What the UK can learn from Lisbon, where house prices could still rise this year despite coronavirus
Lisbon’s rental sector was the first to feel the brunt of the outbreak. As tourism dried up, Airbnb investors moved their properties en masse to the long-term lettings market. The same has happened to London, though on a smaller scale.
Pedro Branco, of estate agency Engel & Volkers, said rental prices fell immediately by 15 to 20pc.
But house prices have so far been resilient, say agents. “Buyers might be trying to lower asking prices, but owners are not under pressure,” said Mr Penalva. Interest rates are low, the Portuguese government has introduced a wage protection scheme, and homeowners can