Mansion Global Daily: U.S. Cities Where Inventory Is Returning, a Visit to Calgary’s Affluent Springbank Hill and More

Hong Kong Reduces Government Land Sales Amid Slowing Market

Hong Kong is pulling back on selling government land for development amid a slowdown in the property market. The government will only sell one residential plot in the last quarter of its fiscal year, which ends March 31, a site in Tsuen Wan that will have the capacity for 490 apartments. The pullback in government land sales is a response to declining demand and property values, which would be further strained by overdevelopment, officials said. South China Morning Post

Vin Scully’s Southern California Home Sells

Roughly two months after it hit the market, the Hidden Hills, California, home of the late Hall of Fame baseball broadcaster Vin Scully sold for $14 million. Originally listed for $15 million, the nearly 2-acre estate was bought by real estate developer Cary Lefton and his wife, Marla, who are already residents of Hidden Hills. The 11,615-square-foot French chateau-style home has seven bedrooms and nine bathrooms, and features include a movie theater, a wood-paneled library with a fireplace, a full-sized tennis court and a large pool. Dirt

Palm Beach Property Sells for Nearly Double Its Price in June 2021

An oceanfront Palm Beach, Florida, estate has sold for $66 million—nearly twice what it traded for 18 months ago. The buyer is a trust linked to Frank Marra, managing director of finance at the private equity giant Apollo Global Management, which opened offices in the Brickell section of Miami and West Palm Beach last year. Built in 1981, the 8,500-square-foot mansion last sold for $35.4 million in June of 2021, property records show. That means a $30.6 million gain in just 18 months. The property boasts 125 feet of waterfront on the Atlantic Ocean, plus has five bedrooms, eight bathrooms, a library and a 45-foot-long pool with a cabana. The Real Deal

Price Growth Continues to Slow in the U.K.

Annual house price growth in the U.K. marked a further “sharp” slowdown in December, mortgage lender Nationwide said, ending the year on a downbeat note. The impact of surging mortgage costs reversed some of the pandemic-led boom in the market, the lender said. The final month of 2022 saw prices falling 0.1% compared with November, their fourth consecutive monthly price fall and the worst run since 2008. Reuters