Julius Baer: Singapore remains world’s most expensive city; Hong Kong slips to third

Singapore has retained its position as the world’s most expensive city for a third consecutive year while Hong Kong slips to third, according to Julius Baer’s Global Wealth and Lifestyle Report 2025. 

In the report, London overtook Hong Kong to claim second place, followed by Monaco and Zurich.

Shanghai, which topped the ranking in 2022, dropped two spots to sixth. New York, ranked eighth, was the only city in the Americas to make the top 10.

The report cited Singapore’s political stability, public safety, and high-quality education and healthcare as key reasons it remains a top destination for high-net-worth individuals and companies.

Despite falling one place, Hong Kong remains one of the world’s most expensive cities to live in, the report noted.

STAFF REPORTER