Prince Harry and Meghan Markle are unlikely to cause any waves in a Portuguese seaside town where they are rumoured to have snapped up a multi-million pound property – due to the area attracting much richer buyers an estate agent has claimed.

One local estate agent, who has worked in the industry for a number of decades, speculated the Duke and Duchess of Sussex would have spent about four million euros (£3.33 million) for a property at one of a number of exclusive resorts in the town of Melides.

He said: “In recent years we have seen A-listers from the States buying homes or plots which are essentially closed environments. It’s very high-end and homes range from four to 20 million euros.

“There have been rumours in recent months that Harry and Meghan are among the latest buyers. But it’s unclear if they have bought a home that is already built or if it is yet to be built.

“We have much richer and much more famous people buying here for sure. I think they will have zero impact, to be honest.”

He told the Daily Mail: “If someone like Jeff Bezos bought here then, yes, there could be some impact – but not Harry and Meghan.”

Business owners said the rich who live in gated private estates do not usually rub shoulders with locals in the square.

A local seafood restaurant owner said: “The rich from the resorts don’t eat with the poor.”

Another local businessman said it was a magnet to the rich due to the privacy on offer.

He said: “They can walk around unbothered. People are not fussed. The only time there was any fuss about someone coming was when Cristiano Ronaldo turned up and that’s because he’s Portugal’s football hero.

“Locals protect the privacy of the visitors so you won’t catch anyone talking about seeing Meghan or Harry or anyone else.”

Jose Santos, head of the local tourism board, added: “What all the foreigners, and nationals, too, value in the Alentejo, is luxury. That’s not an ostentatious luxury but the luxury of serenity and of a quiet, safe country, where safety is very important.

“There’s also a certain protection that many public figures feel in the Alentejo, where their personal lives won’t be scrutinised as much as in other places.”