One out of four russians interested in purchasing property abroad during the first quarter 2009 focused their search on Spain, according to the Russian property consulting firm Miel DMP, which specializes in property abroad.

The company cites the collapse in the real estate market in Spain as the main cause for the surge in interest for the Spanish property market, which has resulted in some properties being cheaper than in Bugaria and Montenergo.

Spain has become the most popular location for Russians eyeing property abroad, after France (20 per cent), and Bulgaria (15 per cent).