Pavilion from the Ocean

Pavilion from the Ocean

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South Florida's housing recovery favors the rich


South Florida’s housing rebound has been remarkable.

Lured by Miami’s cachet as an emerging international gateway and luxury getaway, foreign investors ranging from Russian oligarchs to Brazilian supermodels to anonymous Channel Islands companies have rushed in with mounds of cash.

Along Miami Beach’s North Bay Drive and Sunset Islands, Key Biscayne and Gables Estates, the elite are shelling out millions of dollars to buy teardowns to make room for new Gatsby-esque spreads.

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