Singapore Is Asia’s Second Most Expensive City To Live Like “Crazy Rich Asians”

Singapore Is Asia’s Second Most Expensive City To Live Like “Crazy Rich Asians”

Private bank Julius Baer’s latest wealth report positioned Singapore as the second most expensive city for luxury living in Asia.

The Julius Baer Lifestyle Index 2018 tracks the luxury expenditure trends of high-networth individuals (those with net investable wealth of US$1 million or more) in 11 Asian countries.

Shanghai tops the list, being the most expensive city for six items on the index, which include hospital accommodation, watches, handbags, wine, jewellery and skin cream.

In contrast, Kuala Lumpur is the least expensive city for luxury goods and services. It is the most competitive city to buy properties, hotel suites, wine, jewellery, pianos and cigars. For example, in Kuala Lumpur, you can buy a diamond-encrusted white gold Cartier Love Bracelet for US$41,818. The same item will cost you US$48,143 in Shanghai.

On the other hand, Singapore trails behind Shanghai on the index. The city remains the most expensive city for buying a luxury sedan.

However, the report also refers to Singapore as the most liveable city in Asia that also comes in second in regards to east of doing business.

Julius Baer & Co.’s Wealth Report for Asia rankings 2018

  1. Shanghai
  2. Singapore
  3. Hong Kong
  4. Tokyo
  5. Taipei
  6. Seoul
  7. Bangkok
  8. Mumbai
  9. Manila
  10. Jakarta
  11. Kuala Lumpur

[Sources: 1, 2]

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