Can you put a price tag on luxury? New York, Paris, London, Hong Kong and Sydney all rank among the top 10 cities for luxury living, but costs there can vary widely, according to early numbers from the Knight Frank Wealth Report. Of the global cities surveyed, Hong Kong is the priciest. Luxury two-bedroom apartments there typically sell for $4.81 million. The cost of consumer products is also high, with milk going for about $10.22 a gallon and gasoline selling for about $8.10 a gallon, according to Knight Frank, a U.K.-based real-estate consultancy. – read more at WSJ
