Manila is Asia-Pacific's cheapest city for luxury

Manila has been regarded as the cheapest city for the rich in Asia-Pacific by Swiss wealth manager Julius Baer, despite inflation denting even the affluent's deep pockets.

- BY BEN ARNOLD DE VERA

In Julius Baer's Global Wealth and Lifestyle Report 2025, released on July 14, Manila is ranked 10th among 10 Asia-Pacific cities, which means it's where luxury goods and services can be enjoyed at the lowest prices in the region.

Singapore remains the most expensive city globally; in Asia-Pacific.

It is followed by Hong Kong, Shanghai, Bangkok, Taipei, Sydney, Tokyo, Jakarta, and Mumbai.

Across the 25 cities covered by the report, Manila ranked 23rd overall globally, with only Vancouver and Johannesburg deemed to have even lower luxury costs. The Philippine capital was in a higher 21st position last year.

"Manila is a peculiarity of this year's results, as it actually falls two places to 23rd despite a 7.5-percent rise in average local currency the second highest in the region behind Jakarta," Julius Baer said.