The Peseo Maritimo is being renovated. | Majorca Daily Bulletin reporter

Location, transport, services and the reputation of the neighbourhood are the key factors that determine the price per square metre when buying a house.

According to a report by the housing portal Tecnitasa, published by Idealista, the ten most expensive streets are in the centre of large Spanish cities or in coastal areas with the best quality of life.

Topping the list Calle Serrano in Madrid, where the average price per square metre is 11,4000 euros. It is closely followed by Paseo de Gracia in Barcelona, with a cost of 9,915 euros per square metre. Third place is shared by three streets in San Sebastian.

The fourth most expensive street is in Plaza de Euskadi, in Bilbao, with a price of 5,780 euros/m2. Fifth place in the ranking goes to Malaga, specifically to the area between the centre and La Malagueta, priced at 5,500 euros per square metre.

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Close behind the capital of the Costa del Sol is Valencia, which has three streets valued at 5,250 euros/m2. Seventh is Cadiz where for 5,200 euros/m2 you can buy a house in the Paseo Marítimo areas.

El Sardinero, in Santander, occupies eighth place with a price of 5,115 euros per square metre, followed by the first line of Puerto Banús, in Marbella, where the average price is 5,000 euros per square metre.

And the Paseo Maritimo in Palma is in tenth place where average property prices are 4,950 euros per square metre.

Mallorca is continuing to attract mounting interest from foreign buyers with the newest market being the United States helped by the direct flights to Palma during the summer.
And the Paseo Maritimo being renovated, prices are expected to rise further as works near completion.