World’s Most Expensive Cities in 2025

Across the globe, certain cities are known not just for their glamour and global influence, but also for the staggering cost of living they demand. These elite metropolises come with a lifestyle price tag that reflects their status as the world’s most expensive places to live.

The Global Wealth and Lifestyle Report 2025 by Swiss wealth management firm Julius Baer Group ranks the world’s most affluent cities based on the spending patterns of high-net-worth individuals (HNWI)—those with exceptionally high personal wealth.

Released annually, the report goes beyond traditional cost-of-living measures by tracking what it calls the “cost of living well”. This refers to the ability of residents in each city to purchase—and regularly enjoy—20 high-end goods and services typically consumed by the wealthy. These include private school tuition, luxury real estate, fine watches, gourmet dining, and business-class travel.

Singapore takes the number one spot as the most expensive city globally, reinforcing its reputation as the high-cost gateway of Southeast Asia and the only Southeast Asian city to make the top tier of the global ranking.

The 2025 report also highlights a notable shift in global wealth dynamics, especially in Asia and the Middle East. Dubai, in particular, has made a remarkable leap—now ranked 7th—closing in on traditional European strongholds such as Monaco and Zurich.

Meanwhile, Jakarta has earned a spot on the list. The Indonesian capital now ranks 18th out of 25 global cities surveyed—down four spots from its position last year.

The report notes, “Prices in Santiago, Chile rose by 15.4 per cent even as the city held steady at 22nd place, while prices in Jakarta climbed 9 per cent, coinciding with a drop of four positions in the rankings.”
 

Based on the report, below are the top 25 most expensive cities in the world:

1. Singapore
2. London
3. Hong Kong
4. Monaco
5. Zurich
6. Shanghai
7. Dubai
8. New York
9. Paris
10. Milan
11. Bangkok
12. Taipei
13. Miami
14. Sydney
15. Barcelona
16. São Paulo
17. Tokyo
18. Jakarta
19. Frankfurt
20. Mumbai
21. Mexico City
22. Santiago de Chile
23. Manila
24. Vancouver
25. Johannesburg

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