A nice, clean and well-equipped apartment, short walking distance to many of the main attractions. Reception by the hosts was very warm and friendly and they offered many good tips for places to visit - especially the vineyard recommendation (Quinta do Pego) really hit the spot.
As some have pointed out, the apartment is next to a rather busy street and traffic noise can be heard inside. Also the air conditioning is on the noisy side :). Still, although my spouse tends to be a light sleeper, we both slept really well. Also the mattress was excellent.
Would recommend this apartment to anyone!