Middle Eastern buyers spent an average of £2.6 million ($3.3 million) on properties as hundreds of thousands of potential buyers from the region visited London over the past year, real estate consultancy Knight Frank said.

The number of people from the region passing through London Heathrow Airport between June 2022 and June 2023 reached 614,227, up 14% on the previous year, Knight Frank noted.

The real estate consultancy cited Chelsea Waterfront, a mid-rise apartment project where a three-bedroom property is listed for £3.07 million is currently popular with regional buyers.

(Reporting by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@lseg.com