Real Estate Market in Belem / Restelo – Lisbon 2021
The Belem / Restelo housing market report summarises key trends in Belem / Restelo’s housing market in Lisbon. The analysis covers house prices and new developments. The report primarily draws on publicly available datasets. The Belem / Restelo housing market (houses & apartments) report is updated regularly.
Prices per sqm in the Belem / Restelo district in 2021 €4.400€ > €6.500
At a Glance
Welcome to Belem / Restelo
The Belém district is full of heritage and where two of Lisbon’s main monuments can be found: the Belém Tower and the Jerónimos Monastery (dos Jerónimos). This former commercial port is an ideal location for a stroll along its quays.
There are other monuments to be discovered in the city of Lisbon such as the remarkable national shrine of Christ the King, inspired by Christ the Redeemer, the statue overlooking Rio de Janeiro. There is also a tourist attraction that you cannot miss: the 25th of April Bridge. This is one of the longest suspension bridges in the world.
Vasco da Gama’s caravels set sail from Belém to discover the sea route to India. There is plenty to see in this district accessible by the tram (15E). You can visit the Antique Art Museum, the Mosteiro dos Jerónimos, the Padrão dos Descobrimentos (the monument to the Discoveries) by the Tagus, the tropical botanical Garden, the marine museum, the Belémet Cultural Centre and, of course, the magnificent Manueline style Belém Tower, a UNESCO world heritage site.
The Ajuda Palace, the former Royal Palace can be admired up on the hill. Do not forget to try the Pasteis de Belém in the old Confeitaria.
Good to know
Belém comes from “Bethlehem”, symbol of birth.
It is from Belém that Vasco da Gama, who discovered to route to India, left. It is therefore the birthplace of the Portuguese colonial empire, which brought so much wealth to Lisbon and resulted in the construction of the famous Belém Tower and the Mosteiros dos Jerónimos, two timeless wonders both classified UNESCO world heritage sites since 1983.
The church of Santa Maria, in the Jerónimos Monastery, is the resting place of the two Portuguese hero of the sixteenth century: the navigator Vasco da Gama faces the great poet Luis de Camões.
Carcavelos Beach: 12 minutes by train (Cais do Sodré)
Train station: Belem Train Station : 10 minutes’ walk
Belem / Restelo is located 10mn from Lisbon
Belem / Restelo is chic & historical neighbourhood of Lisbon
Restelo, another residential district dating from the sixties is on the western fringes of city centre. Here, you are more likely to find a house with a garden and a pool. Many diplomats and foreigners share the few houses for rent in this beautiful district. There are also beautiful apartments overlooking the Tagus. In Restelo, you already feel a bit out of Lisbon: the avenues are wider, the views unobstructed.
The Belém Tower
Located along the Tagus, the Belém Tower originally commemorated the expeditions of Vasco da Gama whose discoveries include the sea route to India. Built in 1515, it is a symbol of the great Portuguese era. It was luckily spared by the earthquake of 1755, but was moved to the river banks by the tidal flooding that followed. Despite its diverse architecture, the tower gives an overall sense of purity and harmony. You will want to stay a while to admire and contemplate this monument, understandably considered today as the symbol of Lisbon. The Belém district is very pleasant, modern, the activity on the docks has changed and today there are more pubs, bars, a younger and trendier nightlife. Take the opportunity to admire, from the tram, the 25th of April Bridge.
The Monument to the Discoveries
52 metres high, the Padrao dos Descobrimentos, designed to commemorate the great individuals who helped make the discovery of the new lands of the Portuguese Crown, looks like a ship at the edge of the Tagus. Henry the navigator stands on the bow facing the 25th of April Bridge and Cristo Rei, two other great monuments of Lisbon. The Portuguese are proud of their explorers and we envy them a bit…
The pastéis de Nata
There may be allegedly 365 different cod recipes in Portugal, one for each day of the year, but the pastéis de Nata, the round pastries similar to custard cakes with a firmer consistency, also have an important place in Portuguese gastronomy. No wonder. They are absolutely delicious! The number of people queuing in front of the Antiga Confeitaria de Belém to purchase these delicacies can look impressive, but the waiting time is usually quite short.
This monument was declared a World Heritage site by UNESCO. The Mosteiro dos Jerónimos is one of the architectural wonders of Lisbon. You will find it in the Belém district, by the old port of Lisbon. Just as the nearby Belém Tower, this monastery is a testimony of the opulence of Portugal at the time of the great Discoveries. Its existence is closely linked to the discovery of India by Vasco da Gama in 1495 and the trade of Indian spices that ensued. You will love the stunning and recently renovated two floors cloister, particularly when the sun gives the stone a warm golden colour.
National Museum dos Coches
You will travel back in time in this museum and will be amazed by the superb collection of carriages of all kinds on display. Their decoration and the richness of the sculptures worthy of the greatest monarchs are impressive. It is one of the largest collections in the world and it rivals that of Versailles and Madrid. Visiting the Museum dos Coches is a good opportunity to take a break during your stay in Lisbon.
A word from the real estate expert of Belem / Restelo district of Lisbon
«Thanks to our analyses of the real estate market in Lisbon, to our understanding of the specificities of the Belém – Restelo area, and an excellent knowledge of the districts of the capital, LX Properties provides you with the best investment opportunities!»
Prices per m2 vary depending on the area of the district (between €5,200 and €6,500 euros/sqm) with even higher prices in the most upmarket areas (sometimes up to €8,000/sqm).
Belem / Restelo: real estate market conditions
Belém – Restelo, the last residential neighbourhoods before the suburbs of greater Lisbon and the first beaches, known for the Jeronimos Monastery, the Belém Cultural Centre and the Belém Pastéis factory. Here, you are more likely to find a house with a garden and a pool or apartments overlooking the Tagus. Many diplomats and foreigners share the few houses for rent in Restelo. The avenues are wider, the views unobstructed.
Belém – the poshest central residential neighbourhoods, very popular with the Portuguese bourgeoisie. They are very nice and are the most expensive per m2.
Discover the detailed prices for an apartment or a house / villa in Belem / Restelo per sqm.
Location: Belem / Restelo Lisbon
Type of property: Renovated apartment
Lowest average sale price (including agency fees): €5.200 /sqm
Highest average sale price (including agency fees): €8.000 /sqm
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