Majorca 'most affordable European self-catering destination'

New research from the Post Office has revealed that Majorca is the most affordable European destination for self-catering holidays, which could highlight the island's potential for those looking for an investment opportunity.

According to the Self Catering on a Shoe String Barometer 2011, the average cost of a family shopping basket for one week is £44.23 in Majorca, putting it ahead of other Spanish destinations on the Costa Blanca, where the same items came in at £47.28.

Eggs, toilet rolls, milk, bread, water and cheese were among the products purchased as part of the survey.

With families increasingly looking for ways to cut back on holiday spending, there could be the potential for buy-to-let investment on the island.

And as the Knight Frank Global House Price Index recorded a 4.6 per cent fall in Spanish property prices over the past 12 months, now could be a good time for buyers with funds available who want to find property in Balearic Islands destinations.