Sky-high property prices, exorbitant car ownership costs and expensive private medical care, among other factors, have kept Singapore the most expensive city for the super rich in 2024, according to a report by Swiss private bank Julius Baer.

Singapore has for the first time overcome Hong Kong (China), London (UK) and New York (US) to become the most expensive city for an upper-class lifestyle, according to the 2023 Global Wealth and Lifestyle Report released recently by Julius Baer Group based in Switzerland.

Quality of life, education facilities, and a transparent and professional business environment are elements making Singapore attractive to foreigners despite its high living cost. ​