We investigate language-agnostic algorithms for the construction of unsupervised distributional semantic models using web-harvested corpora. Specifically, a corpus is created from web document snippets, and the relevant semantic similarity statistics are encoded in a semantic network. We propose the notion of semantic neighborhoods that are defined using co-occurrence or context similarity features. Three neighborhood-based similarity metrics are proposed, motivated by the hypotheses of attributional and maximum sense similarity. The proposed metrics are evaluated against human similarity ratings achieving state-of-the-art results.