The apartment is in a perfect location with a balcony overlooking the castle walls and also has a view of the River Tagus down the hill. It is right in the heart of the old Alfama area and so perfect for exploring but not noisy at night like Barrio Alto and Chiado.
It is equipt with everything you need in terms of cooking equipment and is a 10 minute walk from a supermarket. It is also very easy to get into the centre using the lift down into Baixa or walking down the hill to the cathedral.
Overall I'd say you at paying for the location and view more than the flat itself which is homely but a little run down. It would be perfect for a group of friends as can sleep 4 comfortably and maybe more.