Li Galli Islands in Italy is for sale for only $268M

The real history goes back a bit further, to Greek and Roman mythology. Situated between the Amalfi Coast and the emperor's getaway on Capri, the islands, then known as the Sirenusas, were said to be the home of the mythical sirens, the musical half-beast half-women who lured mariners onto the rocks with their songs. The modern name, Li Galli, meaning "The Roosters," references this mythical past, as the sirens are often depicted as part bird, part woman.

For $268 million you can buy the Li Galli Islands in Italy. Photo: Curbed.com

Despite the trying economic times, 2011 was a standout year for extravagant private island estates—some of them thrust to market thanks to the bankruptcy of their owners.

Topping our list of favorites is the outrageously expensive Italian archipelago known as the Li Galli Islands. Lying just off the Amalfi Coast of Italy, the $268 million property was built by choreographer Leonide Massine in 1924, passed to fellow Russian dancer Rudolf Nureyev, later modified by the great Le Corbusier, and hosted stars like Greta Garbo, Ingrid Bergman, Sofia Loren, and Jacqueline Kennedy Onassis.

Not all of the five islands on this global list enjoy such a star-studded or mythical history, but we can guarantee slightly lower prices.