Expert attracted to Portuguese property investment

An expert on real estate has stated that he is considering buying property in Portugal.

Mike Sales, head of property investments at Henderson Global Investors, told Reuters at its local Global Real Estate Summit that the Iberian country would be his number one choice for a "vacation residence or city bolthole".

"Portugal - east or west of the Algarve," he remarked. "I am looking at a piece of land there with a couple of friends because it is a quarter of the price of the Algarve."

The news provider asked a variety of people at the conference the same question about where they would choose to buy another property, with Europe and Africa proving to be the most popular continents.

It said that despite economic factors affecting the global real estate market, it appears people still dream of owning a second property.

Portugal's finance minister Fernando Teixeira dos Santos recently told Reuters that the country's economy is expected to start growing again later this year.

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