Among the many beneficiaries of South Florida's thriving housing market, few have gained as handsomely as Barry and Elissa Ragone. According to public records from the Miami-Dade County clerks' office, they recently sold their six-bedroom property for $1.55m (€1.3m, £880,000) - a 24-fold increase on the $64,000 paid for it in 1979.

Just as impressive is the experience of Richard Yousoufian who bought a one-bedroom condominium in Miami Beach for $195,000 this year and sold it for $233,700 weeks later.