Legend has it that the ancient name for Lisbon, Olisipo, was given by the Greek hero, Ulysses, who paused there on his voyage to seduce the nymph Calypso. Heartbroken at his departure, she changed herself into a serpent whose coils formed the seven hills of the Portuguese capital.

Today, those slopes, rising from the Tagus river, make Lisbon one of the most interesting cities in Europe. They’re stacked with pretty rows of tiled roofs and pastel-painted palaces that tumble down into the neo-classical palm-lined splendours of the Baixa, or lower, part of town. With its beguiling tawny light, seaside location, active street life and cultural attractions – soon to be enhanced by the outstanding Berardo modern art collection – the city regularly draws comparisons with Barcelona and is now the fifth most popular city in Europe for mini-breaks. But without the kick-start of an event, such as the Barcelona Olympics, or a surging national economy, Lisbon’s potential as a property market has by contrast been overlooked.