lifestyle spending, HNWIs in the Asia-Pacific region reported some of the biggest jumps, outpacing all regions in high-end women's clothes, hotels, and fine dining. Notably, 80% of them reported increased assets over the past year. The report also highlights that health-related expenditure was one of only two categories to rise across all regions globally, alongside leisure travel, reinforcing the view that "health is the new wealth." In Asia-Pacific, 58% of respondents planned to increase spending on healthcare over the next 12 months, compared with 33% in Europe and 40% in North America.
The report also notes that despite the high costs, Singapore remains attractive to HNWIs and businesses due to its stable political climate, safety, and quality services, including education and healthcare. The report states, "With the current unpredictable nature of the world, Singapore is valued for its stability, security, and connection to Asia and beyond."
In conclusion, Singapore's position as the most expensive city for HNWIs underscores its appeal as a global hub for wealth and luxury spending. Its stable political environment, resilient economy, and strong currency continue to attract high-net-worth individuals seeking a secure and prosperous lifestyle.