Singapore Tops Global Luxury Spending Index for Second Consecutive Year in 2026

Global Luxury Spending Report Reveals Singapore as World's Most Expensive City for Fourth Consecutive Year

Singapore has maintained its position as the world's most expensive city for luxury spending for a fourth consecutive year, according to the annual report by Swiss wealth manager Julius Baer Group Ltd. The report, which compares prices on a US dollar basis, attributes Singapore's long-held top rank to high prices of residential property and cars, which carry the heaviest weightings in the index.

Zurich climbed to second place, edging out London, while Monaco entered the top three for the first time since the survey began in 2020. Hong Kong and London rounded out the top five. Zurich's three-place rise was propelled by the strengthening of the Swiss franc, supported by the country's reputation for stability and the currency's role as "store of value" in unpredictable times.

The index, which ranks 25 cities by analyzing the price inflation of 20 luxury items and services, was driven by a surge in gold prices. Jewelry prices increased by 16.4%, while watch prices rose by 15.5%. The average increase in the Lifestyle Index was 10.2% in US dollar terms over the past 12 months.