Whilst it is Russian investors buying property in London or the South of France that tends to get the headlines in the western media, Bulgaria remains the most popular destination for Russian buyers. This is mainly due to its continued popularity as a holiday and weekend destination and, of course the fact that Russian culture is widely catered for due to the unique historical connections between the two countries, with Russian also spoken by most Bulgarians.

Dylan Cullen, founder of Appreciating Assets, comments on the successful sales trip: “Russian is definitely where it is at for us at the moment, so much so that we’re ensuring our clients’ properties are exhibited directly to Russian buyers. That means taking them to Moscow, a move which paid of successfully for them last month. Most people in Russia are not oligarchs, so they’re not buying properties in Mayfair or Chamonix, that’s the minority. Middle class Russians just want a holiday home somewhere warm, that’s not too far away. Bulgaria is to them what the equivalent of Spain is to us. But, they’re not buoyed by credit like Irish buyers were during the Celtic Tiger, so they pay cash; it is price, rather than quality determines whether a sale is successful or not for them.”

*BRIC is acronym given to economies that are forecast to the fastest growing in the world over the next decade, namely Brazil, Russia, India and China

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