Properties in Setúbal under €400,000

Portugal’s property market continues to offer fascinating options for buyers seeking holiday homes, investment properties, or full-time residences.

From authentic Alentejo villages to coastal suburbs near Lisbon, the range on the market right now spans compact city flats to villas with pools and gardens.

Setúbal is one of the most popular regions in the country for property hunters due to its proximity to Lisbon. However, as prices rise, it can be increasingly hard to find affordable properties in the area.

We’ve collected some standout listings priced at under €400k in Setúbal that are currently featured for sale on Portugal Homes.

This modern villa in the historic centre of Alcácer do Sal boasts unobstructed river views, balcony, and swimming pool. It’s ideal for someone who wants a slightly larger home with scenic views just 45 minutes from Lisbon.  

FROM €335,000

REF: DL31991

Features

A modern 1-bedroom flat of 59 m² in the Jardim Barreiro II development, featuring a private balcony and parking space and access to facilities like indoor and outdoor gyms, running track, community gardens and pools. Its location near supermarkets and riverside dining makes it an attractive option in an iconic region.

FROM €362,000

REF: JL94816

Features

Set within the heart of the city of Setúbal, this recently renovated apartment comes with a license for use as local accommodation, meaning it can work equally as a residence or investment. Featuring a private terrace space and sold fully furnished, it blends village tranquillity and a strong sense of community with modern features and finishes.  

FROM €398,000

REF: JL96582

Features

This compact apartment in a modern condominium features a range of services and offers an excellent investment opportunity. The apartment is designated for tourist accommodation, with management by the Almalusa Hotel, and the owner is able to occupy the unit for 6 weeks per year.  

FROM €350,000

REF: JL82680

Features

Setúbal’s property scene combines urban convenience, rural calm, and seaside lifestyle in ways that few other European markets can match.

In places like Alcácer do Sal, you’ll find heritage-rich towns with river views and community amenities, while Costa da Caparica and Comporta are drawing buyers for their proximity to beaches and lifestyle appeal.

Many areas are also seeing increased number of properties offered as serviced apartments or condominiums, with these frequently sold via fractional ownership.

Prices vary widely depending on location, size, and amenities, but the diversity available means that it’s still possible to find properties for reasonable prices, offering opportunities to a broad range of buyers. Lisbon access within about an hour remains a key advantage for many of these listings.