Spain's most expensive property regions revealed

Cabo Formentor in Mallorca and Passeig de Gracia in Barcelona are Spain's two most expensive places to buy a house and among the top 15 most pricey in Europe.

Individuals looking to buy real estate in Spain could be interested in new research from Engel & Volkers AG, which revealed that the Passeig de Gracia is Europe's 14th most costly place to establish home.

On average, real estate in the region will set buyers back 14,000 euros per square metre.

Spain's second-most expensive area is the Formentor bay at the extreme north end of the island of Mallorca, at 12,000 euros per square metre, making it Europe's 15th-most pricey area to buy.

France has most of the top 15 most expensive locations to buy. Fourth and fifth on the list are the Cote d'Azur towns of Saint-Jean-Cap-Ferrat and Cannes, the latter very closely followed by the Champs-Elysees and Avenue Montaigne in Paris.

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