The eighth annual Wealth Report Asia by Swiss private banking group Julius Baer was put out, which revealed that Hong Kong was dethroned from its top spot as the most expensive city in Asia.

The financial capital of Mumbai grabbed the eighth position and is naturally the only city from India to be featured on the list. The list has only undergone minor changes compared to last year. Singapore jumped from the third spot to the second this year, while Hong Kong was pushed down to the third spot. Tokyo stole Taipie’s previous rank of four and Taipei sits at number five.

The Julius Baer Lifestyle Index 2018 compares 22 goods and services across 11 Asian cities. The 22 goods and services considered are: Jewellery, botox, piano, car, cigar, ladies’ shoes, watch, ladies handbag, wine, men’s suit, skin cream, degustation dinner, residential property, business class flight, wedding banquet, hotel suite, lasik treatment, hospital room, golf club membership, legal services, boarding school fees and university expenses.

Take a look at the whole list of the 11 most expensive cities in Asia:

11.) Kuala Lumpur
10.) Jakarta
9.) Manila
8.) Mumbai
7.) Bangkok
6.) Seoul
5.) Taipei
4.) Tokyo
3.) Hong Kong
2.) Singapore
1.) Shanghai