The annual wealth report by Bank Julius Baer & Co.'s that tracks the spending pattern in Asia has announced Shangai in China as the most priciest city in the Asia region on a price-weighted basis. The report states that the city is expensive in relative terms and has surpassed Hong Kong for hiring a lawyer or for buying other products.
Kuala Lumpur on the other hand ranks as the least expensive city in Asia as per the report's findings. The report highlighted that Malaysia's capital city is the best when it comes to looking for a place to indulge in cigars, booking a hotel suite or buying a piano.
The report which comes out with a Julius Baer Lifestyle Index 2018 compares 22 goods and services across 11 Asian cities, including Hong Kong, Singapore, Shanghai, Mumbai, Taipei, Jakarta, Manila, Seoul, Kuala Lumpur, Bangkok, and Tokyo.
The report this year has also rolled out a new index titled His & Hers Index to compare the cost of grooming for wealthy women and men across Asia. In accordance to this Index, while Seoul has emerged as the most expensive for grooming of both men and women, Jakarta is the cheapest for male luxury items whereas Mumbai in India is cheapest for wealthy women.
Hong Kong however is the most expensive for buying a residential accommodation or for taking a business class flight.
As per the report, these are the top 10 expensive cities across Asia
3. Hong Kong