The Praça do Comércio, also known as Terreiro do Paço, is one of Lisbon’s most iconic and grand public squares, situated right on the banks of the Tagus River. This vast, elegant square is framed by classical 18th-century yellow buildings with grand arcades, which house government offices, shops, cafés, and restaurants. Its open layout and riverside location make it a vibrant and scenic spot to visit.
Historically, the Praça do Comércio was the site of the Ribeira Palace, the royal residence until it was destroyed by the 1755 earthquake. The square was rebuilt as part of the city’s broader reconstruction efforts under the guidance of the Marquis of Pombal, following a symmetrical, neoclassical design that emphasized grandeur and order.
At the center of the square stands the impressive equestrian statue of King José I, unveiled in 1775. The statue depicts the king mounted on his horse, trampling serpents—symbolizing the triumph over adversity after the earthquake. Another highlight is the Arco da Rua Augusta, a magnificent triumphal arch leading from the square into Lisbon’s bustling Baixa district. Visitors can even ascend to the top of the arch for panoramic views of the square, the river, and the city.
The Praça do Comércio is not only an architectural marvel but also a lively gathering place where locals and tourists alike come to enjoy the river views, street performances, and occasional cultural events. It’s a great spot for a leisurely stroll, enjoying a coffee at one of the elegant cafés, or simply soaking in the grandeur of this historic square.
Visit Notes
The square is a beautiful stop on your walk around historic Lisbon. It is a vast space that, believe it or not, used to be a parking lot in the 1960’s. The Tagus River borders one side of the square with arcaded buildings on the other three sides of the square. While we were visiting, there were vendor stalls set up along the outskirts of the square, selling all manner of handmade souvenirs.
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