For the rich, living in Asia costlier than anyplace; Shanghai priciest city

Asian cities are more expensive partly because "Covid didn't become an epidemic quite the same way it unfortunately became in the other cities in the index"

If you’re wealthy, Asia Pacific is the most expensive place to live in, with Shanghai overtaking Hong Kong as the priciest city in the world.

Those are some of the key findings from a Julius Baer Group Ltd. report about luxury lifestyles released Friday, which stated that part of the reason for the region’s success was its swift recovery from the coronavirus pandemic. By contrast, the Americas is the most affordable because of the slump in the U.S. and Canadian dollars and sharp devaluations of Latin American currencies.

Asian cities are more expensive partly because “Covid didn’t become an epidemic