It is quite usual to set a well at or near the center of a public square, as here. Technically, this is actually a fountain, not a well, I believe - the water is brought in, probably by gravity, from the nearby hills. This distinction is of no importance from a social standpoint.
Notice how many people are in the street, and that they are using the full width of the street, as if it belonged to them, which it did, and still does.
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