Buying in PortugalLuxury apartments in a hotel and golf resort near Albufeira on the Algarve, Portugal, cost from €695,000 for a two-bedroom apartment and €995,000 for a three-bed.

The fully-furnished apartments are being built in a development called Pine Cliffs Residences, which consists of 13 apartment blocks in a 173-acre pinewood resort overlooking the sea. It is being built on a clifftop, next to the resort's clubhouse. Starwood Hotels & Resort will manage the project through the Sheraton Algarve hotel.

The developer is promising a 5 per cent guaranteed rental return for the first few years, according to agent Lisney Overseas Residential. From the fourth year, owners can get a share of the resort's rental pool profit.

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