Spain and Portugal offer lower living costs

New research has found that Spain and
Portugal could offer homeowners significantly lower living expenses than other
parts of Europe.  

There are lots of criteria to
consider when buying an overseas property.  The cost of the property itself, the ease of travelling from
the UK and exchange rates are all important factors to take into account.

And, it’s important that you
consider the cost of living in the country where you’re buying.  New research has found that Spain and
Portugal could offer homeowners significantly lower living expenses than other
parts of Europe.  Keep reading to
learn more.

Spain and Portugal the cheapest place for groceries

The report by Post Office Travel
Money compared the cost of a basket of 20 supermarket-bought household items,
including alcohol, for a one-week trip for a family of four.

The survey found that the items
would cost just £56.67 on the Spanish island of Mallorca, compared with £104.29
in Cyprus.  After Majorca, the next
lowest cost of living was on the Portuguese Algarve, where the basket of items
cost £57.78.

Other Spanish regions fared well
in the survey, with the Costa Blanca coming third (£65.31) and the island of
Menorca coming fourth (£66.71).

The Daily Mail reports that buying bread for a family of four for a
one-week stay cost as little as £3.55 on the Mediterranean island of Gozo but
as much as £13.25 in Tuscany in Italy.

Pizza in Italy was twice as
expensive as in Portugal, while milk in Mallorca was almost a quarter of the
price that you would have to pay in Cyprus.

Post Office Travel Money head
Andrew Brown said: “The variations we found in supermarket prices mean that
families will be well-advised to check prices…” and suggested that families
“should choose their destination carefully.’

“Mallorca and Portugal are great
value options but Greece is looking more expensive.”

If you’re planning to buy an
overseas property, it’s useful to know what the cost of living are in that
destination.

This report shows that it may be
up to twice as expensive to live on a day to day basis in some parts of Europe
than in others.