The Portuguese property market has been described as one of the safest in Europe by one of the region's real estate agents.

According to a report on Property Wire, investors looking for a European safe-house should look no further than the Iberian nation and in the current economic climate individuals are able to get good value for their money.

Jim Edmeades, of Homes for Sale in Portugal, made the comments while attempting to dispel the myth that when buying property in the country investors often end up paying an additional ten to 15 per cent premium in fees and taxes.

The website reported him saying that market and holiday rentals remain buoyant and despite volatile currency markets, properties in Portugal continue to represent good value for money and ideal investment prospects.

"Whether you are looking for property for sale, a holiday rental or an overseas investment, the Portugal property market is still considered to be one of the safest markets in Europe."

The European Commission recently said that Portugal's economy will fare better in 2010 than previously believed, with growth of 0.3 per cent expected.