Even if you have property worth crores, some cities of the world can be heavy on your pocket. According to the Julius Baer Lifestyle Index 2026, Singapore is the most expensive city in the world to live in for rich people, while Zurich in Switzerland has reached the second place. According to the report, in the last one year, the expenditure on premium goods and luxury services has increased by an average of 10.2 percent in US dollar terms, while the prices of luxury goods have increased by 12.3 percent. Due to record prices of gold, jewelery has become expensive by 16.4 percent and expensive watches by 15.5 percent. Compared to last year, Zurich has jumped three places to become the second most expensive city in the world.
Who are the most expensive cities in the world?
According to the latest Lifestyle Index report of Julius Baer Bank, Singapore continues to be the most expensive city in the world for rich people. In this list, Zurich is at second place, Monaco is at third place, Hong Kong is at fourth place and London is at fifth place. This index measures the cost of living of people who own large assets and enjoy high-level amenities and services. According to the report, Zurich has registered an increase of three places compared to last year.
Why is it so expensive to live in these cities
According to the report, things like buying a house, bicycle, handbag, healthcare services, laser eye surgery and spa treatment are much more expensive in Zurich compared to many big cities of the world. However, private schools here are said to be relatively affordable. At the same time, the high prices of houses in Singapore, cost of vehicles and the strength of the Singapore dollar are continuously keeping it at the first place. This is the reason why one has to spend a lot to maintain a high level of lifestyle in these cities.
Expenditure of the rich increased by 10.2 percent, highest inflation in luxury goods
According to the Julius Baer Lifestyle Index 2026, spending on premium goods and luxury services by wealthy people around the world has increased by an average of 10.2 percent in US dollar terms. The report shows that the highest inflation was recorded in luxury goods, where prices increased by an average of 12.3 percent. The impact of record gold prices was also visible on jewellery, whose price increased by 16.4 per cent, while expensive watches became costlier by 15.5 per cent. Rich people are spending the most money on things like hotel suites, premium restaurants, healthcare, business class flights and smartphones.
Where is the wealth of the rich increasing fastest?
According to the report, the wealth of rich people is also increasing rapidly in many parts of the world. 97 percent of high net worth people in North America reported that the value of their investments and assets had increased in the last 12 months. Whereas in the Asia Pacific region, which includes countries like India and Singapore, an increase in wealth and investment of 90 percent of the rich was recorded. The report calls it a “two-speed economy”. According to this, rich people of Asia Pacific and Middle East are earning and spending money faster than those of Europe and Latin America.
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