Many Britons buying overseas property where they plan to live permanently once they retire are attracted by far lower living costs.

In cost of living price comparisons, Parador Properties has found the UK scores badly alongside its European neighbours, including Cyprus, Portugal and Italy.

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The island of Cyprus, often regarded as expensive due to the need to import many commodities, still was 25% cheaper than the UK (£128.73 next to £170.17) when measuring prices for items like tomatoes, chicken, oranges, milk, bread, entry to a theme park for a family and a restaurant meal for two.

Spain comes second to Cyprus at £125.16, followed by Turkey at £108.99, Portugal £93.86, Crete £90.58 and the bargain location of Calabria in Italy at just £56.70.

A loaf of bread is best value in Turkey at an average cost of 14 pence, compared to the UK at 90 pence and Cyprus at 94 pence.

‘Clients often tell us that moving abroad assists them in retiring a few years earlier,’ says Jack Hamilton, managing director of Parador Properties (www.paradorproperties.com). ‘When you look at the costs of some basic items across the six countries where we now operate and compare them with the UK, you can see why.’

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