Research shows that the cost of living is cheaper in Spain

The research highlighting the cheaper cost of living is set to attract both families and property investors. The lower cost of living in Spain is set to attract more overseas investors with the price of basic household items being significantly lower in Spain than in the UK. Data from the Post Office Family Holiday Report 2012 states that the Costa del Sol is one of the more cost-effective places to visit with a family with the price of holiday essentials and the weekly food shop being lower than that in the UK. The report took into consideration how much it costs to embark on a self-catering holiday in a number of European destinations. The Costa del Sol proved to be the cheapest option for items such as ice-cream and for dining out. C’an Picafort in Mallorca was said to offer the best value for a weekly shop, closely followed by the Costa Blanca and Menorca. Research suggests that a typical family shop in C’an Picafort would cost the equivalent of almost £58 whereas the same shop in Brighton would cost more than £89. Whilst this is set to encourage tourism to the struggling country, it is also set to draw more British property investors who may be enticed by the economical living costs. Investors purchasing property in such Spanish locations as the Costa del Sol could benefit from renting their investment property out to holidaymakers who will also benefit from the cheap self-catering option on offer in Spain at the moment. On the other hand the cost of living in Limassol, Cyprus and in the Greek island of Corfu were among the most expensive whilst the Algarve in Portugal was a cost-effective location with the cost of living being similar to that in Spain.