The World's Most Expensive Cities to Live in

The Julius Baer Global Wealth and Lifestyle Report 2026 highlights the world's most expensive cities for high-net-worth individuals, reflecting the cost of maintaining a premium lifestyle rather than everyday living expenses.

The ranking is based on the prices of luxury goods and services, including residential property, cars, healthcare, education, travel, and fine dining. According to the 2026 report, the top ten most expensive cities are Singapore, Zurich, Monaco, Hong Kong, London, Shanghai, Paris, Sydney, Milan, and Bangkok.

Singapore retains the number one position for the fourth consecutive year. Its high property prices, costly vehicle ownership, and strong Singapore dollar continue to make it the world's most expensive city for affluent residents. Political stability, a robust economy, and excellent infrastructure further enhance its appeal as a global wealth hub.

Zurich climbs to second place, driven largely by the appreciation of the Swiss franc rather than rapid local inflation. Monaco follows in third, benefiting from the strength of the euro and exceptionally high residential real estate prices.

Hong Kong slips to fourth despite remaining one of Asia's premier financial centers, while London rounds out the top five after falling from second place due to currency movements.

Shanghai remains sixth, reflecting China's continued importance in the global luxury market despite shifting consumer preferences. Paris rises to seventh, supported by the stronger euro and its enduring reputation for luxury fashion, fine dining, and culture.

Sydney makes one of the biggest jumps in the rankings, climbing to eighth thanks to a stronger Australian dollar and higher import costs for premium goods.

Milan ranks ninth, reinforcing Italy's status as a center of luxury fashion and design. Bangkok completes the top ten after steadily climbing the rankings, highlighting Southeast Asia's growing influence in luxury consumption and wealth creation. The city has become increasingly attractive to affluent residents seeking premium services and lifestyle experiences.

The 2026 report also reveals that currency fluctuations played a greater role than inflation in reshaping this year's rankings. Cities with appreciating currencies, particularly those tied to the Swiss franc and the euro, moved higher, while locations linked more closely to the U.S. dollar generally slipped.

Overall, the report underscores how exchange rates, economic stability, and global mobility increasingly shape the cost of luxury living for wealthy individuals across the world's leading financial and cultural capitals.