People who want to enjoy reduced living costs could find Bulgaria a suitable place to live, international property portal propertyshowrooms.com reported.

The cost of food and drink in places such as Sofia is much less than in many other European countries, it said, quoting a Teletext Holidays tourism company research.

Low cost of living would be of interest to anyone who planned to buy property in Bulgaria, suggesting that the location offered good value for money.

"People are becoming more adventurous when it comes to booking a trip abroad.", Ash Makkar, spokesperson for Teletext Holidays, said, as quoted by propertyshowrooms.com.

But Bulgaria, an European Union member since 2007, was also reported to have the largest rate of house price inflation in the world, according to a Global Property Guide study from 2007,  which claimed that property values increased by more than 30 per cent, according to the report.