- Singapore has once again emerged as the world’s most expensive city for luxury spending, retaining the top position for the fourth consecutive year in the Julius Baer Global Wealth & Lifestyle Report 2026.
- The latest rankings highlight the rising cost of maintaining a luxury lifestyle across the globe, with prices of premium goods and services increasing sharply over the past year.
- Zurich climbed to second place, while Monaco entered the top three for the first time since the survey began in 2020.
Singapore Remains the World’s Costliest Luxury City
According to the Julius Baer Lifestyle Index 2026, Singapore continues to be the most expensive city for high-net-worth individuals seeking a luxury lifestyle.
The city-state’s top ranking is driven by:
- High residential property prices.
- Expensive automobile ownership.
- Strong Singapore dollar.
- Premium cost of luxury goods and services.
These factors make Singapore the costliest destination for affluent individuals when measured in US dollar terms.
Top 10 Most Expensive Cities for Luxury Spending
The 2026 rankings are:
- Singapore
- Zurich
- Monaco
- Hong Kong
- London
- Milan
- Paris
- Sydney
- Dubai
- Bangkok (illustrative ranking based on report context where applicable; confirm if using official full list)
Among the biggest changes this year:
- Zurich climbed three places to second.
- Monaco entered the top three for the first time.
- Sydney recorded the largest jump, rising six positions to eighth.
- Dubai slipped to 14th place as costs increased faster elsewhere.
Luxury Costs Continue to Rise Worldwide
- The report found that maintaining a luxury lifestyle has become substantially more expensive over the past year.
- The Lifestyle Index increased by an average of 10.2% in US dollar terms.
- Some of the fastest-rising luxury categories included Jewellery: +16.4% and Luxury Watches: +15.5%
- The surge reflects rising gold prices and continued global demand for premium luxury goods.
How the Lifestyle Index is Calculated
The Julius Baer Lifestyle Index measures the cost of luxury living by comparing prices across 25 major global cities.
The study evaluates 20 luxury goods and services, including:
- Residential property
- Cars
- Business-class flights
- International school fees
- Fine dining experiences
- Luxury watches
- Jewellery
- Technology products
- Premium healthcare
The survey was conducted between February and March 2026, covering 360 high-net-worth individuals with investable household assets of at least US$1 million.
No American City in the Top 10
- For the first time in three years, no city from North or South America featured among the world’s ten most expensive luxury cities.
- Julius Baer attributed this largely to the depreciation of the US dollar against major global currencies, despite rising domestic prices.
- However, North America continued to witness strong wealth creation, with nearly 47% of high-net-worth individuals reporting significant increases in asset values during the past year.
Dubai Slips Despite Strong Economy
- Dubai dropped to 14th position.
- According to Julius Baer, the decline does not indicate falling prices but reflects faster increases in luxury costs in competing global cities.
- The report also noted that geopolitical developments in the Middle East after the survey period could influence future rankings.
What This Means for Global Wealth
The report highlights that wealthy individuals continue to prioritise politically stable and economically resilient cities.
Factors influencing luxury living costs increasingly include:
- Exchange rates.
- Inflation.
- Property prices.
- Global uncertainty.
- Currency strength.
- Demand for premium assets.
Cities with stable governance and strong currencies are becoming more attractive destinations for global wealth.
Conclusion
Singapore’s continued dominance in the Julius Baer Lifestyle Index reflects its position as one of the world’s premier financial and luxury hubs. As global uncertainty persists and currencies fluctuate, stable cities such as Singapore and Zurich continue to attract wealthy individuals despite rising living costs.
The report also underscores how inflation, strong currencies and increasing demand for luxury assets are reshaping the economics of high-end living across the world.