Rich Asians Are Crazy to Live in Shanghai, Luxury Index Shows
- A Cartier Love Bracelet is 15% pricier in Shanghai versus KL
- Jakarta is the cheapest place in Asia for luxury men’s goods
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If you’re a high-net-worth individual in Asia into fine dining, wine, jewelry and luxury skin cream, best not to live in Shanghai.
The Chinese city overtook Hong Kong as the most expensive for a basket of luxury goods and services on a price-weighted basis, according to Bank Julius Baer & Co.’s annual Wealth Report Asia, which tracks spending by the region’s rich.