People who want to enjoy reduced living costs could find Bulgaria a suitable place to live, new research has revealed.

According to Teletext Holidays, the cost of food and drink in places such as Sofia is much less than in many other European countries.

For example, a pint of beer in Bulgaria was said to cost an average of 49p, compared with £1.56 in Spain.

In addition, the study found that a three-course meal in Spain costs £17.50, which is more than the double the amount it would cost in Bulgaria.

The figures could be of interest to people who are planning to buy a property in Bulgaria, as they suggest it offers good value for money.

Ash Makkar, spokesperson for Teletext Holidays, commented: "People are becoming more adventurous when it comes to booking a trip abroad."

Bulgaria, which joined the European Union in early 2007, was recently found to have seen the largest rate of house price inflation in the world.

The Global Property Guide revealed that last year, property values increased at a higher rate than in any other country.