Setúbal, Setúbal, Portugal

Located in the parish of Azeitão, in Setúbal, this 2,859.20 m² plot benefits from a highly favourable urban planning framework, strengthened by the new Municipal Master Plan (PDM), which allows for a gross construction area of 4,288.8 m². The asset includes an approved architectural project for three residential buildings, totalling 22 units (six 1-bedroom, eight 2-bedroom, four 2+1-bedroom and four 3-bedroom apartments), an efficient mix that maximises market absorption and reduces stock risk. The proposed configuration directly addresses the dominant demand in the area, driven by families and young professionals who value accessibility, quality of life and proximity to Lisbon.
Azeitão shows consistent appreciation indicators, supported by the scarcity of new supply, the residential pressure of the Lisbon Metropolitan Area and the growing demand for premium suburban locations. The plot benefits from strategic access — the A2 motorway is 15 minutes away, the train station 10 minutes, and Lisbon 40 minutes — reinforcing its ability to attract qualified demand. Its proximity to essential services, Hospital da Luz Setúbal and St. Peter’s International School further enhances the attractiveness and liquidity of the final product.
From a financial perspective, the asset stands out for its robust return potential, with conservative projections indicating margins above €2.7M, supported by competitive construction costs, strong demand and the area’s continued appreciation. The size of the plot, the permitted volumetry and the already approved project significantly shorten development timelines and mitigate operational risks, making this land particularly appealing for developers seeking efficient investment cycles.
It should be noted that the sale of the land is not conditioned by the execution of the currently approved project; the future owner may choose to prepare and submit a new development proposal, in accordance with their objectives and the applicable urban planning procedures.
With nearly three centuries of history and a consolidated presence in Portugal, Sotheby’s International Realty provides specialised guidance throughout every stage of the process, ensuring rigour, discretion and a strategic market positioning.
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