Where It’s Most Expensive to Be Wealthy: The World’s Priciest Cities for HNWIs in 2025
The Global Wealth and Lifestyle Report 2025 by Julius Baer has revealed the world’s most expensive cities for high-net-worth individuals (HNWIs) — and for the third consecutive year, Singapore tops the list.
The rankings are based on the Julius Baer Lifestyle Index, which tracks the cost of 20 premium goods and services — including cars, jewelry, legal fees, and private education — across 25 global cities. The report also includes insights from 360 HNWIs with over $1 million in bankable assets.
Top 10 most expensive cities for HNWIs in 2025:
1. Singapore
2. London
3. Hong Kong
4. Monaco
5. Zurich
6. Shanghai
7. Dubai
8. New York
9. Paris
10. Milan
What’s driving the cost increases?
- Business-class airfares surged by 18.2%
- Luxury watches rose by 5.6%
- Technology prices declined globally — a rare bright spot
- APAC cities continue to dominate, with Singapore and Hong Kong in the top three
Despite the rising costs, Singapore remains highly livable thanks to its safety, healthcare, and infrastructure — reinforcing its status as a global wealth hub.
A note from Mauritius: Opportunity in Discretion
From our vantage point in Mauritius, we don’t see our home on this list — and that’s not necessarily a drawback. It highlights untapped potential to attract internationally mobile wealth seeking a more cost-effective, stable, and strategic location.
As a payments provider, we see this as a unique opportunity: to enable seamless, secure, and intelligent cross-border payment infrastructure that supports the global lifestyles of modern HNWIs.