Property in Spain is becoming an increasingly attractive option for Russian buyers looking for overseas residences, it has been claimed.

According to Prian.ru, consumers from the country are showing an increased interest in second homes in European nations and Spain is a popular destination, reports the International Herald Tribune.

The publication reported that of the 400,000 searches on its site, 6.5 per cent were looking into property in Spain.

Mikhail Kelim, head of Prian.ru, commented: "[Russian buyers are] reading analytical articles, checking out market situations and are not just buying because the country is cheap or fashionable to do so."

Recent reports have shown that the overall price of housing in Spain has risen in the last year but those in coastal areas, new-builds and big-city developments can still be purchased for less than the same period in 2007.

The overall price of property in Spain rose by 2.4 per cent on the figures from the year before, according to Property Showrooms.

Torremolinos is preparing for an influx of tourists coming take part in the local festival, which includes a day of celebration in honour of San Miguel Arcangel.

The week of festivities begins on September 23rd and ends September 30th, reports World Events Guide.

During the day, the resort will see feature a number of events and entertainments including fairground rides.

Visitors to the area will also be able to witness the Romeria, a pilgrimage of horses and gypsy caravans, some of which will be drawn by oxen.

The penultimate day of the week will be held in honour of the patron saint, San Miguel Arcangel.

Up to 200,000 will take part in a trek up to the pinewoods of Los Manantiales, many of whom will be dressed in traditional Andalucian garb.

The increased number of tourists is likely to be welcome news for those with buy-to-let properties in the region as their residences are likely to be in higher demand in this period.

In related news, FC Exchange recently stated that it had seen a rise in the number of UK citizens considering moving abroad, a trend which it attributed to the “wet and depressing weather” at home.

A Scottish couple have recommended Spain as an ideal location for buyers looking for a cut-price holiday home overseas.

John and Janet Wilson from Glasgow recently picked up a property in the Costa Blanca for three-quarters of the asking price, reports the Sunday Mail.

The couple ended up spending just £103,000 on a property in new-build development with a dining area and kitchen, two bedrooms and a balcony.

Ms Wilson commented: “We’re so pleased with our bargain. A saving of more than 25 per cent isn’t exactly small change - it made a world of difference to us.”

She added that a second home in the European country had been the couple’s dream for years and that now seemed like a “perfect time” to invest.

Ms Wilson stated that it was both an investment and an opportunity to get a bit of sun.

Recent reports have found that while the overall property price of residences in Spain has risen, coastal properties and those in new-builds can be purchased for less than this time last year.