After retiring to Portugal, Bannatyne decided to brand out into the Iberian market, redeveloping an exclusive range of properties in partnership with real estate company Ideal Homes Portugal.
Bannatyne has sourced five houses in the town of Almancil that had been partly developed when the Portuguese recession struck. Work on the properties was abandoned due to the financial crisis, but Bannatyne is now nurturing them back to life, with a view to turning them into dream holiday homes for buyers to use either for themselves or as a rental investment.
Bannatyne said: "The recession hit Portugal pretty badly. However, all of us living here can see a marked upturn in the prosperity of the country. In my opinion property prices in the Algarve are selling below their true value and will rise quickly over the next few years.
"The recovery in the property market in southern Spain has been rapid and sustained. The effect is spreading to Portugal and the Algarve is at the beginning of a remarkable upturn. I have invested at a time when these properties are still within reach of those with an appetite for a place in the sun and an understanding of the need to buy at the right price and the right time."
Several of the properties, which each feature two sun terraces, three en-suite bedrooms, private garden and access to a generously sized pool, have already attracted interest from potential buyers.
Chris White, founding director of Ideal Homes Portugal, which is developing the properties in partnership with Duncan Bannatyne, said: "The Overseas Property Show is always a great place to connect would-be buyers with their dream Portuguese property, whether it’s a home built by a dragon or a unique local business with a rich history, like the fabulous Café des Ingles in Silves.
"Visitors to the show also get to grill the local experts who attend on everything from the state of the Portuguese property market to what the Algarve expat lifestyle really entails."
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