Singapore is recognized as the most expensive city to live in the world, writes UNN with reference to a study by the Swiss asset management company Julius Baer Group Ltd.
Analysts estimated the amount of costs needed to maintain a "good life." First of all, we are not talking about basic costs, but about the level of costs for luxury goods, branded clothing, cars, appliances and other things necessary to maintain a high standard of living, elite status.
Singapore holds the lead in the ranking for the second year in a row. Hong Kong is in second place. Despite this, analysts note that Asia is losing its status as the most expensive region to live in. At the regional level, Europe, the Middle East and Africa are taking over the leadership. So, London is in the third place of the most expensive cities to live in. In addition, analysts note an increase in the cost of living in almost all European cities included in the rating. For example, Zurich has risen by 8 positions compared to last year, Milan by six, and Paris by five. At the same time, Dubai has dropped to sixth place, although it retains a leading position in terms of real estate value.
The top ten most expensive cities for the rich look like this:
Singapore
Hong Kong
London
Shanghai
Monaco
Zurich
new york
Paris
Sao Paulo
Milan
Swiss analysts also studied price changes in a number of luxury goods categories compared to last year. Some products have fallen in price. The most noticeable drop was in the price of bicycles – 6.4%, business class flights fell by 1.7%, and whiskey - by 1%. At the same time, women's shoes increased in value by an average of 9.3%, as well as men's suits, but jewelry rose in price by 9.6%.