When discussing home prices in Long Beach, the first place that comes to mind is Naples Island. This artificial island, developed in the early 1900s to resemble Venice, Italy, features homes lined along canals with gondolas and yacht docking facilities.

The median home price in Naples ranges from $2 million to $3 million, and it's not uncommon for lots directly on the canal to exceed $4 million. Considering that the overall median home price in Long Beach is around $800,000, this represents a difference of two to three times.

Belmont Shore is also considered a high-end residential area representing Long Beach. This neighborhood, developed along the beach, is conveniently connected to the commercial district on Second Street, and the median home price is reported to be between $1.5 million and $2 million. It is more accessible than Naples, leading to steady demand for actual residents.

Park Estates and the area near Virginia Country Club are also worth noting. Although this area is slightly removed from downtown Long Beach, the quiet residential environment with golf clubs and larger lot sizes has allowed long-standing affluent families to remain. The median home price is estimated to be between $1.3 million and $1.8 million.

The background for these areas becoming affluent neighborhoods lies in the coastal premium that has developed independently of the Long Beach port economy. Naples and Belmont Shore have been developed as vacation homes for the wealthy since the early 20th century, and due to the scarce location conditions of canals and beaches, supply has hardly increased. In contrast, areas north of Long Beach or inland have maintained relatively lower price ranges due to their industrial and logistics-based economies.

• Naples Island: Artificial island along the canal, median $2 million to $3 million
• Belmont Shore: Commercial district adjacent to the beach, median $1.5 million to $2 million
• Park Estates and Virginia Country Club: Near golf clubs, $1.3 million to $1.8 million

Among Korean investors, nearby Irvine or Palos Verdes are more familiar choices than Long Beach, but recent market trends show a gradual shift of interest towards Belmont Shore due to beach access and relatively lower entry prices.

The gap with general areas seems unlikely to close in the future. The location by the canal and beach is an irreplaceable resource, so even if prices in inland Long Beach rise, the premium for Naples and Belmont Shore is likely to be structurally maintained.

For residential purposes, it is practical to prioritize the convenience of living in Belmont Shore, while for investment or long-term holding, the scarcity of Naples should be considered. However, it is important to factor in the unique insurance and maintenance costs associated with coastal areas in any region.