The Most Expensive Cities for High-Net-Worth Individuals in 2025
According to Julius Baer’s 2025 Global Wealth and Lifestyle Report, the landscape of luxury living is shifting dramatically, with certain cities emerging as the most expensive for high-net-worth individuals (HNWIs). The report meticulously analyzes various factors, including the cost of living, housing prices, and the availability of premium services, giving a comprehensive view of where the affluent choose to reside. At the pinnacle of this list is Singapore, a city-state that has become synonymous with wealth and opulence.
1. Singapore: A Beacon of Wealth
Singapore’s position as the most expensive city for HNWIs is not surprising. The city-state offers a unique blend of a robust economy, political stability, and a high standard of living. With its world-class infrastructure and tax incentives, Singapore continues to attract wealthy individuals from around the globe. The luxury real estate market is thriving, with prices soaring for properties in exclusive neighborhoods like Orchard Road and Sentosa Cove. The demand for high-end services, from gourmet dining to private schooling, further cements Singapore’s status as a wealth magnet.
2. Hong Kong: The Land of Opportunities
Following closely behind Singapore is Hong Kong, a city that has long been a financial hub in Asia. Despite facing political turmoil and economic challenges in recent years, Hong Kong remains a favorite destination for affluent individuals. The real estate market continues to be one of the most expensive in the world, with prime properties commanding exorbitant prices. The cityโs vibrant culture, luxury shopping districts, and unparalleled business opportunities make it an attractive location for HNWIs seeking both lifestyle and investment prospects.
3. Zurich: Switzerland’s Financial Heart
Zurich is not just a picturesque city; it is also a financial powerhouse that attracts wealthy individuals from various sectors. Known for its banking services and high-quality living standards, Zurich offers a safe environment and a stable economy. The city boasts high salaries, excellent healthcare, and an efficient public transportation system. The luxury real estate market remains strong, with properties in areas like Lake Zurich offering breathtaking views and high value.
4. Geneva: A Global Diplomatic Hub
Another Swiss city, Geneva, ranks high on the list due to its status as a global diplomatic center and its strong financial services sector. The city is home to numerous international organizations, making it a hotspot for affluent individuals involved in global affairs. The cost of living is high, particularly in residential areas near the lake, where luxury apartments are sought after. Geneva’s high-quality education systems and healthcare services further enhance its appeal to HNWIs.
5. London: The Timeless Classic
London has long been a top destination for the worldโs wealthy, and it retains its position in the 2025 report. The city is renowned for its luxury shopping, fine dining, and cultural heritage. Neighborhoods like Mayfair and Kensington are coveted, with real estate prices reaching astronomical levels. Despite the Brexit uncertainties, Londonโs status as a global financial hub ensures its continued attraction for HNWIs looking for investment opportunities and lifestyle options.
6. New York City: The City That Never Sleeps
New York City remains a magnet for wealth, ranking prominently in the report. Known for its iconic skyline and vibrant culture, NYC offers an unparalleled lifestyle that appeals to affluent individuals. Areas such as Manhattan are home to some of the most expensive real estate in the world, with luxury condos and penthouses fetching millions. The cityโs extensive entertainment options, world-class dining, and a thriving arts scene make it an attractive place for the wealthy.
7. Tokyo: The Blend of Tradition and Modernity
Tokyo is not only Japanโs capital but also a bustling metropolis that attracts high-net-worth individuals. The city offers a unique blend of traditional culture and cutting-edge technology. With its high standard of living, Tokyo’s luxury real estate market is thriving, particularly in areas like Minato and Shibuya. The quality of life, exceptional public transport, and rich cultural experiences make Tokyo a desirable location for affluent residents.
8. Dubai: The Luxury Oasis
Dubai has rapidly ascended the ranks to become one of the most expensive cities for HNWIs. Known for its extravagant lifestyle, luxury shopping, and opulent hotels, Dubai offers an appealing environment for wealthy individuals. The real estate market is characterized by stunning skyscrapers and lavish villas, with iconic developments like the Burj Khalifa symbolizing the cityโs luxury appeal. The tax-free environment and innovative business landscape are additional factors drawing affluent individuals to this Middle Eastern oasis.
9. Sydney: Australiaโs Jewel
Sydney is often regarded as Australia’s most desirable city, attracting high-net-worth individuals with its stunning beaches and vibrant lifestyle. The real estate market is competitive, particularly in areas like the Eastern Suburbs, where properties command high prices. Sydney’s robust economy, excellent education system, and outdoor lifestyle make it an attractive destination for wealthy individuals seeking a balanced lifestyle.
10. Los Angeles: The Entertainment Capital
Finally, Los Angeles rounds out the list of the most expensive cities for HNWIs. Known as the entertainment capital of the world, LA offers a unique lifestyle that attracts celebrities and affluent individuals alike. The real estate market is characterized by luxury homes in neighborhoods like Beverly Hills and Malibu. The cityโs combination of cultural attractions, outdoor activities, and a thriving economy makes it an appealing destination for high-net-worth individuals.
In summary, these ten cities exemplify the pinnacle of luxury living for high-net-worth individuals. As urban centers continue to develop and attract wealth, understanding the dynamics of these locations is crucial for investors and businesses aiming to cater to this affluent demographic. The 2025 Global Wealth and Lifestyle Report highlights the ongoing trends in global wealth distribution and the evolving landscape of luxury living.
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