Just two years ago, Singapore placed fifth behind cities like London and Taipei in the 2022 version of the annual report, which is now in its fifth year.
Singapore and Hong Kong are the most expensive cities for luxury goods like cars, fashion and residential properties; while Shanghai slipped two places to place fourth in this year’s edition of the Global Wealth and Lifestyle Report by Julius Baer, released June 25.
Singapore again took the top spot in the annual ranking, and is also the most expensive place in the world to own a car. Julius Baer says the city continues to attract the ultra-wealthy by maintaining its reputation for political and economic stability alongside a “pro-business environment”.
