According to the latest report on the fortune from the private Swiss bank Julius Baer, Singapore boosted by the rise of the Singapore dollar would be the second most expensive city in Asia after Shanghai.
The report is based on expenditures luxury of richest people in Asia with net investable assets equal to or more than 1 million US dollars excluding their primary residence. In the world, the city-state marched in ahead of New York, London, Los Angeles, which didn’t even feature in the top 10 priciest places in the Economist Intelligence Unit’s (EIU) Worldwide Cost of Living 2018 survey.
Singapore is before Shanghai, Shanghai being the most expensive city for hospitalizations, luxury accessories such as jewelry, watches, handbags, cosmetics, wines. Luxury goods for women in Singapore cost more than the equivalent of all men in Asia. Seoul would be the most expensive city in Asia for luxury men’s and women’s products when Mumbai and Jakarta would be the cheapest in Asia. If you want to by a car in Singapore, it will cost you the average price of $57000 for a mid-range berline. Indeed to avoid traffic jams like in other Asian megacities Singapore limits the number of vehicles and to purchase a car there, the buyer has to pay first a license for an amount of approximately $ 35,000.