Buying a Property in Baixa with Alice Autran Garcia, Athena Advisers.

The word, ‘Baixa’ in Portuguese means ‘low’. This is an apt name for this neighbourhood as it’s the only part of Lisbon that is totally flat. It was rebuilt after the devastating earthquake in 1755, and unlike a lot of Lisbon, Baixa is organised in a grid, connected by a series of squares where imposing neo-classical buildings tell of an age of prosperity and power.

To this day, Baixa remains Lisbon’s bustling area of commerce, but it hasn’t lost its connection to its heritage, to Old World Lisbon. Stroll along the charming streets of Baixa and you’ll still find the same families specialising in artisan trades, passed down from generations. For those who take the time to explore Baixa, you can find little pockets of magic that are a world away from the touristy vibe.

Although during the day it is bustling with activity, at night time, it is a lot calmer. Don’t forget to take a ride in the beautiful Santa Justa elevator and have a look at the spectacular view.

One of the reasons travellers, and locals alike, love Baixa is that it is one the only parts of city where you have pure, unadulterated access to the river. It is an ideal spot to stop and soak up the sun whilst still in the centre of the city.

You can think of Baixa like the central point where the historic centre converges, connecting Chiado, Alfama and the Avendidas da Liberdade with the Tagus River. Taking all of this into account, Baixa is a fantastic area for investing in properties for short-term rentals and second homes and can be considered the beating heart of the capital. Enjoy!

Prices in Baixa have risen significantly in recent years, driven by its lower entry point – prices start at €7,000 per sqm for luxury new builds and can fetch up to €10,000. While predominantly a commercial, rather than residential area, it’s a strong market for short-term rental investments and is in the process of applying for Unesco World Heritage status, which would help to drive its value even further.

Starting by the river, take a stroll around Praça do Comércio, a wide square where many celebrations are held. To the north of the square, the pedestrian Rua Augusta opens up and is alive with outdoor cafés, tiled Art Deco shop-fronts, terraced restaurants and street artists, highlighted by the huge Arco da Rua Augusta (and visitors can climb to the top of the arch!). In Baixa, each street has its own distinct charm. Rua das Portas de Santo Antão is a lively pedestrian street known for its seafood restaurants. Nearby, at Rua de Santa Justa, there is the Elevador de Santa Justa, built-in 1902 by an Eiffel disciple. The 32-meter elevator takes you to a floor with superb views over the city and the exit to Bairro Alto. Rossio, at the north end of Baixa, is the oldest square in Lisbon and remains a pleasure to stroll through – make sure to drink a small glass of Ginja, a local cherry liquor, at the Ginjinha bar.