The year was 1889 and Lisbon was starting to grow bigger and bigger every day. From the famous Avenida da Liberdade, it grew north and with the implementation of the statue of the Duque of Saldanha, the hero of Liberalism, pointing in the direction of the sea, the Saldanha Plaza was born.
However, it was only at the beginning of the 20th century that this plaza was inaugurated and, once a deserted area, it was starting to get a few buildings and some movement. Fast-forward 40 years and this plaza was the center of commerce, with the most emblematic buildings such as the main theaters, cinemas and shopping malls operating in this area.
Nowadays, this district is home to towers, offices and modern international companies from where you can easily access every point of the city by metro, bus or even by electric scooter or electric bicycle.
It is safe to say that Saldanha is now Lisbon’s new financial district.
With the latest urban recovery, this part of the city now benefits from larger avenues for pedestrians, bicycle paths and beautiful green areas, making it an attractive not only as a charming place to live but also for national or international companies to settle their businesses.
Saldanha is, in part, the center of an enormous economic dynamism where a new way of living, tranquility and leisure is being born. With luxury hotels, fine dining and modern shopping centers offering the latest options for tourists and locals.
Get to Know this Neighborhood
If you are new to the city and new to its diverse neighborhoods, we can help you with how is it like to spend a whole day sightseeing in this area. Just pay close attention to these recommendations of a nice, normal sunny day visiting Lisbon’s new financial district.
A typical day in the Saldanha area begins at the center of the square, observing the Duke of Saldanha statue and then, a few steps from there, you can enjoy a nice and fulfilling breakfast in one of the city’s most beautiful cafes, the monumental Versailles bakery. You can then catch a ride from one of the cool electric bicycles, that allows you to ride an electric bicycle all over town at extremely attractive prices: only 2€ per day or a monthly pass from 15€. Catch one in Saldanha’s plaza and you can easily bike to Campo Pequeno, the bullring of Lisbon, which owns a phenomenal architecture, and is surrounded by delicious restaurants with terraces. Try the Nómada restaurant, a fusion sushi restaurant with a contemporary kitchen serving the most delicious meals or the Rabo D’Péxe restaurant, a signature Portuguese restaurant with seasonal products.
In the afternoon, bike a little more towards the beautiful gardens and museum of the Calouste Gulbenkian Foundation. The museum accommodates the art collection of the Gulbenkian family, including ancient and modern art. Finish your day with some shopping at El Corte Inglés and go for a cup of coffee on the 8th floor, where you will find a brand new gourmet space filled with Portuguese cheeses and delicious wines.
The Real Estate Market
The real estate market in this area has changed a lot in the past few years. Once a place for an older generation, antique department stores, with lots of antique buildings, it now houses incredible projects with stunning, luxurious residential apartments destined to a younger generation.
With the improvement of the Saldanha urban area and with the fast-growing set up of start-ups and new businesses in this district, this zone is considered a prime area in Lisbon where the price per square meter is around 7.000€.
Along with the district of Campo de Ourique, the Saldanha area is, in the year 2018, the champion of the rise in housing prices. The price per square meter increased 37% since last year, mainly due to the rehabilitation of the streets and the improvement in real estate in this area.
Since the rehabilitation of the city first started in the historical areas is normal that, with the market consolidation, the number of opportunities in sought after areas such as Chiado, Príncipe Real and Avenida da Liberdade have become limited. Now, investors are looking for other areas with similar investment potential such as Avenidas Novas (Saldanha’s district) to focus and lengthen their developments and consequently obtain interesting investment returns.
It’s no coincidence that Saldanha have become the preferred destiny for investment when it comes to residence rehabilitation, which now concentrates 14% of the commercial offer. Therefore, developers are building numerous projects with the primary goal of featuring small dimension but rentable 1 to 2-bedroom apartments. Despite being one of the best addresses for a familiar residency, it also has a rental market with a lot of demand, both by foreigners and nationals, and is still a central area with tourism potential.
So, if you think Lisbon is the ideal place to start your business keep in mind that Saldanha, Lisbon’s new financial district, can portray a lot of business opportunities but also be a great place to live comfortable and easily accessible.