According to a report by the Tecnitasa property valuation firm, there are now nine Spanish cities where average house prices exceed €6,000 per square metre. Sevilla, Oviedo and Zaragoza have joined the list which already includes Madrid, Barcelona, San Sebastián, Bilbao, Marbella and Santander. Not far behind, with average prices of €5,000 per square metre, are Girona, Salamanca, Baracaldo and Valladolid.

At the other end of the scale, prices as cheap as €600 per square metre can still be found in places such as Jérez de la Frontera (Cádiz), Torrent (Valencia) and Murcia, as well as some inner city areas of Cuenca and Sevilla.

The sharpest rise last year was recorded in Cádiz, where prices rose 30% to €3,900 per square metre owing to a shortage of developable land.

The most expensive street in Spain is the calle Serrano in Madrid (€9,500 per square metre), followed by the Paseo de Gracía in Barcelona (€9,000).