Per Business Insider

The Julius Baer Group released a new report that ranks Singapore as the most expensive city when it comes to upper-class lifestyle. This came from its 2023 Global Wealth and Lifestyle Report.

This came as Shanghai was pushed off the podium, with Singapore becoming the first Asian city-state to top the list. In 2022, the country ranked in 5th place, and a year earlier, it ranked in 9th place.

The Julius Baer analyst wrote in the report that Singapore is becoming a leading global center, especially for those with money.

"Long considered liveable, stable, and cosmopolitan, Singapore is now vying to become a leading global centre for the wealthy,"

Singapore was followed by Shanghai, then Hong Kong, London, then finally, New York. Monaco was in sixth place, while Dubai, Taipei, São Paulo, and finally, Miami.

In March, it was reported that in New York City that a $100,000 salary felt like $35,791. This was closely followed by Honolulu, where a $100,000 salary of $36,026, and San Francisco, with the same salary feeling like $36,445.

In September, luxury-home purchases fell by a record-breaking 28% as the Bay Area was hit the most. This came as non-luxury homes fell by 19.5% during the last three months ending on Aug 31.

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