Russian investors head to eastern Europe

Eastern Europe has been identified as one of the main hotspots for foreign property investors in Russia.

According to Global Edge, more than one in five prospective buyers have searched the internet for information on the Bulgarian market.

The organisation stated that this is not a surprise, as there are a number of factors which make Bulgaria an ideal location for Russian investors.

Global Edge commented: "Its close proximity, cultural ties, cheap prices and historically booming property market have made it a perennial favourite."

Bulgaria was rated ahead of many of the more traditional overseas property hotspots, such as Spain, Cyprus, Italy and Portugal.

The country also attracted more interest than other eastern European nations including Montenegro, Croatia and Estonia.

This follows similar observations from various media outlets, including the Foreign Property Buyer website and Bulgarian newspaper the Sofia Echo.