It was laid by Dominican friars and appears by its name in the 16th century. at the time it would have been a crossing situated just before the Largo de São João Novo, The Belmonte azuleijo tile pattern (after which the street was named after) can still be seen on the buildings where it has survived to this day.
Despite not being moderate length the street holds some hidden treasures such as the Escovaria de Belomonte, one of the oldest businesses of the city, and perhaps in the Iberian Peninsula. The street houses some of the best examples of the picturesque 17th and 18th century architecture typical of downtown Porto. One of the houses, today, is home to the esteemed Escola Superior Artística do Porto.
Near the beginning of Rua de Belomonte, springs the extensive staircase of Vitória. It is a somewhat difficult climb, however, it is one of the fastest connections between the lower and upper part of Victoria Hill. Also, from here, one can contemplate one of the most beautiful views of medieval Porto. This is also one of the places where the Jewish presence in the city has survived to this day. Porto was for many centuries home to a large Jewish community who around the fourteenth century, had been forbidden to live on the cathedral’s hill, for this reason, it was transferred to the Olival hill.
Thus came the Jewish quarter of Porto, on top of which a new synagogue was erected. However by the end of the 15th century the Jewish community was expelled from the country. But the stairways leading through the Jewish quarter and the synagogue who were renamed Stairs of Victory, are still today called Stairs of the “Esnoga”.
Source: Joel Cleto, in obradouro blog