Hong Kong is crowned as the fanciest city in the world

閱讀中文版本

Hong Kong, Shanghai and Tokyo are the most expensive cities for luxury and services, it has been revealed by Swiss private bank Julius Baer's Global Wealth and Lifestyle Report.

Hong Kong’s residential properties may be notoriously costly but luxury goods are not specifically taxed.

When it comes to services (not including property and hotels) Shanghai is more expensive than Hong Kong. Meanwhile Tokyo, the third most expensive city, has the most expensive hotel suites compared to other countries, yet offers good value for watches and fine wine.

Although New York is notably expensive for services and consumables, on a price-weighted basis it comes in 4th place, given its relatively inexpensive for items such as cars.

European cities tend to offer reasonable value. Europe’s best-value cities for luxury are Barcelona in 24th place and Frankfurt in 26th, whereas London (in 7th place) is the most expensive city in EMEA (Europe, the Middle East and Africa).

The most expensive cities for luxury and services:

1. Hong Kong
2. Shanghai
3. Tokyo
4. New York
5. Singapore
6. Los Angeles
7. London
8. Taipei
9. Zurich
10. Monaco
11. Bangkok
12. Paris
13. Miami
14. Vienna
15. Sydney
16. Rio de Janeiro
17. Dubai
18. Mexico City
19. Milan
20. Manila
21. Vancouver
22. Jakarta
23. Moscow
24. Barcelona
25. Istanbul
26. Frankfurt
27. Johannesburg
28. Mumbai

A total of 28 cities around the world (10 in Asia, 12 in Europe, Middle East and Africa (EMEA) and six in the Americas) were surveyed.