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THE latest report by property platform, Idealista has revealed the cheapest place to buy property. The town of Alcaudete de la Jara, near to Toledo offers the most affordable property in the country according to the research published on Tuesday, January 24.

The town, located in the autonomous region of Castilla-La-Mancha, boasts the lowest average house prices in the country, costing just €329 per metre squared.

The town is located just under 150 kilometres southwest of Madrid and with just 1,700 residents, it makes the perfect escape from the urban jungle, with a sleepy traditional lifestyle. The town has a rich cultural history on the edge of the Moorish empire and has fascinating architecture.

Several of the other cheapest towns to buy property in are also located in Castilla-La-Mancha, followed by two towns in Cordoba Province.

The report also published data on the most expensive places to rent property, perhaps unsurprisingly placing Barcelona at the top end of the scale, where property costs an average of €19.35 per metre squared, followed by Madrid at €16.38 per metre squared.