Singapore Wealthy Residents Face World's Highest Living Costs

Singapore wealthy individuals continue to face the world's highest cost of living, with the city retaining its position as the most expensive location globally for high-net-worth individuals for a fourth consecutive year, according to Julius Baer's latest Global Wealth and Lifestyle Report.

The Swiss private bank ranked Singapore ahead of Zurich and Monaco, while Hong Kong placed fourth, Shanghai sixth, Sydney eighth and Bangkok tenth.

Asia-Pacific cities accounted for five of the global top 10, up from three a year earlier, reflecting the region's growing concentration of wealth.

Julius Baer said Singapore ranked as the world's most expensive city for purchasing cars and third for residential property, supported by the strength of the Singapore dollar, political stability and a resilient economy.

These factors continue to reinforce Singapore's appeal among globally mobile wealthy families despite its high cost of living, strengthening its position as a leading international wealth management hub.