Elegant, bustling Chiado has long been Lisbon’s calling card.  Draped over a hill that runs down from Bairro Alto to Baixa and the River Tagus, most of the buildings devastated in the 1988 fire were restored by architect Álvaro Siza Vieira to create one of the more refined and sophisticated spots in the city. Now populated with a myriad of shops, designer ateliers and restaurants, Chiado has evolved into a honey-pot for the city’s increasing number of international visitors.

A hypnotic mix of modern and the traditional characterises life in Chiado. A historic meeting point for the city’s artists and intellectuals, Chiado’s mosaic-ed squares make for great people watching, with literary heroes such as Fernando Pessoa, Luis de Camões and Eça de Queiroz immortalized in stone in many of the squares and plinths; the most famous of which, Praça Luís de Camões, divides Chiado and Barrio Alto and remains a favourite spot for Chiado’s old-world bohémes to meet for an aperitif before dinner. Despite the tourist bustle and international brands, you can still find the artisan ateliers of some of Lisbon’s most renowned designers tucked down the side-streets, while its plethora of theatres are a pillar of Lisbon’s cultural soul.

The experts say

The first of Lisbon’s neighbourhoods to undergo renovation, prices in Chiado are amongst the highest in Lisbon, rising sharply in the last 5 years to hit around 12,000 EUR for the top-end of the market. An iconic area, highly regarded by tourists, that combines charm with ready amenities, Chiado can be considered a safe bet for investment. There is a general feeling among experts that prices have now plateaued, and in some cases, buildings are over-valued. If you are looking for serious returns, there are better places to invest in the city.

The property market in Chiado

Following the devastating 1988 fire, the city council’s functional revitalization project successfully preserved Chiado’s charm, while at the same time improving its residential outlook. Pedestrian walkways connecting Baixa and Chiado were thoughtfully repaired allowing Lisboetas to commute through the area, monitor progress and keep it at the forefront of their minds. The presence of these pedestrian routes also preserved the character of public space and plazas, quality of life and the promise of new commercial areas. Chiado is now one of the most sought after and expensive addresses in the city for residential and commercial buyers, where 18th century Pombaline Style architecture combines with forward-thinking new builds, many of which are eligible for the Portuguese Golden Visa programme. The wealth of sight-seers, casual strollers and shoppers make it a lucrative mix for business owners, while limited access for traffic preserves some peace and quiet while public transport via buses and Metro makes the area easily accessible.

Three insiders tips for Chiado

GO - to the charming shopping centre Armazém of Chiado with its luxury shops
DO - go to Silk Club for a cocktail or two overlooking Lisbon twinkling cityscape at night.
SEE - the killer view spanning from St. George’s Castle to Lisbon’s city centre from Miradouro de São Pedro de Alcantara

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