Spanish estate agency has released a report showing average second-hand property sales prices per region indicating the most and least expensive regions, based on the units they have sold.

The five cheapest regions are Castilla-La Mancha (€1,022/m²), Extremedura (€1,176/m²), the popular tourist area of Murcia (€1,237/m²), Aragón (€1,270/m²) and the Canary Islands (€1,292/m²).

The report also names the five most expensive regions: the Basque Country (€2,923/m²)leads the way, some way ahead of the Balearic Islands (€2,052/m²), Madrid (€2,020/m²), Cantabria (€1,825/m²) and Catalonia (€1,786/m²).

Though limited to a sample size of the properties that has transacted and excluding new homes sales, the report is a reasonable indication of property trends. Murcia and the Costa Cálida region appear to be undergoing the worst price falls in the country, down over 14% in the year to the end of January, indicating that the market here has still not fully adjusted to the excess of properties on the market since the global crash of 2007/8.