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Setúbal · report

New homes in Setúbal

89.2% more homes were licensed for construction in the last 12 months than in an average year of the past decade.

Licensed, 12 months
633
Per 1,000 residents
4.5

Homes licensed for construction in Setúbal

Dwellings in new buildings licensed over the previous 12 months, at each month.

  • Setúbal
  • Ten-year average
Show the numbers
PeriodSetúbal
Aug 2026633
Jul 2026618
Jun 2026548
May 2026585
Apr 2026605
Mar 2026484
Feb 2026407
Jan 2026260
Dec 2025250
Nov 2025305
Oct 2025301
Sep 2025298
Aug 2025308
Jul 2025392
Jun 2025407
May 2025358
Apr 2025319
Mar 2025333
Feb 2025348
Jan 2025337
Dec 2024448
Nov 2024487
Oct 2024479
Sep 2024474
Aug 2024481
Jul 2024422
Jun 2024414
May 2024456
Apr 2024474
Mar 2024463
Feb 2024482
Jan 2024482
Dec 2023403
Nov 2023317
Oct 2023294
Sep 2023375
Aug 2023377
Jul 2023382
Jun 2023381
May 2023356
Apr 2023367
Mar 2023364
Feb 2023351
Jan 2023365
Dec 2022348
Nov 2022360
Oct 2022384
Sep 2022299
Aug 2022301
Jul 2022296
Jun 2022313
May 2022310
Apr 2022299
Mar 2022320
Feb 2022325
Jan 2022317
Dec 2021320
Nov 2021312
Oct 2021324
Jul 2021312
Apr 2021327
Jan 2021310
Oct 2020313
Sep 2020349
Aug 2020349
Jul 2020351
Jun 2020319
May 2020311
Apr 2020333
Mar 2020347
Feb 2020365
Jan 2020356
Dec 2019366
Nov 2019318
Oct 2019329
Sep 2019304
Aug 2019300
Jul 2019294
Jun 2019291
May 2019281
Apr 2019253
Mar 2019256
Feb 2019251
Jan 2019238
Dec 2018229
Nov 2018248
Oct 2018245
Sep 2018256
Aug 2018280
Jul 2018283
Jun 2018272
May 2018269
Apr 2018287
Mar 2018290
Feb 2018278
Jan 2018250
Dec 2017241
Nov 2017212
Oct 2017207
Sep 2017174
Aug 2017154
Jul 2017154
Jun 2017173
May 2017171
Apr 2017149
Mar 2017293
Feb 2017287
Jan 2017290
Dec 2016287
Nov 2016285
Oct 2016276
Sep 2016289
Aug 2016286
Jul 2016262
Jun 2016238
May 2016236
Apr 2016229
Mar 201664
Feb 201665
Jan 201660
Dec 201559
Nov 201557
Oct 201555
Sep 201538
Aug 201529
Jul 201527
Jun 201539
May 201536
Apr 201535
Mar 201535
Feb 201539
Jan 201538
Dec 201435
Nov 201433
Oct 201435
Sep 201435
Aug 201436
Jul 201433
Jun 201418
May 201420
Apr 201414
Mar 201415
Feb 201410
Jan 20147
Dec 201310
Nov 201314
Oct 20138
Sep 201324
Aug 201327
Jul 201326
Jun 201329
May 201329
Apr 201333
Mar 201334
Feb 201342
Jan 201342
Dec 201248
Nov 201248
Oct 201251
Sep 201240
Aug 201238
Jul 201246
Jun 201250
May 201255
Apr 201259
Mar 201265
Feb 201260
Jan 201268
Dec 201186
Nov 2011103
Oct 2011101
Sep 201198
Aug 201197

Homes finished and licensed each year in Setúbal

Homes completed in new buildings (columns) against homes licensed for construction (line), each year since 2011. INE.

  • Homes finished
  • Homes licensed
Show the numbers
YearHomes finishedHomes licensed
2025260250
2024190448
2023246403
2022237348
2021233320
2020216293
2019254366
2018198229
2017113241
201677287
20155259
20144135
20133710
201212848
201131386
Homes finished per 1,000 residents, 2025
1.8

Who built the homes finished in Setúbal

Who built the homes completed each year, as a share of that year. INE, since 2011.

  • Cooperatives and others
  • Public bodies
  • Private individuals
  • Companies
Show the numbers
YearCompaniesPrivate individualsPublic bodiesCooperatives and othersTotal
202570.0%30.0%0.0%0.0%260
202443.7%56.3%0.0%0.0%190
202354.5%45.5%0.0%0.0%246
202250.2%49.8%0.0%0.0%237
202149.8%50.2%0.0%0.0%233
202040.3%58.8%0.9%0.0%216
201960.6%38.2%0.4%0.8%254
201869.7%30.3%0.0%0.0%198
201746.9%52.2%0.9%0.0%113
201653.2%46.8%0.0%0.0%77
201551.9%48.1%0.0%0.0%52
201463.4%36.6%0.0%0.0%41
201324.3%75.7%0.0%0.0%37
201262.5%35.9%0.0%1.6%128
201163.3%36.7%0.0%0.0%313

Homes finished in Setúbal, by number of bedrooms

Homes completed in new buildings by number of bedrooms, as a share of each year. INE.

  • Four or more
  • Three bedrooms
  • Two bedrooms
  • Studio or one bedroom
Show the numbers
YearStudio or one bedroomTwo bedroomsThree bedroomsFour or moreTotal
202515.0%25.8%32.3%26.9%260
20244.7%10.5%27.9%56.8%190
20230.8%17.1%37.8%44.3%246
20220.4%5.9%50.2%43.5%237
20211.3%16.3%38.6%43.8%233
20200.9%6.5%53.2%39.4%216
20193.9%11.8%55.5%28.7%254
20181.0%19.2%54.5%25.3%198
20170.9%8.0%58.4%32.7%113
20161.3%6.5%41.6%50.6%77
20151.9%19.2%57.7%21.2%52
20144.9%4.9%34.1%56.1%41
20132.7%16.2%45.9%35.1%37
20120.8%12.5%53.1%33.6%128
20113.8%27.2%42.2%26.8%313

A licence is permission to build, not a finished home: most are completed one to three years later, and some never are. INE publishes licensing three months at a time, so four windows make a year.

Other reports for Setúbal

Next 12 months

Asking prices have an 80% chance of landing between €3,242/m² and €3,627/m² by September 2027.

Expected, September 2027
€3,434/m²
Chance of a rise
93%

Affordability

At the bank valuation, a 90 m² home costs €248,670. With 10% down and a 30-year mortgage, the payment is €944 a month. Banco de Portugal caps it at 50% of a household's net income.

Payment, two incomes
35%
Payment, one income
71%

Buy or rent

Owning a 90 m² home costs less each month than renting it. Owning counts interest, running costs and the return the deposit could earn, at the median sale price. Repaying the loan is saving, so it is left out.

Rent per month
€1,008
Owning per month
€871

Asking against valuation

Sellers ask 16.3% more than banks value homes at. A year ago the gap was +22.1%.

Gap today
+16.3%
Change in a year
−5.8 pp

Foreign buyers

Over the last 12 months, buyers domiciled abroad paid 18.8% more per m² than buyers living in Portugal.

Abroad against residents
+18.8%

Past cycles

Bank valuations have fallen by 3% or more once since 2011. That fall began in January 2011.

Deepest fall
−22.5%
Recovery from the low
44 months

People and new homes

In 2025 the population grew by 829 while 260 homes were finished: 3.2 new residents for every new home.

New residents per new home, 2025
3.2
Population change, 2025
+829

Empty homes

10.2% of the 63,195 homes counted in the 2021 census stood empty, whether for sale, to let or for other reasons.

Empty, 2021 census
10.2%
Empty homes
6,432

Renovation

In 2025, 6% of the buildings finished were work on existing buildings: extensions, alterations and reconstructions.

Work on existing buildings, 2025
6%
Reconstructions per 100 new buildings
0.0

Public housing works

Public bodies signed €31.2M of housing works here in 2025, and €63.9M since 2012.

Signed in 2025
€31.2M
Per resident, 2025
€221

Data: INE, ECB and others · updated October 27, 2026

Asking prices and bank valuations are not sale prices. This is a description of public data, not financial advice.

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