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Singapore Is the Priciest City for Luxury Living, a New Report Says

SINGAPORE, JUL 14 – Singapore leads luxury spending globally for the third year, driven by rising prices in business class flights and private education, despite a 2% global luxury price decline, Julius Baer reported.

  • Singapore remains the most expensive city in the world for luxury spending, as reported for three consecutive years by Julius Baer Group Ltd.
  • London has surpassed Hong Kong to take second place in luxury spending, driven by a surge in private education and business class fares, according to the annual report.
  • The report indicates a 2% overall drop in luxury goods prices for the first time since the survey began, highlighting changes in the global economy.
  • Luxury goods prices fell by 2%, marking the first decline since 2020, as noted by Julius Baer, who commented that this trend is quite exceptional.
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Bloomberg broke the news in United States on Monday, July 14, 2025.
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