Last year more than 5000 homes were bought by the British in Portugal, according to the Office of National Statistics.

While some 80% of properties purchased by Brits are in the Algarve, new investor opportunities are believed to be opening up in the North of Portugal, in places such as Porto.

The number of people visiting Porto has increased dramatically this year according to the Portuguese National Tourist Office (PNTO). Over 60,000 people flew to Portugals second city during the in the first quarter of this year, partly thanks to an increase in the number of low-cost flights available. The city has seen major investment and infrastructure in the past five years, including the construction of a new river bridge and a new metro transport system.

Speaking at Portugals 1st Annual Chamber Property conference in London this month, Robert Lucy, Managing Director of Parc Investment Group said: "By and large, investing in Portuguese property is no longer a risky investment."