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Markets & Investing

Staff Reporter

, Hong Kong

Published:

1 year ago

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Photo by Manson Yim from Unsplash

Hong Kong ranks second most expensive city for high-net-worth individuals

It ranks behind Singapore.

Hong Kong is the second most expensive city globally for high-net-worth (HNW) individuals to live comfortably.

The city ranks behind Singapore (1st) but ahead of other APAC cities like Shanghai (4th), Bangkok (12th), Jakarta (14th), and Tokyo (23rd).

According to Julius Baer, Hong Kong is the second most expensive city for property prices and the costliest place to engage a lawyer.

Hotel suite prices in Hong Kong saw a year-on-year (YoY) increase of 22.9% in USD and 22.7% in HKD.

On the flip side, purchases such as champagne are the least expensive for HNW individuals in Hong Kong, whilst whisky prices decreased by 18.8% in USD and 18.9% in HKD.

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