Portuguese lenders are offering thousands of repossessed homes at reduced prices after investment in real estate fell to its lowest level in a decade.

Portuguese banks are expected to sell around 10,000 houses and apartments this year, or 22% of total sales, compared with 6,000 homes last year, according to Portuguese property broker Re/Max Portugal.

Investment in Portuguese real estate declined 38% in 2012 from the previous year to just €125m, the lowest level for 10 years, according to Jones Lang LaSalle. Prices declined for a second straight year in 2012, losing 2.2% in value, according to Confidencial Imobiliario, which collects data on the Portuguese property market.

Banco Comercial, Portugal’s second-largest publicly traded lender, is reported to be selling more than 700 repossessed homes, offices and warehouses with discounts of as much as 12% below their market value to individuals who complete a purchase by the end of May.

The Portuguese Government is following in Spain’s footsteps by trying to attract foreign buyers to the country’s property market. It announced last year it would grant non-EU citizens who invest more than €500,000 in real estate special resident permits, or ‘golden visas.’