MANILA, Philippines — The Philippine capital has again been named the most affordable city in Asia‑Pacific for the wealthy, according to the Julius Baer Global Wealth and Lifestyle Report 2026 released on July 7. The ranking positions Manila as a prime destination for high‑net‑worth individuals seeking value without sacrificing a premium lifestyle.
A Magnet for Global Capital
The report places Manila 23rd out of 25 global cities, making it the third cheapest worldwide after Johannesburg and Vancouver. For wealthy investors, this translates into exceptional purchasing power, especially in residential real estate and personal services. A luxury lifestyle that costs a fortune in Singapore or Hong Kong can be enjoyed here at a fraction of the price.
Julius Baer’s index tracks 20 luxury goods and services, from property and cars to fine dining and healthcare. Manila’s residential property ranked 20th globally, meaning a high‑end home costs significantly less than in most major cities. This affordability, combined with the country’s warm climate and English‑speaking workforce, creates a compelling case for relocation and second‑home investments.
Where the Wealthy Save the Most
Manila emerged as the absolute cheapest city for spa treatments and the second cheapest for legal services and sports equipment. Fine dining and bicycles were the third cheapest globally. Hotel suites also ranked among the most affordable, making the city attractive for business travel and extended stays.
These cost advantages give HNWIs the freedom to allocate more of their wealth toward property acquisitions and business ventures. A retiree or entrepreneur can maintain a luxurious daily life—complete with private chefs, wellness services, and premium entertainment—while preserving capital for larger investments. The report underscores that Manila offers a complete luxury ecosystem at a discount.
Currency Winds Favor the Philippines
A significant driver of Manila’s affordability is currency movement. The report notes that much of the global increase in luxury costs is a currency story, with cities tied to appreciating currencies like the Swiss franc becoming pricier when converted to US dollars. Manila benefits from the opposite effect, appearing cheaper on the international stage even as local prices rise modestly.
This dynamic creates a window of opportunity for foreign property buyers. Real estate priced in pesos becomes even more attractive when converted from stronger foreign currencies. Investors from Singapore, Hong Kong, and the Middle East can acquire premium condominium units, beachfront villas, or commercial spaces at a fraction of what they would pay at home.
Rising Wealth and Shifting Priorities
The Asia‑Pacific region remains a powerhouse of global affluence, with five of the world’s ten most expensive cities located there. Yet the region’s wealthy are not merely spending; 90 percent reported an increase in their assets over the past year. Health and experiential spending are now top priorities, with 58 percent planning to increase health‑related expenses.
This shift aligns perfectly with Manila’s strengths. The city offers high‑quality healthcare at competitive prices and a vibrant dining and hospitality scene. For wealthy families, Manila provides an environment where they can invest in wellness, education, and leisure while watching their real estate assets appreciate in a growing economy.
A Strategic Play for Property Investors
With residential property among the most undervalued luxury categories in Manila, the city presents a rare arbitrage opportunity. As global wealth continues to expand and the wealthy look for value, Manila’s ranking is likely to attract a fresh wave of real estate inquiries. For those seeking a luxury lifestyle without the luxury price tag, the numbers point to one clear destination.
