Asia most expensive region for luxury buying; Mumbai cheapest city: Report

Mumbai offers exceptional value across almost all luxury categories, says Julius Baer's first Global Wealth and Lifestyle Report.

Asia has five of the ten most expensive cities globally and it’s the most expensive region for high-end consumption, like for upscale residential property and high-end cars, said a report that predicted India’s luxury goods market to grow 6 per cent annually.

Julius Baer’s first Global Wealth and Lifestyle Report surveyed 28 cities around the world: ten in Asia, twelve in Europe, Middle East and Africa (EMEA), and six in the Americas. Hong Kong was the world’s most expensive city and Mumbai the cheapest.

The Mumbai property market was steady in the first quarter of 2019, but is expected to