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Cars and essential health insurance in Singapore are 133% and
109% more expensive than the global average, among 12 consumer
goods and eight services that reflect the spending patterns of
high-net-worth individuals, according to Julius Baer's Global
Wealth and Lifestyle report this year.
The politically stable and tax-friendly city-state was one of
the first Asian cities to significantly ease pandemic
restrictions, and has started to see an influx of wealth.
Demand for accommodation is high, school places are at a
premium, and the general cost of living for everyone is high in
Singapore, the report added.
Shanghai, in first place last year, fell to second. Possible
factors include longer pandemic restrictions than in other
cities, the report said. Hong Kong was ranked third.
Johannesburg was at the bottom of the list, which covered 25
cities across the world.
(Reporting by Chen Lin in Singapore. Editing by Gerry Doyle)
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