Investing in not-so-trendy cities in Portugal

I'm looking forward to discuss points of view on 2nd and 3rd ranking cities in Portugal. 

As far as I know, 1st rank cities in Portugal can be counted with the fingers of 1 hand (Lisbon, Porto, Key cities in Algarve). I think there could be more investment going on other smaller cities, but there is not a lot of information available about these markets, hence the reason that only local and more risk-taking investors are making any moves. 

My company is already investing in smaller cities where I can expect good returns RIGHT NOW, but also a huge potential for appreciation on the long run.

Are you a national investor or are you investing from abroad? What makes you consider or even discard investing in 2nd and 3rd rank cities in Portugal?

Can't wait to read your comments :)

Greetings,

Ricardo Matos