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These Are the World’s Most Expensive Cities to Live in If You’re Rich

Designer clothes to fancy dinners have become 7.5% more expensive globally, with Asian cities leading the list of costliest places to live.

Visitors sit outside luxury stores on Orchard Road in Singapore.

Visitors sit outside luxury stores on Orchard Road in Singapore.

Photographer: Ore Huiying/Bloomberg
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For the ultra-rich living in some of the world’s most expensive cities, like Shanghai and Hong Kong, the surging prices of luxury items over the past year have taken a bite out of their vast purchasing power.

For the wealthy individuals who reside in London and New York, on the other hand, the higher cost of designer handbags, shoes, suits and watches doesn’t even keep up with their countries’ overall inflation rates.