A productive transfer window at White Hart Lane has seen Spurs complete deals for Roberto Soldado, Etienne Capoue, Paulinho and Nacer Chadli.
Brazilian playmaker Willian is reported to be next in line, after passing a medical, while deals for Roma forward Erik Lamela and Real Madrid full-back Fabio Coentrao are said to be in the pipeline.
A recruitment drive in north London has been carried out amid intense speculation regarding the future of Gareth Bale, with Villas-Boas having once again moved to deny talk of a deal having been struck with Real Madrid for the Welshman.
Were Bale to stay, Spurs would be expected to position themselves among the Premier League frontrunners, but Villas-Boas feels it is too early to be setting their sights on the top flight crown.
He said: "I don't agree that we can be title contenders for this season coming because everything is happening, everything is changing.
"We have to create a team at the moment from all these new players that we have bought.
"We haven't had lots of time to work with them, but we believe that in the future we can definitely achieve it."
Villas-Boas landed four trophies in one season back in 2011, during his time in charge of Porto, but he believes it would be nigh on impossible for a club in England to achieve such a feat.
He added: "It is extremely difficult. Only a Treble has been achieved in English football, and that was by Manchester United.
"A quadruple has never happened. It's very difficult because of the demands of the Premier League along with the strong competitions such as the Europa League or Champions League.
"It could only be a dream to achieve it with Tottenham, but it is something that can happen in the future. We are building a very, very strong side."