The Lisbon Falls is located a short way north of Graskop. Although the 92m high falls, the highest in the area, is regarded as part of the Panorama route it is not quite at the escarpment but a couple of kilometres west from there. Together with the nearby Berlin Falls it does however fit in very nicely on the route. The view site looks down onto the falls but more adventurous visitors can take a pathway down to the pool at the bottom or even take a dip. Members of the local rural community trade hand made curios at the Falls.