Praça do Comércio (Terreiro do Paço) in Lisbon

Right in the center of Lisbon, in Baixa, you find Praça do Comércio, also known as Terreiro do Paço, a massive square with a statue in the middle.

This is where there are often events and people are celebrating, and during New Year, this is the place to see the fireworks.

It’s surrounded by restaurants and cafés, and it’s right down to the Tagus River, where you get a beautiful view of Almada on the other side of the river.

I always have to visit the place when I’m in Lisbon; it’s just a beautiful sight, and you can feel the history when you’re here.

This iconic square dates back to the 16th century, and it has played a significant role in many of Portugal’s most meaningful events.

Originally known as the Terreiro do Paço (Palace Square), it was the site of the Royal Palace until it was destroyed in the Great Lisbon Earthquake of 1755. After the earthquake, the square was rebuilt to symbolize the city’s recovery and its importance as a trade center.

Throughout the years, Commerce Square has witnessed some of Portugal’s most significant events, including the Proclamation of the Republic in 1910 and the Carnation Revolution in 1974.

Nowadays, it is a popular tourist destination, and it’s not difficult to see why. With its grand arches, stunning views of the Tagus River, and vibrant atmosphere, the Praça do Comércio is truly beautiful.

Would you like to see more nearby attractions? Then check out my interactive Lisbon map.

Arco da Rua Augusta (Triumphal Arch)

The Rua Agusta Arch is what you see above the entrance of the Praca do Comercio, and it’s where the main pedestrianized shopping street in Lisbon starts.

The Rua Augusta Arch was constructed later and completed only in 1873, a century after the original plans. When you walk up the Rua Augusta Arch, you reach a viewing platform that is 30 meters high with a 360-degree view of the Baixa District.

The Rua Augusta Arch was designed by Santos de Carvalho, a Portuguese architect, to celebrate Lisbon’s reconstruction after the 1755 earthquake.

At the top, you’ll see several statues representing Portuguese figures like the Marquis de Pombal and Vasco da Gama.

The Rua Augusta Arch is one of the best viewpoints in Lisbon, and the entrance fee is €2.50($2.7).

Portuguese King Joseph I Equestrian Statue

In the middle of the square, you’ll see a massive statue, which is a historical monument.

It’s named the Joseph I Monumental Statue. It was built in honor of King Joseph I, who was the monarch of Portugal from 1750 to 1777.

It was designed by the Italian sculptor Joaquim Machado de Castro and completed in 1775. It is considered one of the finest examples of equestrian sculpture in Europe.

The statue depicts King Joseph I on horseback, dressed in royal robes and holding a wand. Over the years, the statue has undergone several restorations and renovations.

In 1833, during the Portuguese Civil War, the statue was vandalized by rebels who removed the bronze horse and melted it down for ammunition. The statue was restored in 1843, and the horse was replaced with a new bronze casting.

Today, the Joseph I Equestrian Statue is a popular tourist attraction in Lisbon. It is considered an essential symbol of Portuguese history and culture and a testament to its rich artistic heritage.

Cais Das Colunas

Cais das Colunas is a set of iconic marble columns at Trade Square (Commerce Square) in Lisbon, Portugal.

If you walk down to the Tagus River, you’ll get to see them on the platform where you can walk down at low tide.

These columns are a distinctive feature of the square and hold historical significance. “Cais das Colunas” translates to “Quay of the Columns” in English.

They were initially part of a larger structure that extended into the river and served as a ceremonial entrance for boats arriving in Lisbon. The columns are made of white and pink marble.

There is often something happening on the platform, either someone playing music or selling ice cream, and what I love is that people are dancing and having fun; it’s such an awesome vibe.

Lisboa Story Center

At Lisboa Story Center, you can learn the story of Lisbon, its history, culture, and traditions through interactive exhibits, multimedia presentations, and audio-visual displays.

It’s located inside the beautiful yellow building you can’t avoid seeing.

The entrance fee for adults is €7.5($8.1) and for kids, €3.5($3.8).

Avenida Ribeira das Naus

Avenida Ribeira das Naus is a beautiful waterfront area at the Tagus River where you can experience beautiful views of the river and relax at one of the restaurants.

The last time I was here, there was a small wagon selling freshly pressed pineapple juice and coconuts; it tasted amazing.

The area has a long history, and it was once an important port for ships traveling to and from Lisbon.

Taste Portuguese Wine or Beer

You’ll find the Wines of Portugal Tasting Room in Lisbon in the west area of the square. Here, you can try all types of Portuguese wine; let me tell you, it’s incredible. The majority is dry wine, and it tastes amazing.

You can also experience the Museum of Beer(Museu da Cerveja), where you can try all types of beer, and there are often events here as well.

A fun note is that next to the Beer Museum, there is a tiny stand selling ginjinha. Try it if you’re here. It’s a cherry liqueur that tastes incredible. It’s my favorite place to get it.

You can also book a wine-tasting event.

Places Near Praça do Comércio

• Walk just 380 meters east to discover the Lisbon Cathedral, a testament to the city’s architectural heritage.
• As you’re already right in Baixa, walk just under the triumphal arch, and you’ll get to the main shopping street in Lisbon.
• For panoramic views, walk 567 meters to the Santa Justa Lift and take it up to a beautiful viewpoint.
• You can walk to Alfama and see the São Jorge Castle, a beautiful castle with an amazing view.
• One of my favorite squares is just a 5-7 minute walk away, and it’s Rossio Square, with quite a heavy history.

Tip: One of the best times to visit the largest square in Lisbon is over New Year.

Wrap-Up

When you’re in Lisbon, you can’t miss the Baixa area, and it’s right here that you find Praça do Comércio with the beautiful Arco da Rua Augusta.

A good Instagram shot is if you go right below the Rua Augusta Triumph and point at the ceiling; it’s beautiful underneath.

Take advantage of the many restaurants and turn down your tempo in this area; it’s beautiful, and it’s relaxing to spend an hour or two here.

One negative thing about the area is that some people are trying to sell contraband. Just say no and walk away as they don’t do anything. The police can’t do anything as what they’re selling is fake.

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