Singapore retains its title as the costliest metropolis for high-net-worth-individuals, in line with Julius Baer’s 2025 World Wealth and Way of life report.
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Singapore retained its prime spot as the costliest metropolis globally for high-net-worth people (HNWIs) for the third consecutive yr, in line with the 2025 Global Wealth and Lifestyle Report by Swiss financial institution Julius Baer.
The report relies on the Julius Baer Way of life Index, which seems on the relative value of a basket of 20 items and companies that prosperous shoppers throughout 25 main cities globally purchase and use resembling automobiles, jewellery, attorneys and personal faculties. It additionally contains information from a survey of 360 HNWIs (bankable family belongings of $1 million or extra).
The sixth version of the financial institution’s annual report comes amid world financial uncertainty, rising geopolitical tensions and a slowdown in client spending.
Information assortment for this research was accomplished earlier than the U.S. administration introduced its tariff plans, so the following market turmoil was not factored into this yr’s numbers, in line with the report.
Notably, the report recorded a 2% decline in U.S. greenback phrases for the price of a high-net-worth life-style. That is important as a result of “traditionally, high-end client costs have risen at twice the speed of common client costs,” the report mentioned.
The report added {that a} decline of multiple share level underscores the headwinds dealing with the high-end sector. “One of many largest drivers of this was a fall within the worth of know-how, which has decreased throughout all areas.”
In distinction, the worth for enterprise class flights and watches rose sharply by 18.2% and 5.6%, respectively, up to now yr, in line with the report.
In the end, spending nonetheless elevated globally among the many HNWIs who had been surveyed for the research, albeit at a lesser extent than in earlier years. Europe confirmed the slowest development in comparison with the Center East, Latin America, North America and the Asia-Pacific areas.
Listed here are the highest 10 costliest cities for high-net-worth people globally:
- Singapore
- London
- Hong Kong
- Monaco
- Zurich
- Shanghai
- Dubai
- New York
- Paris
- Milan
Huge movers
This yr, Europe made up 5 of the ten costliest locations for HNWIs to dwell with London main the group, rating second globally. London has constantly been a robust performer on the index.
“By way of the worldwide monetary disaster, Brexit, the Covid pandemic, and a conflict in Europe, it has all the time maintained a spot within the higher reaches,” in line with the report. That’s partly because of the metropolis’s standing as a world monetary hub that is fashionable and cosmopolitan with “historical past, liveability, tradition, and attraction.”
In the meantime, Dubai made a giant leap to seventh place from twelfth place final yr, largely attributable to rising property, automotive, and champagne costs, the report famous.
Shanghai, alternatively, dropped to the sixth place from the fourth, a steep tumble from its prime rating in 2022. And notably, there was just one American metropolis — New York — within the prime ten on the checklist.
The Asia-Pacific area topped the ranks, with Singapore and Hong Kong touchdown in two of the highest three positions for the costliest cities.
“Asia Pacific stays one of many fastest-growing areas globally. Actual GDP grew 4.5% yr on yr in 2024 – moderating barely from 5.1% in 2023 however nonetheless outpacing the worldwide common of three.3%,” mentioned analysis analyst at Julius Baer, Jen-Ai Chua.
“Agency fundamentals have set the stage for the speedy ascent of wealth within the area. The variety of high-net-worth people in Asia is projected to have grown 5% yr on yr to 855,000 in 2024,” Chua added.
Apparently, though Singapore maintained its prime place as the costliest metropolis for HNWIs, it nonetheless stays very livable. The nation is a number one selection for relocation and residency, in line with the report, on account of its steady political surroundings, general security and high quality healthcare and schooling.
The town-state can also be turning into a pioneer in wellness tourism, “opening a slew of therapeutic gardens to assist guests who’re serious about psychological wellness experiences,” the report mentioned. This comes amid a wider pattern of an elevated emphasis on longevity.
Longevity in focus
Almost the entire respondents had been serious about longevity and ageing properly, with between 87% (North America) and 100% (APAC) actively taking steps to extend their longevity. This ranges from life-style modifications like common train and good food plan to investing in issues like gene remedy and cryogenic chambers.
These high-net-worth people had been additionally involved with monetary longevity. “The overwhelming majority of respondents in all areas noticed a rise in general asset worth, and an analogous majority say they’d modify their wealth methods had been they to dwell ten years or extra longer than anticipated,” in line with the report.
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