Any realtor will tell their clients that the three most important parts of any property are location, location and location. It’s a bit of a cliché but, like most clichés, it attained that status by virtue of being true. Since modern cities came into existence, some areas have been regarded as more desirable than others and, thus, have been able to demand more value for their property than others. This shifts over time. The inner-cities were once the more desirable urban locations, particularly when independent forms of transportation weren’t as readily available as they are today. Today, the most expensive parts of any city tend to be certain suburbs that lie outside of the inner city and, quite frequently, the inner city areas have become less desirable among the very wealthy. Some neighborhoods, however, are exclusive even relative to the standards of the wealthy.

The single most expensive place to live in the world is Kensington Palace Gardens in London, England. Like many such locations, the homes here don’t usually represent the dwellings of locals and, oftentimes, aren’t even full-time dwellings at all but purchased for investment value. This area is famous for being a preferred investment location for Middle-Eastern royalty and oil billionaires and business magnets from all over Europe. If one chooses to pursue investment in these properties, the axiom that it takes money to make money applies to the extreme. The average home price starts at just about $100 million.

For Americans, there are several locations near the top of the list that are within the country. The price of the average home in these areas, however, rather betrays the difference between the very wealthiest individuals and those near, but not at the top. One would likely have a hard time spending more money on an American house, on average, than they would on Jupiter Island in Florida. The average value is around $6 million per home, pocket change compared to Kensington Gardens. Jupiter Island is the stereotypical playground of the wealthy, characterized by beaches, golf courses and yachting. The former President George HW Bush owns a residence here.

On the other coast, Pacific Heights is far more desirable a location for the rich and famous than is the better known 90210 of Beverly Hills. This neighborhood is well-known for being one of the most fashionable districts in San Francisco, a city whose real estate prices are notoriously high, even in the middle-class areas. Homeowners here spend an average of just over $4 million on their homes. The attractions include close access to Fillmore Street and a view of the Golden Gate Bridge, the most famous landmark in the city.

Back on the East Coast, Connecticut is well-known for being a preferred place among the wealthy. This is the heart of East Coast high society, yachting, summer homes, debutante balls and all the rest. Homes in Belle Haven, the wealthiest neighborhood in Greenwich, average around $5 million. It’s within an hour’s drive of Manhattan and the regional activities span the seasons, from skiing to golf.

Though they don’t appear on the top of the list, some other expensive areas include Manhattan itself, Santa Fe, New Mexico and San Diego’s La Jolla neighborhood.

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