Singapore leads luxury spending list again
Singapore has retained its position as the world’s most expensive city for luxury spending for the fourth consecutive year, according to the 2026 Lifestyle Index released by Swiss wealth manager Julius Baer Group Ltd. The city-state held the top rank as prices for major luxury categories, including residential property, cars, watches and jewellery, continued to rise across global markets.
The ranking is based on US dollar price comparisons, which means currency strength also played a role in the final order. Singapore’s lead was supported by rising home and car prices, the two most heavily weighted categories in the index, along with the strength of the Singapore dollar. For wealthy residents and internationally mobile families, the findings show how stable and highly developed cities continue to attract demand even as costs climb.
Zurich and Monaco climb higher
Zurich secured second place, moving up three spots in the ranking and edging ahead of London. Julius Baer said the Swiss city’s rise was largely linked to the strength of the Swiss franc, which has benefited from Switzerland’s reputation for stability and its role as a safe-haven currency during uncertain periods. Monaco entered the top three for the first time since the survey began in 2020, reflecting its growing position as a high-cost destination for luxury living.
Hong Kong and London completed the top five. The index tracks 25 cities and measures the cost of 20 luxury goods and services, including residential property, cars, business-class flights, school fees, fine dining and other lifestyle expenses. The 2026 survey was based on interviews with 360 high-net-worth individuals, each with investable household assets of at least $1 million, conducted between February and March.
Stability drives demand in costly cities
Julius Baer’s report said uncertainty remains high in 2026, making stable cities and countries more attractive to wealthy individuals. Christian Gattiker, the group’s head of research, said the global environment remains complicated, reinforcing the appeal of places seen as secure and financially reliable.
Dubai slipped to 14th place in the latest ranking. Julius Baer said the move was mainly due to faster price increases in other cities rather than a broad decline in Dubai’s own luxury costs. The report also noted that conditions in the Middle East had changed since the data was collected before the Iran conflict, creating a more uncertain outlook for residents and globally mobile families.
