There are a number of high quality courses in the region, some with property on them already such as Praia D'El Rey and CampoReal to the north of the city along the Silver Coast or Costa de Prata. Bom Sucesso is a very interesting project as well, a huge array of very talented designers have been brought together to develop one of the most courageous and innovative golf developments I've personally ever seen. The golf course isn't playable yet, it should be by June 2008, but from an in depth trip around the course it does look like it is going to be a very good one. The way in which the property is being hidden on the course is also very innovative. This isn't going to be one for the Portuguese purist however, none of your standard Portuguese property design to be found here.
To the south of the city, along the Blue Coast or Costa Azul, is if anything, possibly even more interesting. The news that the new airport is to be located in Alcochete, to the south of estuary to the river Tagus, has come as somewhat of a boon to those in the south, although the addition of a new bridge should ease matters somewhat for those heading north.
The TroiaResort is, apparently, very worthy of a look (it was closed for renovations while I was there) but the plum development here may well be the new project currently underway at Pinheirinho Golf and Leisure Resort. It is a truly marvellous site and the beach, although 500 metres from the golf course, will be a real attraction. It is being done in a natural and ecofriendly manner, which is in itself quite unusual. The golf course won't be ready for a few years yet, they're currently only clearing the site, but if properly done this could well be one of the best courses in Portugal in years to come.
Another notable to the south of Lisbon is the more mature Quinta do Peru golf and country club which has a range of villas around the course. This is a lovely course to play, unless you have a fear of bunkers, and the climate in this part of Portugal makes it a joy to play, even in the end of January. It is also a lot easier to play in the summer than the Algarve, which can become unbearably hot in July and August.
You'll find our columnist, Diarmaid Condon, writing about the Lisbon Coast in the Sunday Business Post this weekend (it's at this link). Ginetta Vedrickas has also done a piece for the OverseasCafe.com website based on this wonderful stretch of Atlantic coastline, click here to see it.