Principe Real

Considered by Lisboetas to be amongst Lisbon’s loveliest neighbourhoods, Principe Real is named in homage to Queen Maria II's first born “Royal Prince”. Calm and elegant, this neighbourhood offers a more peaceful alternative to Barrio Alto, its charmingly boisterous neighbour.  Set on the pinnacle of one of Lisbon’s seven hills, Principe Real slopes up from one of the city’s best view-points, São Pedro de Alçantara, where artisanal market-stalls selling fresh lemonade draw young families, while gentrified residents soak up the views in the shade of the olive trees. The colourful, elegant mansions of this residential district are connected by a patch-work of noble squares, with century-old trees, tranquil ponds and flashes of spectacular views over the city and glittering Tagus River.

In recent years, this charismatic district has evolved into one of Lisbon’s trendiest areas to buy property. Like many of Lisbon’s trendiest neighbourhoods, Principe Real’s evolution has been driven by the renovation of historic buildings into new residential developments, attracting a young, trendy crowd. The lovable juxtaposition of tranquil squares and leafy plazas with a vibrant social and economic scene has turned it into one of the most sought-after areas to live in town. Once only known for its whimsical antique shops and gay bars, it’s now considered one of the city’s hippest spots for shopping. In 2013, a crumbling 19th century romantic mansion on Praça do Principe Real was reborn as the “Conceptual Shopping Gallery” Embaixada, while down the road you can find Entre Tanto, a converted 18th century mansion turned into a concept store, divided into trendy spaces dedicated to design shops, fashion and cuisine.

The experts say

The unique combination of architectural restoration, concept shops and excellent restaurants has created a unique socio-economic trend in Principe Real. Investment and residential growth are on the rise, changing the neighbourhood into one of Lisbon's more sought after locations. Ignited by the interest of local artists and international investors, its many charms are no longer a secret and prices for luxury new build apartments in the neighbourhood, starting at 3,000 EUR per square metre, are amongst Lisbon’s most expensive. As a result, while Principe Real is not the market for rapid capital appreciation, it’s one of the city’s loveliest options for investors planning to live in the property. Chic and centrally located, properties here offer strong long and short term rental opportunities.

Three insiders tips for Principe Real

GET - Precious tiled art from the 15th to the 20th centuries at Solar, a shop that feels more like a museum.
DO - Taste the freshly made gelato at Gelateria Nannarella, a tiny Italian owned store with quality ingredients.
SEE - The views from Lost In - an India-inspired terrace overlooking the city, serving light meals throughout the day.

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