Singapore has once again been named the most expensive city in the world to live well, according to the Global Wealth and Lifestyle Report 2025 released by Swiss private bank Julius Baer. This is the second year in a row that the city has topped the list, which ranks global cities based on the cost of maintaining a high-quality lifestyle.

The report looks at the cost of enjoying a comfortable, high-end lifestyle in major cities — including prices of housing, cars, dining, health services, and other luxuries. It shows how changing spending habits, rising prices, and shifting wealth are shaping the world’s top cities for the wealthy.

Hong Kong has climbed back to second place this year, while London has moved up to third. The rest of the top 10 includes Shanghai, Monaco, Dubai, New York, Paris, São Paulo, and Milan.

With five cities in the top 10, Asia continues to dominate the rankings, highlighting the region’s growing influence in global wealth and luxury markets. Dubai’s steady rise reflects its growing appeal among high-net-worth individuals, and São Paulo’s jump from 18th to 9th place shows how rising local costs are changing the global luxury map.

The report also notes that while luxury homes and cars still cost a lot, many wealthy people are now spending more on experiences  like travel, fine dining, and wellness  rather than just expensive goods.

This year’s findings also reflect changes in spending on healthcare. The cost of a hospital stay increased by 20 percent globally. Education costs, including international school fees, also saw a noticeable rise. Julius Baer also found that personal trainers and fitness club memberships are among the few luxury services where prices stayed relatively stable across regions.