Brits considering buying property overseas may have a part to play in an anticipated increase in demand for smaller real estate in Bulgaria.

Small properties in the country have recently accounted for 34 per cent of the country’s real estate sales, however they are limited in supply as few projects are due for completion, property company Address suggests.

It also reports that buyers are working hard to make their money go further with 87 per cent of investors asking for discounts on asking prices.

In the first three months of the year the average discount achieved was €3,000 (£2,618).

“The supply of such types of studios is decreasing while new construction for the moment is rather dormant. This is likely to create a demand that is likely to surpass initial forecasts,” said marketing manager Kaloyan Bogdanov.

Bulgaria has a population of around eight million and its capital city is Sofia.

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