Updated: February 12, 2024
Situated in the Lisbon Metropolitan Area in Portugal, Setubal is a historical city famous for its flourishing fishing industry. From charming beaches, ancient architecture, and breathtaking views of the Atlantic to lively markets and a welcoming population, Setubal has it all.
If you are an expat looking to live beyond the hustle and bustle of the capital city yet remain connected to it, Setubal is the perfect place for you. Just an hour’s drive south of Lisbon, the city of Setubal offers various real estate options at affordable rates.
Due to the fact that navigating the Portugal real estate market can be a bit difficult without detailed local knowledge and a support network, it is best to acquire the expert service of a real estate agent in Setubal or the buyer-focused services of a buyer’s agent.
With solid connections across Portugal, our trained team at Goldcrest can help you get the best deal at the best possible price.
In this article, we will help you learn about the city, how to find Portuguese real estate agents, the perks of living in the region, and more.
An Introduction to Setubal’s Real Estate Market
Setubal Portugal real estate is the perfect choice if you are in search of the perfect blend of the city lifestyle, countryside pleasures, and a balanced community of locals and expats.
Whether you are in search of a luxurious villa, a beach-facing house in Portugal, or a modern apartment, you can choose from a variety of property options for real estate investments in Setubal. In the Historic Centre, you will find contemporary apartments offering easy access to transport and amenities.
If you would like to live closer to the ocean, you can consider the coastal suburbs of Terroa and Saboaria for your property search. The most popular suburbs for your consideration are Bonfim and Monte Belo, which both offer the best lifestyle and leisure options in Setúbal.
Foreign investors who want to purchase a home for rental income will be happy to know that the Portuguese real estate market intelligence unit, Confidencial Imobiliário, reported that Setubal’s gross rental yields stood at 7.7 percent in 2023. The average asking price for property in Setúbal stood at €2,466 per square meter in 2023. Note that the transaction price can be significantly lower than this as sellers look to sell the proeprty by a set date. It can also be more expensive, although this is less common.
Cost of rent in Setubal
Here, we will take a look at the monthly rental costs you can expect to pay when you lease an apartment in Setubal:
- One-bedroom apartment in the city center – €690 ($743)
- One-bedroom apartment outside the center – €470 ($506)
- Three-bedroom apartment in the city center – €908.33 ($977)
- Three-bedroom apartment outside the center – €1,050 ($1,130)
Why do you need a real estate agent in Setubal?
If you’re an experienced investor with sound knowledge of property investment projects and can request and share information in Portuguese, then it would be possible to purchase a home without any guidance.
However, buying and selling real estate can be complicated, especially when you are not a native of the country in which you are planning to make a purchase or sell a property.
Expertise in the market
Real estate agents may come in handy in situations such as this, as they can expedite all legal formalities and help you find the best deal. Making contact with an English-speaking realtor in Portugal can save you time and hassle in your search for property in the country.
Since a real estate agency will have access to an extensive database, it is usually easier to find properties through them. In addition to purchasing, real estate agents also assist if you are considering renting in Portugal – be it apartments, condos, or rental homes. Renting a property can be a good idea to use as a base while you scout out potential properties that you may want to purchase.
A local Setubal property expert can also help investors sell their homes or assist with property management if they seek to lease the home for rental income. However, it is essential that you look for a real estate agency that specializes in these services.
Navigating legal and financial processes
A real estate agent will be able to assist you with the following to ensure you have your legal affairs and finances in order:
- Assisting with the necessary legal documentation concerning your property
- Collaborating with real estate attorneys, the seller, and other relevant stakeholders
- Performing comprehensive property inspections to ensure there are no unresolved debts
- Validating the legal construction status of the property
- Ensuring the property owner’s identity and their legal authority to sell
- Assisting in the creation and execution of contracts
Personalized property matching
An agent can help you finalize your real estate investment and act as your single point of contact for all your needs – dealing with legal formalities, sharing information, assisting you with essential services, and more. Real estate agents help in ensuring a seamless investment experience for their clients.
In addition to this, real estate agents will provide a personalized search based on your unique requirements. While real estate agents work on behalf of the seller, having a buyer’s agent on your side can be your best advantage, as they work solely on behalf of the buyer and secure the best deal for you.
The biggest advantage to working with a buyer’s agent is that they have access to a wide variety of exclusive listings not typically found on the market and only operate with your best interest in mind, providing you with a personalized plan of action and present properties tailored towards your needs.
How to Find a Real Estate Agent in Setubal
A top-rated Setubal real estate agent will have in-depth knowledge of the local market, speak the local language, have experience negotiating the best prices, and have experience with navigating crucial rules and regulations for property purchases, from making the purchase offer to knowing where to request the property deed. However, how do you kickstart the process of finding a real estate agent in Setubal? Here, we’ll provide you with some tips.
Identifying your real estate needs
Begin by clearly defining your needs and preferences for your ideal home. Clearly outline details like size, location, and style to serve as a guide in your search. If you need to be located close to a school or hospital, then make sure to bear this in mind.
Searching for agents
Most companies have an online presence, making it quick and easy to narrow down potential options swiftly. Furthermore, online reviews and feedback from past clients provide valuable insights into their experiences. If you have any family, friends, or acquaintances who have worked with real estate in Portugal, get insights from them. When you have shortlisted a few companies, you can then get in touch with them, asking targeted questions, particularly focused on their experience with expats and in working with similar cases to yours.
An effective method for finding a suitable agent is to solicit referrals from family, friends, or colleagues who have engaged with reputable companies. If you have connections in Portugal, consider asking them for recommendations for a local company.
Evaluating potential agents
Consider using this checklist for a systematic evaluation of key criteria to help you make an informed decision when hiring a real estate agency or company focusing on residential purchases in Portugal.
Do they speak English?
Experience with International Buyers
Can they provide project data proving experience?
Property Market Insight
Do they have an exceptional understanding of the Portuguese real estate market to provide expert investment advice and services?
Focus on Real Estate in Portugal
Is their service focused on real estate in Portugal?
Track Record of Excellence and Communication
Do they maintain contact and have a track record of excellence?
Do they have business credentials to share with clients?
AMI License Number
Do they have an AMI license number?
Alignment of Company Values
Do their company values align with your interests?
Real Estate Agent versus a Buyer’s Agent
While working with a real estate agency is important, you should be aware that real estate agents represent the sellers who are their main customers and earn a higher commission from larger sales.
On the other hand, a buyer’s agent’s primary focus is not on selling real estate, but rather on exclusively representing you as the client.
To help you understand the key differences between working with a buyer’s agent and a real estate agency, we have created a comprehensive guideline showcasing each option’s advantages and potential drawbacks so that you can decide on the best service.
Real Estate Agent
Facilitates transactions for various parties
Exclusively works for the buyer throughout the process
Search & Selection Assistance
May present options, but not solely focused on buyer's needs
Focuses on finding options that suit the buyer best
Represents the seller's interests primarily
Solely represents the buyer's interests
Conducting Legal Checks
May overlook some legal checks for buyer's benefit
Ensures thorough legal checks for buyer's protection
Language proficiency may vary
Proficient in the buyer's language
Represents seller's interests in negotiation
Negotiates exclusively for buyer's benefit
May not prioritize all necessary documentation
Ensures all required documentation is in order
Time and Cost Savings
May not optimize for time and cost efficiency
Saves time and money by focusing on buyer's needs
Earns higher commission for higher sale prices
Does not earn based on sale price, focused on buyer
Goldcrest: How We Can Help
Goldcrest is your one-stop solution for all real estate sale, purchase, and rental in Portugal. We offer key real estate services to help you buy properties in Portugal at the best price. With years of experience in the property market and strong ethics, our team can guide you in choosing the best feasible property in the most desirable locations in the country. You can book a free call to discuss your options.
A Summary of Working with a Real Estate Agent
Most importantly, we have now established how working with a buyer’s agent like Goldcrest or a real estate service can save you time and hassle in your search for property in Setubal and help you successfully navigate the real estate market. After exploring the real estate market, and highlighting the key differences between a buyer’s agent and an independent real estate agent with market knowledge, you will be able to plan your roadmap for your property investment journey. To assist you with this task, take a look at the basic steps of the purchase process so that you can have an idea of what to expect and how to plan your steps ahead.
Step 1: Request an appointment to discuss your specific needs.
Step 2: Your agent will conduct a property search and arrange viewings.
Step 3: Once you have reviewed the properties presented by the agent and shortlisted the ones that meet your requirements, you and your agent can formulate an offer for the property.
Step 4: Shortly after the offer is accepted, your agent will assist with completing legal paperwork and other necessary formalities.
Step 5: It’s time to close the deal. Your buyer’s agent can help you with finalizing the legalities of the purchase, help you sign contracts and legal documents, and ensure you understand and agree with other aspects of the purchase.
Whether you are looking to buy in Setubal, Lisbon, or elsewhere in Portugal, we can simplify your buying process. Start planning your move to Portugal today, book a complimentary call with Goldcrest to discuss your options.
Frequently Asked Questions about How to Find a Real Estate Agent in Setúbal, Portugal
How do I find a real estate agent in Setúbal?
There are many ways to find an independent real estate agent, such as conducting online research, advertisements on social media platforms, or simply through word of mouth.
Is real estate expensive in Setúbal?
Real estate in Portugal is generally more affordable than in other European countries and is also more affordable than Lisbon real estate. The average asking price for property in Setúbal was €2,466 per square meter in 2023. Note that the transaction price can be significantly lower than this as sellers look to sell the proeprty by a set date.
Is Setúbal a good place to live in?
Yes, Setubal in Portugal is an excellent place to settle in. With an exceptional climate, fresh seafood, and strategically placed close to Lisbon, Setubal has it all.
How can I buy property in Setubal with real estate agent?
To purchase property in Setubal with a real estate agent, start by researching local agents, contacting them, and discussing your requirements. Top real estate agents for Setubal properties will guide you through the process, from property selection to closing the deal.
Note that real estate agents in Portugal work on behalf of the seller and will secure a higher commission for a higher sale. It can therefore be better to work with a buyer’s agent, who works solely on behalf of the buyer, protecting their needs.
How can I find Setubal real estate agent for luxury homes?
To begin your search for a suitable Setubal property agency for luxury properties, start with research. Narrow down your selection criteria by evaluating a company’s online visibility, its track record in the real estate market, and client feedback. Goldcrest, a local buyer’s agent, has extensive experience in procuring exclusive properties for discerning buyers in Portugal.
How can I find affordable housing real estate agents in Setubal?
Discover affordable housing by focusing outside the city center, comparing prices, seeking recommendations, and working with an English-speaking real estate agent in Setubal. Property specialists can often secure an excellent deal for you.
How can I find Setubal real estate agents for first-time buyers?
The process for finding an experienced real estate agent in Setubal Portugal is the same, whether you are a first-time buyer or not. Defining your requirements is the first step. Following this you can research narrow down, and reach out to prospective real estate agencies.
How can I find a real estate agent for historic homes in Setubal?
To find a real estate agent with a focus on historic properties in Lagos, begin by exploring local agencies online. When you have created a shortlist, ask about their proficiency in handling historical homes. Goldcrest is adept at assisting you in discovering a historic property that meets your criteria and navigating the regulations related to historic buildings.
How can I find real estate agents for apartments in Setubal?
The initial step to finding a real estate agent who can help you secure an apartment in Setubal involves defining your requirements. Subsequently, you can conduct research, narrow down your options, and reach out to potential real estate agencies. Bear in mind that real estate agents in Portugal work on behalf of the seller and will secure a higher commission for a higher sale. It can be better to work with a buyer’s agent, who works solely on behalf of the buyer, and will have your best interests at heart.