Rental prices in Lisbon are already adjusting to the crisis generated by COVID-19

João Pedro Matos Fernandes, the Minister of Environment and Climate Action considers that some prices "have nothing to do with what they were two or three months ago".

João Pedro Matos Fernandes, the Minister of Environment and Climate Action / portugal.gov.pt
João Pedro Matos Fernandes, the Minister of Environment and Climate Action / portugal.gov.pt
29 April 2020, Redaction

Rental market prices, namely in Portugal's capital Lisbon, have skyrocketed in the last few years, as has been in the case for the purchase and sale of property in the city. However, this is a scenario that is already changing due to the crisis generated by the coronavirus pandemic, with an adjustment in values requested by landlords. This has been reiterated by the Minister of Environment and Climate Action in Portugal (MAAC), João Pedro Matos Fernandes.

"Today, especially in Lisbon, some houses are already being put up for rent at prices that have nothing to do with what they were two or three months ago," said the MAP in an interview with the Portuguese newspaper Público.

According to the minister, "the investments that will be made or that have been made in the recovery of real estate will tend to turn into safer and more perennial values". He adds that the "long-term rental market will even emerge in the centre of cities and with it we will have much more lively historical centres and less travel", he added.

Article seen at: “O arrendamento de longa duração vai emergir no centro das cidades” (Público)

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