The 85-year-old man was at home on Westfield Road at around 4.30pm on Thursday when a man called at his door claiming to have been carrying out maintenance work within the common stair.
The man asked for access to the property to check water pressure and was allowed entry by the occupant.
After asking the elderly resident to go into the kitchen to check his taps, the suspect then left the flat.
A short time later the victim realised that various items of jewellery and a three-figure sum of cash had been taken from the bedroom.
Officers believe two men were responsible for this theft following information from a neighbour who saw the pair within the common stair prior to the incident.
The first suspect is described as having a tanned complexion, between 5ft and 5ft 2ins tall with a heavy build, broad shoulders, dark shaved hair and a clean-shaven face. He was wearing a dark bulky Barbour-style jacket, dark trousers, a lanyard round his neck and spoke with a Polish accent.
The second suspect is described as white, mid-forties to early fifties, 5ft 7ins tall with a slim build, grey scruffy hair that was shaved at the back and sides, a wrinkled face and spoke with a Scottish accent.
Detective Constable Jim Philp said: “We believe that while the first suspect was distracting the victim within the kitchen, the second male entered the property and stole the items from the bedroom.
“Officers are currently carrying out local enquiries to determine whether any other properties were targeted by these men and to establish their identity.
“Anyone who recognises their description or who has any information that can assist with our investigation is asked to contact police immediately.”
Those with information can contact Police Scotland on 101 or alternatively, the charity Crimestoppers on 0800 555 111.