According to Regina Burke, director of Ocean Propertys, these apartments are good investments for Irish buyers owing to their location, about 20 minutes' drive from Faro airport. Burke claims the Algarve has a broad appeal for holidaymakers with golf courses, beaches, and leisure amenities nearby.

On offer in this phase are 100 studios and two-bed apartments. Studios are 50sq m (538sq ft), while two-bed apartments are also spacious at 90sq m (968sq ft).

Under the scheme, apartments must be leased back to the Albufeira resort for the first 10 years. Rental yields of 4.5% a year are guaranteed for 10 years . . . a net return of around 12,500 for a two-bed unit . . . and owners are allowed two weeks' use of the apartment every year from October to March, or at a 50% discount in high season. Service charges are waived for 10 years.

Albufeira has indoor and outdoor pools, gardens, tennis courts, pool bar, kids' club, Turkish baths, gym, sauna, beauty salon, bars, restaurant, parking, internet facilities, bank, chapel and security.

Financing is available through the Millennium BCP Bank which provide up to 75% mortgages with three-year interest-only loans at a 3.75%.

Price: studios from 134,800, one-beds from 194,600, twobeds from 277,800.

Agent: Ocean Propertys 021-4530438