Russians have taken over from the British as the biggest buyers of holiday-homes in Alicante province, at least for one month this summer.

The majority of homes sold in Alicante this August were bought by Russians, reports the Spanish press.

The information comes from Jesualdo Ros, head of the regional developers’ trade body, who also said that Brits have fallen behind Scandinavian, Dutch and Belgian buyers.

Russians are said to be buying on some of the most up-market developments, as well as some of the cheapest.

With a glut of 18,000 new homes to sell in Alicante, the Russians are being welcomed with open arms.