Jakarta Ranked 21st Most Expensive City
Jakarta has once again entered the list of cities with the highest premium cost of living in the world. According to Julius Baer’s Global Wealth and Lifestyle Report 2026, Indonesia’s capital city ranks 21st as the most expensive city for high-net-worth individuals (HNWIs).
The report measures the cost of maintaining a luxurious lifestyle in 25 global cities. The assessment is based on the United States dollar, taking into account the prices of various premium goods and exclusive services.
Although it dropped three places from 18th place the previous year, Jakarta remains a benchmark for the cost of living among the high-net-worth population globally.
“Overall, the cost of maintaining a premium standard of living has increased by around 10 percent, shifting the rankings of global cities,” Julius Baer wrote in its report.
In the Asia Pacific region, Jakarta remains below several major cities such as Singapore, Hong Kong, Shanghai, Sydney, and Bangkok. However, Jakarta has a higher premium cost of living than Mumbai, India, and Manila, Philippines.
In compiling its ranking, Julius Baer used 20 indicators, comprising 11 categories of luxury goods and nine types of premium services commonly consumed by high-net-worth individuals.
The benchmark goods include the prices of cars, bicycles, watches, women’s handbags, shoes, champagne, jewelry, residential property, technology packages, and sports equipment. Meanwhile, the services sector includes business-class airline tickets, hotels, fine dining restaurants, healthcare, MBA education, private schools, legal services, LASIK surgery, and spa services.
Strikingly, Jakarta ranked quite high in several categories. Car prices in Jakarta ranked fourth in the world, while champagne prices ranked fifth.
The cost of an MBA education was even the highest among all cities surveyed. Furthermore, Jakarta ranked ninth for private school fees, eighth for women’s handbags, and 12th for lawyer fees.
Meanwhile, men’s suits and spa services were not included in Jakarta’s assessment due to unavailable or inapplicable data.
Globally, Singapore has retained its title as the most expensive city for the wealthy for the fourth consecutive year. Julius Baer cited high property prices, expensive vehicles, and the strong Singapore dollar as the main factors maintaining the country’s position at the top of the rankings.
The report also noted that Sydney was the city with the most significant ranking increase this year, jumping six positions compared to the previous year.
