Updated: June 4, 2024

Thinking of a home in the epicenter of Lisbon’s history? Baixa might just be the place for you. It’s long been a favorite for foreigners and a renowned neighborhood in Lisbon. With its heart centered around some of the city’s most beautiful squares, the rich tapestry of Baixa makes it a sought-after for real estate investment.

Selecting the ideal location in this Baixa, whether for rent or purchase, does raise some key questions: What kind of buildings are typical? How do prices differ? What’s the current pulse of the real estate scene? And what truly sets living here apart?

An In-Depth Look at Lisbon's Baixa Real Estate

The Lisbon real estate has something for every buyer and Baixa is one of Lisbon’s most iconic neighborhoods, celebrated for its historic charm, cultural significance, and bustling activity.

You can only really talk about Baixa if you mention Chiado. They’re adjacent neighborhoods in Lisbon, so they seamlessly blend into each other.

The distance between them is very short, and you can easily walk from one to the other in minutes. Specifically, if you’re at the heart of Baixa, like Praça do Comércio, and want to reach Largo do Chiado in Chiado, it would be approximately a 10-minute walk uphill, depending on your pace.

Both are well-connected by public transport links, but there’s so much more to each area worth exploring in detail.

Baixa

Located close to many of Lisbon’s iconic landmarks, this neighborhood is characterized by its grand squares, wide avenues, and neoclassical architecture. The streets are laid out in a grid-like pattern, unusual for Lisbon, that makes it easy to navigate.

Baixa’s main thoroughfare, Rua Augusta, is a lively pedestrian street lined with shops, restaurants, and street performers.

The majestic Praça do Comércio, with its iconic equestrian statue and the Tagus River as a backdrop, is a standout.

Another critical spot is the Elevador de Santa Justa, a 19th-century lift that offers panoramic city views.

Chiado

On the other hand, Chiado is seen as Lisbon’s intellectual and artistic heart. Historically, it was the gathering place for writers, artists, and intellectuals.

Chiado oozes a timeless elegance with its belle époque cafés, historic theaters, and age-old bookshops. The neighborhood is also home to several luxurious brands and boutique stores.

One of the most iconic spots is the statue of the poet Fernando Pessoa, seated outside the famous ‘A Brasileira’ café. The Igreja do Loreto and the São Roque Church are notable sites in the area.

The Must-Visit Spots in Baixa

 

Baixa’s is packed with historic sites and buzzing areas. And as you’d imagine, there’s no shortage of things to do, thanks to its vibrant atmosphere and endless tourist attractions. If you’re considering popping by some places, here are a few worth checking out.

Rua Augusta

A bustling pedestrian street filled with shops, restaurants, and street performers. Don’t miss the arch at its end, which offers a panoramic view of the Praça do Comércio and the Tagus River.

Praça do Comércio

At the epicenter of Baixa’s allure is one of Europe’s largest squares, Commerce Square (Praça do Comércio). This grand expanse, once a cattle market, now looks out onto the huge Tagus estuary as a serene backdrop to the bustling activities of daily life.

This juxtaposition between the waters and the urban landscape makes it one of Lisbon’s most beautiful squares. It’s a great place to start your tour, with its beautiful arcades, the equestrian statue of King José I, and cafes lining its sides.

Elevador de Santa Justa

Elevador de Santa Justa, a neo-Gothic elevator, offers a panoramic view of Lisbon. It connects Baixa and Carmo Square.

A stone’s throw away, Rossio Square (Praça Dom Pedro IV) has its tale. Historically, this square served as a public execution spot, a grim reminder of Lisbon’s tumultuous past. Today, it represents the city’s resilience and evolution, surrounded by beautiful architecture that echoes its legacy.

Santa Maria Maior

Santa Maria Maior, nestled between two hills, offers an elevated vantage point over Baixa. From here, the rooftops and squares, including Praça dos Restauradores, create a harmonious mosaic that speaks to the district’s unique character. Praça dos Restauradores, a symbol of Portugal’s independence restoration, adds another layer to Baixa’s rich narrative.

MUDE – Museum of Design and Fashion

MUDE is not just a museum; it’s a celebration of design and fashion, aiming to provoke thought and inspire visitors about the importance and influence of innovation in our daily lives.

This museum is dedicated to the exhibition of pieces that emphasize the 20th and 21st centuries. If you’re interested in design, art, and fashion, it’s a must-visit spot in Lisbon.

However, MUDE has been renovating, so it’s good to check its current status before planning a visit.

Largo do Chiado

This is the main square of Chiado’s neighborhood. Here, you’ll find the statues of the poets António Ribeiro and Fernando Pessoa sitting outside the iconic café ‘A Brasileira.’

Carmo Convent and Archaeological Museum

In the wake of the 1755 earthquake, much of Baixa was completely rebuilt, transforming it from a medieval settlement to an urban masterpiece with a grid-like structure and grand villas. This architectural metamorphosis is evident in the intricate details of the buildings and streets that characterize this coveted real estate locale. For example, The Convento do Carmo was once a large Gothic church in Lisbon and is now a poignant reminder of the devastating incident that changed Lisbon’s face forever.

Beyond beautiful ruins, it now houses the Carmo Archaeological Museum. The museum’s collection is diverse, from prehistoric artifacts to more contemporary pieces, including Visigothic, Roman, and Moorish items.

Teatro Nacional de São Carlos (National Theatre of São Carlos)

Opened in 1793, this neoclassical opera house was constructed to replace the Tejo Opera House, which was destroyed in the 1755 earthquake.

Its interior is richly decorated, reflecting the grandeur of 18th-century performance spaces. Over the years, it has hosted numerous operas and classical music performances. The program is diverse, so it’s worth checking out the current schedule if you love the performing arts.

Igreja do Loreto

Igreja do Loreto is also known as the “Church of the Italians” in the lively Chiado district. This church is located on a hilltop, offering panoramic views of the surrounding city.

Dating back to the 16th century but rebuilt in the baroque style after the earthquake, the church is adorned with intricate wooden carvings, azulejo (Portuguese ceramic tiles) panels, and gilded ornamentation.

The Real Estate Market in Baixa

Owing to its central location, real estate in Baixa is highly sought after, and you will find that the highest price bracket in the city is in this general area of the town, alongside Principe Real and Avenida da Liberdade.

However, if you are looking for an investment in one of the most significant areas of Lisbon, you should certainly consider it.

The small size of Lisbon’s historic center also means that the real estate market is highly competitive.

As seen on the popular rental marketplace Idealista, flats for rent in this region are a constant interest, especially for tourists and foreigners unfamiliar with the area.

Single room prices range from €300 to €800, while flats could go as high as €3000 monthly. The average asking price for real estate per square meter in Santa Maria Maior, in which Baixa is located,  is €6,700.

Types of Property in Baixa

Types of Property in Baixa

Here’s a glimpse of what this neighborhood has in store for potential buyers.

Pombaline residences

Named after the Marquis of Pombal, who was responsible for the reconstruction of Lisbon after the 1755 earthquake, these are historic buildings with unique architectural features. They often have high ceilings, wooden floors, and, sometimes, intricate tilework (azulejos).

Lofts

Especially in renovated or refurbished buildings, lofts offer open-plan living, often with high ceilings and large windows, lending a modern, spacious feel.

Studios

These single rooms combine the living room, bedroom, and sometimes even the kitchen into one space. They’re suitable for singles or couples.

Traditional T1, T2, T3 apartments

In Portugal, they are often categorized by the number of bedrooms they have. T1 has one bedroom, T2 has two, and so on. These apartments will also include living spaces and a kitchen.

Duplex or triplex

Spanning two or three levels respectively, these apartments resemble having a multi-story house within a building. They often feature staircases inside and can feel more like a townhouse.

Modern luxury homes

In some of the renovated buildings or newer constructions, you’ll find apartments equipped with the latest, contemporary designs and sometimes even concierge services.

Penthouses

Penthouses are top-floor apartments with terraces or balconies that offer panoramic city views.

Serviced units

Aimed at business travelers or those staying for shorter periods, these come fully furnished with services like cleaning, utilities, and sometimes even breakfast.

Apartments with river views

Due to Baixa’s proximity to the Tagus River, some flats, especially those on higher floors, boast lovely river views.

Renting Baixa Apartments in Lisbon: Pros and Cons

While there are numerous reasons to consider renting here, we’ll also delve into a few key points before leaping.

Benefits

  • Safety: Central neighborhoods like Baixa and Chiado are well-lit and active, increasing safety.
  • Closeness to relevant services: Combining modern utilities amidst historical charm offers a unique and elevated urban living experience.
  • Lifestyle enrichment: Living in historic neighborhoods infuses daily life with a sense of heritage and cultural depth.
  • Convenience: Everything is at your doorstep – from grocery stores to high-end restaurants, reducing the need for long commutes.
  • Networking opportunities: Being in central Lisbon provides numerous opportunities to meet and network with diverse groups, from professionals to artists.
  • Cultural immersion: Easy access to theaters, galleries, and live performances means residents can immerse themselves in culture effortlessly.
  • Enhanced well-being: The pedestrian-friendly zones promote walking, improving physical health and well-being.
  • Educational opportunities: The neighborhoods’ rich history and architecture offer continuous learning experiences for adults and children.
  • Inspiration: For creatives, being surrounded by art, history, and diverse cultures can be a constant source of inspiration.

Considerations

  • Tourist crowds: Being central and famous, these areas can get crowded, especially during the tourist season.
  • Noise: With its nightlife and street activities, it might be noisier than quieter residential neighborhoods.
  • Higher living costs: Rent and property prices are higher due to the prime location.
  • Traffic restrictions: Certain parts have limited vehicle access, which can inconvenience residents with cars.
  • Loss of authenticity: As with many central urban areas worldwide, there’s a concern about them becoming too commercialized, losing some local charm.
  • Limited parking: Finding parking can be challenging, given the central location and pedestrian zones.

The Primary Residents of Baixa, Lisbon

 

Strolling through the historic streets, you’ll find a mix of residents adding to the neighborhood’s charm.

Among them are:

Expats international workers

Given its central location, lively ambiance, and proximity to various places, many expatriates and international workers who move to Lisbon choose Baixa and Chiado for convenience.

 Students and academics

With several universities and academic institutions nearby, many students and academics opt to live in or around Chiado and Baio, especially those looking for a more urban living experience.

Artists and creatives

With its bohemian past, art studios, and galleries, Chiado attracts artists, writers, and other creatives.

Business professionals

Baixa is also a business center. Professionals working in and around downtown Lisbon might choose to live here for short commutes.

Property investors

With Lisbon becoming an increasingly popular travel destination, local and international property investors have shown interest in Baixa and Chiado for personal use or short-term rental purposes.

Local residents

Of course, some locals have lived in these districts for generations, often in family-owned properties. They provide the areas with a sense of continuity and authenticity.

How to Choose the Best Locations to Rent and Buy in Baixa

Choosing the best apartment requires a combination of objective criteria and personal preferences. Here’s a guide to help you navigate the decision-making process:

Budget

Determine your budget first. This will immediately narrow down your options and help you focus on what’s feasible.

Purpose of stay

A serviced apartment might be ideal if you’re looking for a short-term rental. For more extended stays, consider more traditional alternatives. If you want to buy, do you want to relocate to Portugal? Or would you rent out your property?

Size and layout

Decide on the number of bedrooms and bathrooms you need. If you work from home or have hobbies that require space, consider the layout and whether it meets your needs.

Historic Versus Modern

Baixa is a fusion of historic Pombaline architecture and updated modern residences. The former exudes character, while the latter may provide up-to-date conveniences.

Amenities and accessibility

Enumerate crucial conveniences, such as laundry appliances or climate control. Assess your comfort with stair-climbing if the building lacks elevators, especially for residences spanning multiple floors.

Consider the location’s closeness to crucial establishments like grocery stores, pharmacies, eateries, educational institutions, and other vital services.

Stunning views

Abundant sunlight can transform your living environment. Units with vistas of the river or public squares may carry a premium but could enhance the living atmosphere.

Security

Research the security of particular neighborhoods or streets. First-floor units may feature patios and be more vulnerable to unauthorized entry.

Local expertise

Consider hiring a local real estate agent familiar with Baixa. They can help you navigate the market, understand local norms, and even negotiate on your behalf.

Summary Frequently Asked Questions about Baixa Lisbon Real Estate

Baixa offers prospective homeowners and renters a perfect blend of modern infrastructure with historical charm. With its diverse array of properties, from Pombaline apartments to contemporary lofts, Baixa caters to varied tastes and preferences.

However, diving into its real estate market can be complex, especially for those unfamiliar with the intricacies of Lisbon’s neighborhoods.

To truly ensure you’re making the right choice, consider seeking the expertise of a buyer’s agent. Unlike traditional real estate agents who primarily represent sellers, buyer’s agents advocate for the buyer.

We handle everything for you at Goldcrest, from finding homes to post-purchase support. We also provide ongoing insights while assisting with negotiations and guaranteeing you get the best deal possible.

If you’re seriously contemplating a move to the heart of Lisbon, don’t hesitate to contact us.

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Frequently Asked Questions about Baixa Lisbon Real Estate

Facilities in real estate listings in Lisbon can vary, but you can commonly find features like modern kitchens, Wi-Fi, heating, and access to nearby shops. Some upscale properties may offer additional features like gyms and rooftop terraces.

To find places for rent online, you can use popular real estate websites and platforms. Simply search your query, and you’ll find various listings. This will give you an overview of the market. Working with an experienced professional to assist you with the property purchasing process can be a good idea.

To discover homes for sale, consider browsing reputable property websites, partnering with trusted local real estate agents, or conducting online searches with specific keywords such as “sale Baixa.”

The average monthly rent can vary depending on location, size, and. It’s advisable to check current listings to get an accurate idea of rental prices.

Its historic and highly sought-after neighborhood makes it a potentially attractive place for homebuyers due to its popularity and demand. However, like any investment, it’s essential to research the market, assess property values, and consider your long-term goals before deciding.

On average, renting or buying a place in Baixa can take anywhere from a few weeks to a few months, depending on the above factors and individual circumstances.