{"id":102038,"date":"2018-12-05T11:26:35","date_gmt":"2018-12-05T04:26:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-asias-second-most-expensive-city-for-wealthy-people\/"},"modified":"2018-12-05T12:04:03","modified_gmt":"2018-12-05T05:04:03","slug":"singapore-is-asias-second-most-expensive-city-for-wealthy-people","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-asias-second-most-expensive-city-for-wealthy-people\/","title":{"rendered":"Singapore is Asia\u2019s second most expensive city for wealthy people"},"content":{"rendered":"


\nSingapore remains one of the most expensive cities.
\nSingapore has been ranked as Asia\u2019s second most expensive city to maintain an upscale lifestyle, revealed the latest Julius Baer Lifestyle Index.
\nIn fact, the city-state rose one spot in the rankings partly due to the stronger Singapore dollar and an improvement across the board in price rankings of luxury goods and services.
\nMore: Here\u2019s What The World\u2019s Most Expensive Home Looks Like
\n\u201cOn a price-weighted basis, Singapore is now the second most expensive city in Asia. Unsurprisingly, it is the most expensive city to purchase a car, owing to heavy levies and duties on automobile purchases. It is also the third most expensive city to secure a luxury property. Individuals looking to enjoy an evening out at a two Michelin-starred restaurant would also be forking out the highest prices in the region.
\n\u201cOne would be hard-pressed to find a bargain in Singapore, albeit pianos (4th cheapest regionally) jewellery (5th cheapest regionally) are relatively price competitive compared to the rest of the region,\u201d said Julius Baer.
\nNonetheless, the Swiss multinational private bank highlighted that the city-state remains an attractive choice for both investments and talented staff as it was named Asia\u2019s most liveable city, and ranked second for ease of doing business.
\nHowever, the US-China trade dispute could negatively impact Singapore\u2019s exports, while prices of goods and services could increase at a higher rate of 1.5 percent in 2019 compared to 1.0 percent in 2018 due to rising power costs.
\n\u201cIn the short run, a strengthening US dollar, worsening trade spat and China\u2019s economic slowdown will be a drag on the Singapore dollar. However, in the longer term, we believe strong fundamentals and greater economic productivity will support the Singapore dollar,\u201d it noted.
\nMeanwhile, Shanghai rose one spot and took the lead as Asia\u2019s second most expensive city for luxury living. While Hong Kong dropped two places to third place, it is still the costliest city in terms of property prices.
\n\u201cHong Kong, Tokyo and Singapore remain the three most expensive cities for property in Asia, whereas Kuala Lumpur, Manila and Jakarta are the most price competitive cities,\u201d said Julius Baer.
\nThe Julius Baer Lifestyle Index takes into account the prices of luxury goods and services across 11 cities in Asia. These include business class flights, residential property, wedding banquets, hotel suites, Lasik eye surgery, hospital rooms, golf club membership, legal services, wine, jewellery and accessories, clothes, Botox, piano, car, cigar, shoes, skin cream and degustation dinner.
\nCan you afford a million-dollar property in Singapore? Check your\u00a0affordability\u00a0now.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore is Asia\u2019s second most expensive city for wealthy people<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore remains one of the most expensive cities. Singapore has been ranked as Asia\u2019s second...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-102038","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qxM","jetpack-related-posts":[{"id":28669,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-asias-2nd-most-expensive-city-says-wealth-report\/","url_meta":{"origin":102038,"position":0},"title":"Singapore is Asia\u2019s 2nd most expensive city, says wealth report","date":"October 5, 2016","format":false,"excerpt":"\r Singapore has overtaken Hong Kong as the second most expensive city in Asia. Singapore has been ranked as the second most expensive city in Asia, overtaking Hong Kong which is in third place, reported The Straits Times citing a wealth report from Julius Baer. \u201cSingapore has overtaken Hong Kong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98637,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/small-condos-in-singapore-cbd-are-2nd-most-expensive-globally\/","url_meta":{"origin":102038,"position":1},"title":"Small condos in Singapore CBD are 2nd most expensive globally","date":"September 27, 2018","format":false,"excerpt":"\r Two-bedders in Singapore\u2019s CBD cost about S$1.4 million on average. Two-bedroom condo units in Singapore\u2019s central business district (CBD) cost approximately \u00a3781,000 (S$1.4 million) on average, revealed a study by UK based personal finance website www.finder.com. This amount is the second most expensive in the world, the portal said.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2018\/09\/Price-of-a-two-bedder-in-Singapore.jpg?fit=797%2C468&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":91282,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-returns-to-top-20-list-of-most-expensive-cities-for-expats\/","url_meta":{"origin":102038,"position":2},"title":"S\u2019pore returns to top 20 list of most expensive cities for expats","date":"June 13, 2018","format":false,"excerpt":"\r Singapore has been ranked as the 20th most expensive city globally in the latest survey by ECA International. Singapore has once again returned to the top 20 list of most expensive cities for expats, reported Channel NewsAsia citing the latest survey by ECA International. The city-state was ranked 20th\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92598,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-is-worlds-fourth-most-expensive-city-for-expats-survey\/","url_meta":{"origin":102038,"position":3},"title":"Singapore is world\u2019s fourth most expensive city for expats: survey","date":"June 27, 2018","format":false,"excerpt":"\r The study measured the comparative cost of over 200 items globally, including food, housing and transportation. Singapore has emerged as the world\u2019s fourth most expensive city for expatriates, according to Mercer\u2019s annual cost of living survey. Hong Kong tops the Asia-dominated list, with Tokyo in second place, Seoul fifth,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108518,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-ranked-3rd-for-worlds-most-expensive-city-for-expats\/","url_meta":{"origin":102038,"position":4},"title":"Singapore ranked 3rd for world\u2019s most expensive city for expats","date":"June 28, 2019","format":false,"excerpt":"\r Singapore emerged as the world\u2019s third costliest city for expats to live in, up from fourth place last year, on the back of rising affluence and sustained demand in quality housing,\u00a0Mercer\u2019s latest Cost of Living Survey found.\u00a0 Hong Kong continued to top the ranking, followed by Tokyo. Completing the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/expat-rents-continue-to-drop-in-singapore\/","url_meta":{"origin":102038,"position":5},"title":"Expat rents continue to drop in Singapore","date":"March 14, 2019","format":false,"excerpt":"\r A new study shows that rental prices in Singapore are now on average US$500 cheaper per month than in 2016. Despite the continuous drop in rental prices for expatriates, Singapore remains in the top 10 most expensive locations for expatriate rents in Asia as it occupies eighth place, according\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102038"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=102038"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/102038\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=102038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=102038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=102038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}