Praça do Comércio

Praça do Comércio is the front door of Lisbon, a vast arcaded square that opens directly onto the Tagus, and it tells the story of the city's greatest catastrophe and recovery. For two centuries this was the Terreiro do Paço, the Palace Yard, site of the royal Ribeira Palace with its library, art collections and opera house; on the morning of 1 November 1755, a huge earthquake, followed by a tsunami and days of fire, destroyed the palace and much of Lisbon. The king's chief minister, the future Marquis of Pombal, oversaw the rebuilding, and the result was the Baixa Pombalina: a rational grid of streets with buildings designed to resist future quakes, and at its river end this monumental square, lined on three sides by uniform yellow arcades that housed the ministries and customs offices. In the centre stands the bronze equestrian statue of King José I, and on the north side the Arco da Rua Augusta, a triumphal arch completed in the nineteenth century, leads into the Baixa's main pedestrian street. On the river side, the marble steps of the Cais das Colunas descend into the water between two columns, the old ceremonial landing stage for royalty and dignitaries arriving by boat. The square is free and always open. For a modest ticket, a lift and a short stair take you to the top of the arch, where a terrace looks straight down Rua Augusta to the Baixa grid, across the square to the river, and up to the castle — one of the best-value views in the city.

The square has seen more than rebuilding. In 1908 King Carlos I and his heir were assassinated as their carriage crossed it, a shock that helped bring down the monarchy two years later, and in April 1974 troops of the Carnation Revolution gathered here as the dictatorship collapsed. Today the arcades hold cafés and restaurants, including the Martinho da Arcada, which has served coffee under the arches since the eighteenth century and was a haunt of the poet Fernando Pessoa; the Lisboa Story Centre, an interactive museum of the city's history with a dramatic earthquake room; and the Lisbon tourist office. The square hosts concerts, New Year celebrations and festivals, and a Christmas tree and lights in December.

Use the square as the starting point for the Baixa. Walk up Rua Augusta under the arch, with its patterned mosaic paving and street performers, to Rossio, the city's other great square, with its wavy calçada and baroque fountains, then into the Praça da Figueira and up to the Chiado. Along the way, look for the old trades still reflected in street names — gold, silver, shoemakers — and for the Pombaline buildings' identical facades. Ten minutes west along the waterfront is Cais do Sodré and the Time Out Market; to the east, the lanes climb into Alfama.

The riverfront is the place to linger. Sit on the steps of the Cais das Colunas as the sun goes down over the 25 de Abril bridge, watch the ferries cross to the south bank, and you will understand why Lisboetas are so attached to their river. The arch terrace is open daily and its last entries are earlier in winter, so time a visit for late afternoon if you want the soft light. The square is wide open and exposed, so bring sun protection in summer.