Singapore is the World’s Most Expensive City for Living, Study Finds [Video]

Singapore retained its position as the costliest city in the world for spending on luxury goods such as jewelry and shoes and services including dining, healthcare and education, according to a new study.

In its latest report, Swiss wealth manager Julius Baer Group Ltd. revealed that Singapore was closely followed by Hong Kong and London in the second and third spots in the ranking, respectively.

Singapore continues to attract ultra-wealthy individuals

According to the analysis, Singapore’s ranking in the top spot can be attributed to the nation’s growing attractiveness among ultra-wealthy individuals due to its political stability and economic strength.

“Singapore, at number one, remains the world’s most expensive city. It is also the most expensive place to own a car,” said the report.

It added: “The city continues to attract the ultra-wealthy by maintaining its reputation for political and economic stability alongside a pro-business environment.”

The Lifestyle Index prepared by Julius Baer ranks the world’s …