The average cost of a home in the world's most expensive neighborhoods ranges from a measly $1.2 million to a staggering $85 million.
A Men's magazine publishes a list of the most expensive places in the world to own a house -- selected by the average price of a home.
And what qualified as the most expensive neighborhood?
Kensington Palace Gardens, London, England, where the average home price is $85 million:
"Tucked between Kensington High Street and Notting Hill, this half-mile street is London's crowning jewel of residential excess. Even the richest Londoners secretly seethe at the regal mansions that line the street, since few are actually owned by Brits -- Middle Eastern and Swiss tycoons have grabbed first dibs. Strangely, the turnover of many homes is high, signaling that these aren't really homes, but rather fleeting investments."
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Thanks to Marginal Revolution Blog
FULL STORY: Top 10: Priciest Neighborhoods
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