Julius Baer report: Singapore tops global wealth and lifestyle for 4th Year, HK drops to 4th place

World

2026.07.07 19:30

Julius Baer released its 'Global Wealth and Lifestyle Report 2026' today (July 7). Singapore ranked as the world's most expensive city for luxury living for the fourth consecutive year, while Switzerland's Zurich rose three places to second, and Monaco moved up one place to third. Hong Kong dropped one place from last year to fourth, marking its second consecutive year of decline.

The report noted that Hong Kong has surpassed Switzerland to become one of the world's largest cross-border wealth hubs. Along with Singapore, it forms a core axis in Asia's wealth network. With ongoing geopolitical risks, global capital continues to flow into regions with stable regulation and currencies, benefiting both Hong Kong and Singapore.

Legal Fees and MBA Tuition Most Expensive in the World

The Julius Baer Lifestyle Index tracks prices for 20 luxury goods and services across 25 global cities, including private school tuition, fine dining, healthcare, residential property, and cars. Data was collected in two rounds – Nov. 2025 and March 2026.

By breakdown, Hong Kong remains the most expensive city in the world for legal fees, and among the priciest for MBA tuition. For residential property, Hong Kong ranks second globally, behind only Monaco. Fine dining in Hong Kong is also pricey, ranking third globally, behind Shanghai in first and Paris in second.

The index analyzed 20 goods and services representing the maintenance of a high-end lifestyle across 25 cities worldwide.

Hong Kong Cheapest for Champagne and Jewellery

On the other hand, Hong Kong was the cheapest place to buy champagne and jewellery among the 25 cities surveyed. The report also stated that the average price of 20 luxury goods and services rose by 10.2% in US dollar terms. The two main drivers affecting the cost of high-end lifestyles were currency fluctuations and gold prices. Gold prices have doubled since 2024, directly pushing up prices for luxury items such as jewellery and watches, reinforcing their dual role as both luxury goods and stores of value in uncertain times.

Julius Baer Asia equity research analyst Jen-Ai Chua noted that developments in AI and semiconductors, wealth flows, and migration are fueling momentum in Singapore, Hong Kong, Shanghai, and Sydney. Asia's GDP is expected to grow by 4.5% this year, outpacing the global average of 2.9%, continuing to drive Asia as the world's fastest-growing region for wealth.

Global Wealth and Lifestyle Report (Top 10)