A global survey reveals Singapore, Hong Kong, and Shanghai as Asia’s priciest cities for “living well” in 2025, with Singapore ranked the most expensive city worldwide for luxury living for a third consecutive year. The findings come from the Julius Baer Global Wealth & Lifestyle Report 2025 and highlight how luxury consumption patterns affect Thai travelers, investors, and residents seeking prestige with value.
The Julius Baer Lifestyle Index measures the cost of maintaining a high-net-worth lifestyle across 25 major cities. It considers prime property, private healthcare, luxury goods, business-class travel, and even the price of an international MBA. The 2025 edition blends objective price data with insights from affluent individuals about their priorities, offering a snapshot of global luxury aspirations and realities.
Singapore’s reputation for efficiency and cosmopolitan vibrancy helps explain its top ranking as Asia’s priciest city and the world’s costliest for luxury living. Drivers include high car ownership costs due to entitlement fees and the relative expense of luxury handbags. Yet the city-state also shows balance, with wellness items such as treadmills among the more affordable luxuries.
Hong Kong remains a close second in Asia and sixth globally. The city’s high business costs and legal fees push up luxury living expenses, but its strategic location near Mainland China and a pro-investment climate sustain appeal for wealthy residents. Even on price, certain luxury items like champagne stay comparatively attainable, offering some relief amid cost pressures.
Shanghai completes Asia’s top trio, ranking sixth globally but slipping from last year. Analysts point to changing attitudes toward conspicuous wealth in China and a move toward more discreet displays of affluence. Still, luxury dining and premium watches remain costly, underscoring Shanghai’s enduring role in global luxury branding as discretion grows.
Beyond these hubs, other top-ten cities include London, Monaco, Zurich, Dubai, New York, Paris, and Milan. The report notes a mix of established luxury capitals and growing markets in Southeast Asia and the Middle East, reflecting evolving global tastes and constraints.
For Thai readers considering relocation, property investment, or premium travel, the rankings offer both inspiration and practical guidance. Thai markets watch how rising costs in places like Singapore influence diversification toward other regional hubs that offer high-quality care, education, and lifestyle services. A Bangkok-based wealth adviser notes that while Bangkok remains comparatively affordable by regional standards, rising demand for luxury goods and services means Thai households are weighing international options alongside local offerings.
Culturally, the findings align with Thailand’s interest in status symbols—from premium vehicles and designer goods to superior overseas education. Thai audiences should assess budget, longevity, and social impact when evaluating luxury experiences. As global attitudes toward wealth evolve—evidenced by more discreet displays in Shanghai—the conversation in Thailand is shifting toward sustainable, meaningful choices rather than pure conspicuous consumption.
Looking ahead, rising costs in Singapore may prompt Southeast Asian high-net-worth individuals to explore alternatives within the region, including Kuala Lumpur, Ho Chi Minh City, or Bangkok itself. Such trends could spur investments in healthcare, education, and lifestyle infrastructure in Thailand. Experts caution that cities must balance luxury appeal with wider accessibility to avoid widening social divides.
For Thai readers, the takeaway is clear: use reputable indices to gauge true value, prioritize long-term quality of life, and align choices with personal goals. Track global trends alongside local market data, and consult trusted advisers to pursue a balanced, sustainable approach to an international lifestyle.