Bairro Alto is a great location to stay in Lisbon. It puts you within blocks of one of the best scenic overlooks, two of the funiculars, the tram that will take you to the castle and the Belem district... It is filled with small restaurants and bars (and they stay busy well into the night). If you don't like nightlife, avoid this place. I didn't go to any of the bars, but it is a part of town that I found to be safe late at night because there are always lots of people in the streets!
Many of the attractions, shopping etc are within walking distance, and the ones that aren't are served well by public transportation right in the neighborhood. I will definately stay in Bairro Alto next time I go to Lisbon!
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.