Santa Luzia and Portas do sol viewpoints are the best way to enjoy the neighborhood, daily visited by hundreds of tourists. From the 10th to the 15th of June, Alfama receives the Santo Antonio festivities, where people can taste the grilled sardines, dance and sing. In some way similar to the Rio carnaval, Alfama has its own school of dance who parades down Avenida da Liberdade with hand-made costumes to show their pride to be lisbonners. Over Alfama, the beautiful Pantheon place where every Tuesday and Saturday the flea market takes place.
Alfama one of the most rewarding quarters for walkers and photographers thanks to its medieval alleys and outstanding views. Old-fashioned residential neighborhood is now a step back in time. It is a village within a city still made up of narrow streets, tiny squares, churches, and whitewashed houses with tile panels and wrought-iron balconies adorned with pots of flowers, drying laundry, and caged birds. ��Its love to the fado and its proximity to the river are part of its DNA. It is still a poor area but its soul has something very special and won’t let anybody indifferent.
Most of the older residents have lived here all their lives and retain a strong sense of community, although their rent-controlled homes are now dilapidated, and an increasing number of wealthier people are investing in their properties and moving in. Other renovated buildings directly below the castle have been converted into some of the city's most atmospheric and unique hotels.
The sqm price has raised thanks to the touristic demand but it can’t be very high because it is limited by the weakness of constructions.
June festivities, fado houses are two of the most known attractions but not the only ones, the streets themselves have so much to show. It will be an ideal deal for small investments oriented to the short term rentals.