02 Mar '13, 6am

Defining #Luxury Across the Globe via @zite

Defining #Luxury Across the Globe via @zite

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. View Interactive Costs Around the World View Interactive Photo: Getty Images Related Video Some luxury retailers find themselves in a difficult position in 2013 after strategy missteps that have left them with less revenue, lower profits, and fewer shoppers. MarketWatch's Christopher Noble discusses which luxury brands to avoid. (Photo: AP) 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...

Full article: http://online.wsj.com/article/SB1000142412788732450320457...

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