Frozen in a time capsule in Lisbon you’ll come across Graça. Or that’s how it seems. It’s easy to be transported back in time in this traditional neighborhood and fall in love with the picturesque winding streets and lovely architecture. Graça is sort of like the less-touristic version of the popular Alfama. In Graça, you can buy a property and become part of Lisbon’s history, discovering the hidden corners, gardens, and roof terraces. In this Graça real estate guide, we’ll provide you with everything that you’ll need to know about buying in this historic neighborhood.
Buying a House in Graça
Graça can be found on the high ground of São Vicente, Lisbon’s historic district. There are many historical landmarks here, from churches to parks you will surely be impressed by the beauty of the neighborhood. You will also have stunning views over downtown Lisbon and the Ponte 25 de Abril bridge, if you climb to the top of these hills, you will definitely be rewarded for the effort. In this section of our Graça real estate guide, we’ll look at the numerous amenities that this neighborhood has to offer.
In this Graça real estate guide, we’ll walk you through the following:
- The real estate market in Graça
- Prices of real estate in Graça
- Why buy property in Graça
- What to consider when buying property in Graça
- Things to do in Graça
Plus much more!
The real estate market in Graça
The real estate market in Graça has developed rapidly over the past years, as the property market in Lisbon has gone from strength to strength. The Graça neighborhood was not particularly highly valued in previous decades, as it was typically a very traditional Portuguese area with many low-income families. While it still maintains this character, there have been plenty of redevelopments in recent years and many real estate opportunities, if you know where to find them.
The price of real estate in Graça, Lisbon
The price of real estate in Graça ranges between €3,000 to €6,000 per square meter. The average asking price for property in São Vicente for 2020 was €4,514 per square meter.
Why Buy Property in Graça
Investing in Graça real estate provides an excellent opportunity to enjoy the traditional Portuguese lifestyle and to invest in a solid part of the city. The beautiful views of the Tejo and the luxury properties that can be found here are not something that you’ll want to miss. In addition to this, prices are quite reasonable compared to other luxury properties in neighboring countries.
Indeed, buying real estate in Graça is almost like investing in part of Lisbon’s history and can offer high returns for those looking to invest in a short-term rental property.
The views from Graça are one of the key reasons why people come to call the neighborhood home. The miradouros (viewpoints) offer exceptional views of Lisbon. The Miradouro do Graça provides sublime views of central Lisbon, as does the Miradouro da Sophia de Mello Breyner Andresen, which is higher up and has a very relaxed vibe where you can simply unwind and enjoy the views of the city spread out below. Even higher up, you also have Miranda do Monte, well worth the extra climb.
Graça has its own energy. It’s a colorful neighborhood with sights and squares that range from basic properties to impressive palaces. The area appeals to both locals and expat because it has such a distinct atmosphere that calms you just walking down the streets.
As Graça is also traditionally a local area, you will find many shops, typical restaurants, and charming cafes to spend your days. What’s more a significant advantage of this neighborhood over, let’s say Alfama, is that tourists do not frequent the streets of Graça as much as in Alfama. You will be able to have more peace and quiet if you opt to buy real estate here. One thing to bear in mind, however, is that both Graça and Alfama are situated in an area of Lisbon where there are many hills to climb, so be prepared. Lisbon is not known as the city of seven hills for nothing.
Route to Citizenship
If you invest in commercial property in Graça then you may be eligible for the Portugal Golden Visa. With this you can secure residency in the country and, after five years, you may be eligible for citizenship.
You can learn more about the Portugal Golden Visa here.
What To Consider When Buying a House in Graça
In this part of our Graça real estate guide, we’ll provide you with some considerations before purchasing a house.
Make sure that the house that you are buying has all the paperwork. Check for any red flags or indications that it may not be all it seems, such as legal disputes or missing paperwork. 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. We suggest making sure the professionals you work with have AMI licenses since this means that they are qualified to practice real estate brokerage in Portugal.
Check all aspects of the property and analyze any repairs that you will need to make, such as water fittings, or heating systems. Making note of these expenses will help you estimate how much money that you may have spent during those upgrades and what additional work needs to be done on the property. You can get some old properties in Graça, so make sure that you carefully look at all the aspects of the property. Ask how much money has been spent on maintenance and upgrades and if anything else needs to be fixed.
If you are looking at property in Graça, you will be able to find some spectacular options. However, go beyond a simple tour of the house and check out the neighborhood. Speak with your neighbors and check out the neighborhood to make sure that you can picture yourself living in the area. Buying a property is a very important investment so make sure you take the time to get to know the area well before buying. Also, we recommend visiting in the daytime and the nighttime as places can have a very different vibe at night.
Things To Do in Graça
In this part of our Graça real estate guide, we’ll provide you with some insights on our favorite things to do in the area.
- Enjoy the local cuisine: you can go to O Satelite, where people enjoy all the very best of Portuguese cuisine and seafood specialties such as arroz do marisco (seafood rice) and bacalhao (salt cod).
- Explore Graça’s picturesque alleyways. Graça is a place where you can walk on painted tiles and meander down narrow cobblestone streets. You will no doubt see laundry drying between buildings or charming music coming out of the window of some restaurant or other, simply adding to the charm of the neighborhood.
- In the month of June, Graça, along with many other neighborhoods, is transformed into a giant street party. For much of the summer, restaurant tables fill every slope, and the smell of grilled fresh fish wafts down the cobbled streets.
- Walkthrough the Feira da Ladra Flea market: every Tuesday and Saturday, there is a flea market in Campo de Santa Clara. It has been around since the Middle Ages and you can buy many different things, from silverware to new leather purses.
Investing in real estate can be a costly investment and finding the right place for you can be difficult. Make sure that you research carefully and speak with expert advisors when needed.
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:
This is just a brief introduction to property in Graça. If you are looking for a house in Graça, 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.
Goldcrest, has recently 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 Graça. 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.