Why go

Praça do Comércio is Lisbon’s front door. For centuries this great open square on the Tagus was the site of the royal palace, the Paço da Ribeira, which is why many locals still call it Terreiro do Paço. The palace and its library were destroyed in the earthquake, fire and tsunami of 1 November 1755, and the Marquis of Pombal had the whole Baixa rebuilt on a grid of straight streets that runs inland from the square.

Today three sides of the square are lined with yellow arcaded buildings that house government offices, cafés and restaurants, and the fourth opens onto the river. In the middle stands an equestrian statue of King José I, and on the inland side the triumphal Rua Augusta Arch, completed in the 19th century, leads into the pedestrian shopping street of the Baixa.

The square is the natural starting point for a first walk around Lisbon, and climbing the arch gives you one of the best views over the rebuilt city.

What to see

  • The Rua Augusta Arch. Statues of Glory, Genius and Valour crown the arch, with figures of Vasco da Gama and the Marquis of Pombal below.
  • The arch viewpoint. A lift and a spiral stair take you to a rooftop terrace above the square.
  • The statue of King José I. The bronze horseman has stood at the centre of the square since the 1770s.
  • Cais das Colunas. Marble steps between two columns lead down into the river, the old ceremonial landing stage.
  • The arcades. Café Martinho da Arcada, one of the oldest in the city, was a haunt of the poet Fernando Pessoa.

Plan your visit

The square is free and always open. The arch viewpoint, run by the Lisboa Story Centre, opens daily from 10am to 7pm, with last entry at 6.30pm. A ticket costs €5, although some guides still quote €3.50; children up to 5 and Lisboa Card holders go free. A lift takes you to the clock room on the second floor, and then 74 steps lead up a narrow spiral to the roof, so the terrace is not fully accessible.

The square is busiest in the middle of the day; it is at its best in the early morning and at sunset, when the light falls on the arcades and the river. In December it is the setting for the city’s Christmas tree, switched on in 2026 on 29 November, and on 31 December it hosts Lisbon’s free New Year’s Eve party.

The Terreiro do Paço Metro station on the blue line is on the square, and trams 15E and 25E stop nearby.

Ferries across the Tagus leave from the Terreiro do Paço river station at the eastern corner of the square, and a riverside promenade runs west to Cais do Sodré. Café terraces under the arcades are pleasant but more expensive than those in the streets behind.

Nearby

Rua Augusta leads north through the Baixa to Rossio. Lisbon Cathedral and Alfama are a ten-minute walk east, the Chiado is uphill to the west, and the Time Out Market at Cais do Sodré is about 15 minutes away along the river.