Research from foreign exchange firm Moneycorp found that the average Spanish house price had surged 89% to £119,519 (€173,900) over the past four years, it found, while properties in certain regions of France had soared by as much as 144%.

In Spain, Malaga was found to have experienced the greatest surge - up 144% at £132,715 (€193,100) - followed by Alicante, where the average property was now worth £136,247 (€198,239), up 119% since 2001.

Montpellier saw the steepest increase in France. There, property prices have jumped 144% to £147,291 (€214,309). La Rochelle, meanwhile, saw a 126% lift to £132,619 (€192,960).