Investing in brick and mortar is a solid investment. And if you are looking to invest in the property market in Portugal, then Chiado, a popular neighborhood in Lisbon, is a very safe bet. What’s more, if you are looking to live there yourself, you could not be more centrally placed to enjoy the perks of the bewitching city. Nightlife, restaurants, and cafes, you name it, Chiado will no doubt be able to provide. Indeed, Chiado is a cultural and luxurious hub in the city. In this Chiado real estate guide we’ll provide you with key insights into the neighborhood.
In this Chiado real estate guide, we’ll provide you with information on the following:
- Buying a house in Chiado
- Why buy a house in Chiado
- What to pay attention to when buying a house in Chiado
- Chiado’s attractions
- How we can help
- Plus much more!
Buying a house in Chiado
Chiado is one of the oldest, and most charming, neighborhoods in Lisbon. It was nearly destroyed in a fire 20 years ago but the city recovered very well, with its old historic buildings reconstructed to absolute perfection after the incident. Chiado has long been one of the city’s most popular neighborhoods, for tourists and locals alike, which is one of the key reasons why it has such strong investment potential.
Why buy a house in Chiado
The fantastic neighborhood of Chiado is one of the finest locations in Lisbon to purchase a property. In this section of our Chiado real estate guide, we’ll provide you with just a few of our favorites.
In and around Chiado
Chiado has its own unique charm, with its grand architecture a constant reminder of the centuries gone by. After the 1994 fire, some of the elegant buildings were reconstructed and the architect chose to make space for green spaces, which you’ll be sure to stumble upon if you’re out and about in the area.
Although Chiado covers a relatively small part of Lisbon, the apartments here can be spacious and luxurious, fitting perfectly with the sleek personality of the neighborhood.
As Chiado is situated in the very heart of the city, close to fashionable restaurants, quirky boutique shops, and elegant bars, the neighborhood thrives in the daytime and comes alive when the sun goes down, with neighboring Bairro Alto the perfect stop off place to grab a drink and soak in the nighttime buzz. Also, with many viewpoints, from Santa Catarina or São Pedro de Alcântara, you can soak up the sunshine and the spectacular views. If you own a property in Chiado, you will be able to enjoy the very best of living in the Portuguese capital. Bear in mind, however, that this part of the city is notoriously hilly, as is much of the city of Lisbon.
One more factor to take into account buying property in Chiado is probably most interesting for lovers of culture and traditions. This part of the city is home to Lisbon’s theatre district, with the São Carlos National Theatre hosting the excellent Portuguese Symphony Orchestra. For lovers of art, the National Museum of Contemporary Art is where you will be able to discover modern exhibitions of artistic expressions from Portuguese artists. One thing that you may not know is that Chiado is also where the Livaria Bertrand bookshop can be found, famous for being the oldest bookshop in the world. With its ancient charm, it is the perfect place to meander down the bookshelves and stumble upon a hidden gem.
Chiado is also a short train journey away from Cascais and Estoril, strategically placed for the perfect beach getaway.
Living the Chiado lifestyle
Just a 30-minute drive from Lisbon International Airport, where frequent travelers can jet-set around the world, Chiado has excellent transportation links. That’s if you feel the need to leave the neighborhood, however, which has much to offer and from which you can get easier around the Lisbon area and further afield in the country.
If you are moving to Portugal with family and are concerned about schooling in the area, you have international options close at hand. For example, PaRK International School is just a short drive away. The São Jorge Hospital is also nearby, and the neighborhood should have everything that you need a comfortable distance away.
For foodies, you will be able to find several incredible restaurants, covering all budgets. Lisbon has many Michelin-acclaimed restaurants, and some of the very best can be found in Chiado. There is a nice mix of traditional Portuguese cuisine, mixed with innovative and modern takes on dishes.
Architecture and facilities
Chiado is a charming neighborhood, famous for its architecture and its array of facilities. Whatever you are looking for, you will no doubt be able to find what you are after here. As we’ve mentioned, you have theatres, boutique shops, bookshops, lovely cafés, and some of the best restaurants in the city. Look upwards, and you will marvel at the intricate architecture on display. Yes, if you are considering buying property in Lisbon, it is definitely worth considering Chiado.
Route to European citizenship
For investors of commercial property in Chiado, you may be eligible for the Portugal Golden Visa. This allows you to gain income from your property investment and provides you with a route to European citizenship by naturalization if you qualify for the scheme and fulfill all the criteria.
What To pay attention to when buying a house in Chiado
There are many different types of properties to choose from if you are looking to make a purchase in Chiado, such as apartments and villas. Whichever property type you opt for, there are certain things that you will need to bear in mind. In this part of our Chiado real estate guide, we’ll provide you with some things to look out for.
Check the prices in the neighborhood
Before you make a property purchase in Chiado, research the prices of property to make comparisons. Also, check for nearby parks, grocery shops, schools, and the like, and then make a list of what you need your property to have and what would be nice to have.
Inspect the property
Make sure to do a very thorough inspection of the home, from understanding when the property was built to its heating system (yes, it can get very cold in the winter months). Making technical due diligence is useful as it can help you to understand current costs and potential future expenses. Note what work will need to be done, both on the inside and outside of the property, including furniture. Check the age of the property, as older properties will require extra work.
Make sure that the house that you are buying has all the paperwork. It is essential when purchasing a new property. One missing document can lead to significant issues, and very long delays, so make sure that everything is in order.
Check for any red flags or indications that it may not be all it seems, such as legal disputes. To make sure everything is in order, and perhaps to avoid potential difficulties further down the line, it is a good idea to seek professional help in this regard.
Speak to a Real Estate Professional
When considering making a real estate investment in Chiado, Lisbon, it is best to consult an expert in the area who is able to guide you on the buying practices, and who is able to save you both time and money. When choosing a consultant to help you, select one that is licensed to practice real estate brokerage with an AMI license. An experienced consultant will be able to help you understand the real estate market in Chiado and accompany you throughout the property acquisition process.
If you have decided to live in the lovely neighborhood of Chiado, you will always have a little list of things to do and places to see. In this part of our real estate guide, we’ll provide you with some of our favorite things to do in the neighborhood.
- Head to Garret Street, where you’ll find an array of unique shops and cafés.
- For history lovers, you have the Largo do Carmo to find historic church ruins.
- São Carlos National Theatre is one of the cultural treasures of Lisbon.
- The Luís de Camões Square is the perfect place to admire baroque and rococo architecture.
- Stop by Bairro Alto for a drink in the buzzing streets, you’ll be sure to find something unexpected on your night out.
This is just a brief introduction to the Chiado real estate scene in Lisbon. It could very well be the perfect place for a property investment or to move to the city.
How we can help
Global Citizen Solutions is a boutique residency and citizenship by investment company, focused on finding the right investment, citizenship, or residency program for individuals across the world. We work solely on behalf of our clients throughout the process for an easy and hassle-free journey to your desired route.
With offices worldwide and an experienced, hands-on team, get in touch today to see how we can understand your objectives and help you move towards becoming a global citizen.
The following articles may be useful to you:
- Golden Visa Portgual: You step-by-step guide
- How to buy property in Portugal
- Buying property in Lisbon
- Buying property in Porto
This is just a brief introduction to property in Chiado. If you are looking for a house in Chiado, you can get in touch with one of our team at Goldcrest, our real estate division, who will be able to discuss your options for buying property in this beautiful neighborhood of Lisbon.
Last year Goldcrest launched their new e-book on how to buy property in Portugal which will be useful to you if you are looking to buy a house in Lisbon. You can order your copy here. The book provides an easy guide to buying property in Portugal, including navigating taxes, bureaucracy, finding a mortgage, amongst other important information.