Saint-Jean-Cap-Ferrat, France

The climate is Mediterranean, the peninsula scenically splendid, and the real estate prices astronomical. Saint-Jean-Cap-Ferrat is the second most expensive residential area in the world, bested only by Monaco. Known by the Ancient Greeks as Anao, this area of southern France was first settled by the Ligurians, and over subsequent centuries it grew into a seaside resort for the wealthy. By the height of the Belle Époque era, the peninsula was basically the country's high society headquarters. It all culminated in 1908 with the construction of a monument to luxury that still stands today: the Grand-Hôtel du Cap-Ferrat.