Despite the number of properties sold in Portugal, and taking into consideration their value, the ‘luxury’ property market prices fell by between 10 per cent and 15 per cent over the last year.

A study into ‘The Luxury Tourist Report Property Market’ found that despite these falls; the Golden Triangle in the Algarve has remained somewhat unaffected by the turmoil facing the rest of the world’s property markets.

Portuguese news agency, Lusa, stated that “The luxury tourist resort market reported a generalised trend of contraction, which was influenced by the adverse economic and financial conditions and the increased restrictions to obtain credit, both on a national and international level.”

Property in the Algarve, however, is extremely popular with tourists and investors alike and it is thought that this is why it has not been affected by falling prices. The Golden Triangle comprises of Vale do Lobo, Quinta do Lago and Almancil; all of which are fantastic investment opportunities if you are looking to purchase property in Portugal as the houses in these areas will keep their value, if not increase.

Details of property for sale in the Algarve, and across Portugal, can be found on the Portugal listings of Rightmove Overseas. To save money when buying in Portugal, Brits are advised to use a currency specialist when transferring their pounds into euros. For more information on this, contact Smart Currency Exchange.

To understand the full step-by-step process to buying a property in Portugal, collect The Overseas Guides Company’s ‘Portugal Property Buying Guide’