Firstpost
  • Home
  • Video Shows
    Vantage Firstpost America Firstpost Africa First Sports
  • World
    US News
  • Explainers
  • News
    India Opinion Cricket Tech Entertainment Sports Health Photostories
  • Asia Cup 2025
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
Trending:
  • PM Modi in Manipur
  • Charlie Kirk killer
  • Sushila Karki
  • IND vs PAK
  • India-US ties
  • New human organ
  • Downton Abbey: The Grand Finale Movie Review
fp-logo
Singapore, London costliest for luxury spending; education, flight costs push UK capital past Hong Kong
Whatsapp Facebook Twitter
Whatsapp Facebook Twitter
Apple Incorporated Modi ji Justin Trudeau Trending

Sections

  • Home
  • Live TV
  • Videos
  • Shows
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Health
  • Tech/Auto
  • Entertainment
  • Web Stories
  • Business
  • Impact Shorts

Shows

  • Vantage
  • Firstpost America
  • Firstpost Africa
  • First Sports
  • Fast and Factual
  • Between The Lines
  • Flashback
  • Live TV

Events

  • Raisina Dialogue
  • Independence Day
  • Champions Trophy
  • Delhi Elections 2025
  • Budget 2025
  • US Elections 2024
  • Firstpost Defence Summit
  • Home
  • World
  • Singapore, London costliest for luxury spending; education, flight costs push UK capital past Hong Kong

Singapore, London costliest for luxury spending; education, flight costs push UK capital past Hong Kong

FP News Desk • July 14, 2025, 20:48:44 IST
Whatsapp Facebook Twitter

Singapore remains the world’s most expensive city for luxury spending for the third year in a row, while London has overtaken Hong Kong to claim second place, according to a report

Advertisement
Subscribe Join Us
Add as a preferred source on Google
Prefer
Firstpost
On
Google
Singapore, London costliest for luxury spending; education, flight costs push UK capital past Hong Kong
Singapore remains the world's most expensive city for luxury spending for the third year in a row, Reuters File

Singapore remains the world’s most expensive city for luxury spending for the third year in a row, while London has overtaken Hong Kong to claim second place, according to a Bloomberg report, citing Julius Baer’s latest annual report.

Monaco and Zurich rounded out the top five, while Shanghai — the 2022 leader — dropped two spots to sixth, added the report.

The report found that prices of luxury goods tracked in its index fell by 2% — the first decline since the survey began in 2020.

STORY CONTINUES BELOW THIS AD

Julius Baer called the dip “quite exceptional,” noting that luxury prices typically rise at twice the rate of average consumer inflation, reported Bloomberg.

“In light of ongoing uncertainty, trade tensions, and tariffs, our findings represent the final moment ‘before’ the current situation,” Bloomberg quoted Christian Gattiker, head of research at the Swiss bank, as saying.

More from World
Dhaka to Dorchester: Hasina-era officials disposing UK assets amid probe in Bangladesh, says report Dhaka to Dorchester: Hasina-era officials disposing UK assets amid probe in Bangladesh, says report Shadow Warrior | Zohran Mamdani and the coming crisis for Hindus in America Shadow Warrior | Zohran Mamdani and the coming crisis for Hindus in America

Next year’s report “will likely provide a fascinating ‘after’ perspective,” he said.

With the current “unpredictable nature” of the world, Singapore continues to attract the wealthy with its stability and security, while Hong Kong’s new investment-for-residency scheme has sparked strong interest, reported Bloomberg, citing Julius Baer.

Hotel suite prices jumped 10.3% in Singapore but fell 26.1% in Hong Kong.

London climbed in the rankings, driven by a 26.6% surge in private education costs and a 29.7% rise in business class fares. However, the UK capital faced a “turbulent ride” due to the abolition of non-domiciled residency status, prompting some wealthy individuals to look elsewhere.

Impact Shorts

More Shorts
‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

Trump urges Nato to back sanctions on Russia, calls for 50–100% tariffs on China

Trump urges Nato to back sanctions on Russia, calls for 50–100% tariffs on China

Cities like Dubai, Milan, and Zurich have benefited, with Dubai climbing five spots to seventh and emerging as a “firm challenger” to traditional wealth hubs, added the report.

“The momentum of millionaires relocating to Dubai, which began during the pandemic, is predicted to continue,” the report said.

New York ranked eighth and remains the only city in the Americas to make the top 10, while São Paulo and Mexico City saw the steepest drops, falling to 16th and 21st respectively.

STORY CONTINUES BELOW THIS AD

According to the report, the luxury sector is entering a downturn after an extended spending spree, weighed down by high interest rates, slower economic growth, and rising trade tensions. Technology led the decline in prices, though business class flights bucked the trend, rising 18.2%.

The Julius Baer Lifestyle Index ranks 25 global cities based on the cost of luxury items—from property and private schools to cars and fine dining—based on surveys conducted with high-net-worth individuals (assets over $1 million) between February and March 2025.

With inputs from agencies

Tags
Hong Kong London Singapore
End of Article
Latest News
Find us on YouTube
Subscribe
End of Article

Impact Shorts

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

‘The cries of this widow will echo’: In first public remarks, Erika Kirk warns Charlie’s killers they’ve ‘unleashed a fire’

Erika Kirk delivered an emotional speech from her late husband's studio, addressing President Trump directly. She urged people to join a church and keep Charlie Kirk's mission alive, despite technical interruptions. Erika vowed to continue Charlie's campus tours and podcast, promising his mission will not end.

More Impact Shorts

Top Stories

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

Russian drones over Poland: Trump’s tepid reaction a wake-up call for Nato?

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

As Russia pushes east, Ukraine faces mounting pressure to defend its heartland

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Why Mossad was not on board with Israel’s strike on Hamas in Qatar

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Turkey: Erdogan's police arrest opposition mayor Hasan Mutlu, dozens officials in corruption probe

Top Shows

Vantage Firstpost America Firstpost Africa First Sports

QUICK LINKS

  • Trump-Zelenskyy meeting
Latest News About Firstpost
Most Searched Categories
  • Web Stories
  • World
  • India
  • Explainers
  • Opinion
  • Sports
  • Cricket
  • Tech/Auto
  • Entertainment
  • IPL 2025
NETWORK18 SITES
  • News18
  • Money Control
  • CNBC TV18
  • Forbes India
  • Advertise with us
  • Sitemap
Firstpost Logo

is on YouTube

Subscribe Now

Copyright @ 2024. Firstpost - All Rights Reserved

About Us Contact Us Privacy Policy Cookie Policy Terms Of Use
Home Video Shorts Live TV