I can speak about Italy right now: we should (they are still debating) froze employment tax, consider that as an employer for each 1$ i give to my employee I pay roughly 0.60/0.80 in tax, this means i am cutting my costs of 60/80%. We have frozen any mortgage or installment for business and individuals. Obviously this would not be a long term procedure but even if it holds for 5-6 months this gives a lot of possibility to invest.

About rent i can give you my experience: Most landlords here are boomers who don't need rent money so they prefer to keep prices high rather than rent for lower fares. I am confident those boomers will start panicking and lower rent.