Think Baixa, think grand architecture, monumental squares and a busy commercial hub. Descending from nearby Chiado via the Elevador de Santa Justa, Baixa unfolds in a rectilinear street grid down towards the riverfront, a rarely relenting energy coursing through its veins. Rua Augusta, one of Baixa’s main attractions, is to Lisbon what Covent Garden is to London, its mosaic-ed pedestrianised walkways alive with outdoor cafes, tiled Art Deco shop-fronts, flower shops, terraced restaurants and the occasional street artist and peddler. Streets once named after the goods they sold are now home to trendy stores and boutique shops, while new arrivals to the area, such as FashionWeek and StartUp Lisboa, promise to drive its cultural importance in the city. Baixa’s central location and excellent transport links makes it is one of the best connected neighbourhoods in the city.
The Property Market in Lisbon
Having come out of economic struggle in 2010, the real estate market in Portugal has seen a consistent rise. The price of property for sale in Lisbon increased by 4.9% between 2017 and 2018. Portugal and Lisbon alike have excellent housing markets, which generally tend to offer good value for money. Because of this, Portugal has the highest owner-occupation rate, with nearly 70% of the population owning their homes.
Unlike many European capitals that have become nearly unaffordable, Lisbon allows individuals to buy a house in central and prime locations, making an ideal property investment. A large proportion of foreign investors are French and Scandinavian, who have made Lisbon their second home. They, along with others, benefit from the low taxes and low-cost of living in the city.