Issue link: https://maltatoday.uberflip.com/i/1495033
16.3.2023 6 MARKETS Symbol Volume Value Trades High Low Open Closing Change Code Traded Traded Trades Price Price Price Price EQUITIES GO 10 27.80 1 2.780 2.780 2.780 2.780 0.000 HSB 1,000 740.00 1 0.740 0.740 0.740 0.740 0.000 MIA 150 840.00 1 5.600 5.600 5.600 5.600 -0.050 PG 290 603.20 1 2.080 2.080 2.080 2.080 0.000 CORPORATE STOCKS G32GA 147,600 155,108.40 6 105.120 105.000 105.000 105.120 0.120 CORPORATE BONDS AX26A 3,000 2,565.30 1 85.510 85.510 85.510 85.510 -9.490 BV30B 11,100 9,990.00 1 90.000 90.000 90.000 90.000 -2.000 DF26A 15,000 14,999.00 2 100.000 99.990 99.990 100.000 0.050 GH27A 25,000 24,375.00 2 97.500 97.500 97.500 97.500 0.000 HF27A 7,100 6,851.50 2 96.500 96.500 96.500 96.500 -1.350 HF28A 4,300 3,810.23 1 88.610 88.610 88.610 88.610 -7.390 HP25A 15,200 15,184.80 2 99.900 99.900 99.900 99.900 0.050 IB32A 15,000 14,895.00 2 99.900 99.000 99.000 99.900 0.900 IH25A 3,000 3,030.00 1 101.000 101.000 101.000 101.000 -1.000 IH26B 4,100 4,017.59 1 97.990 97.990 97.990 97.990 -0.010 MO31A 5,000 4,711.50 2 94.250 94.000 94.000 94.250 0.250 26A 15,000 14,400.00 1 96.000 96.000 96.000 96.000 -0.500 MY32A 4,600 4,473.50 1 97.250 97.250 97.250 97.250 0.000 PC26A 5,000 4,779.30 2 95.600 95.500 95.600 95.500 -2.000 SD27A 18,000 17,280.00 2 96.000 96.000 96.000 96.000 0.000 SF27A 13,400 12,745.00 4 96.000 92.500 96.000 92.500 2.490 ST27A 19,000 18,675.00 4 99.500 97.500 97.500 99.500 2.000 TG26A 5,600 5,488.00 1 98.000 98.000 98.000 98.000 0.000 TI27A 5,000 4,550.00 1 91.000 91.000 91.000 91.000 -8.000 Malta Stock Exchange Regulated Main Market Trading Date: 8 Mar 2023 Weakening pound hands foreign homebuyers £40,000 discount despite an increase in property prices THE latest research by lettings and estate agent, Benham and Reeves, has shown that despite house pric- es continuing to climb over the last year, foreign buyers currently looking to the UK property market are saving a considerable sum due to the weaker pound, enjoying dis- counts as high as £40,000. Benham and Reeves analysed current property market values and how they compare to this time last year, with the research showing that since February 2022, the aver- age UK sold price has increased by 7.8% to £294,329 today. Even in a slower London market, the average value of a home has increased by 4.8%, commanding £543,099 in current market condi- tions. However, while domestic home- buyers have had to contend with the increasing cost of climbing the ladder, exchange rate fluctuations and a weakening British Pound compared to some currencies have presented an opportunity for for- eign buyers to secure a saving. In February of last year, the av- erage UK house price of £273,066 would have required a buyer from the United States of America to spend $369,459. Today, however, the higher average UK house price of £294,329 would see them spend just $355,079, a saving of $14,381 (3.9%) or £12,161, despite the in- creased value of UK bricks and mortar. is saving is even higher in an more inflated London market, where purchasing at the current London average of £543,099 would require them to spend $655,195 versus the $700,993 they would have spent in February of last year, a difference of $45,799 or £38,730. Buyers from the UAE have also benefited to the same extent, sav- ing -3.9% or AED 52,717 on their purchase, climbing to AED 167,986 (-6.5%) in London. at's the equiv- alent of £12,142 saved on the aver- age UK home or £38,690 on the av- erage London home. e UK continues to be a popu- lar destination of choice for Hong Kong homebuyers and they too have seen the cost of purchasing a UK home fall, down by -3.3% when compared to this time last year, a saving of HK$95,145 or £10,254. Again, in London, Hong Kong nationals are enjoying savings as high as 6% on the average cost of a home in the capital, reducing their purchase price by HK$325,801 or £35,111. However, not all foreign buyers are benefiting to the same extent. e Euro has failed to provide a discount on the average UK house price, with European buyers paying 1.9% more today versus a year ago, while those looking to London are seeing a marginal saving (-0.9%). Foreign buyers from China are paying the equivalent of £10,868 more today versus a year ago on the average UK home, With Japanese buyers also paying the equivalent of £5,391 more today. Director of Benham and Reeves, Marc von Grundherr, commented: "We're yet to see any notable re- duction in house prices and, in fact, the latest sold price figures show that they have continued to climb across both London and the UK as a whole. is demonstrates the te- nacity of the property market even during times of economic uncer- tainty and highlights why so many foreign buyers look to the UK when investing in bricks and mortar. We've seen a steady stream of foreign interest returning to the market, particularly across Lon- don, pretty much since Covid travel restrictions were lifted. However, a weakening pound has enticed them to an even greater extent, as many are now enjoying a substantial dis- count when purchasing versus the price they would have paid a year ago when property values were lower."