The new-build, multi-family housing market in Valencia is going through one of its most challenging periods, marked by soaring prices and an increasingly limited supply. According to a study by Foro Consultores Inmobiliarios, average home prices have risen by 63% over the past three years, while the price per square metre has increased by up to 75%, driven by scarce available land and strong demand.
The study, covering 2022–2025, highlights an unprecedented surge in prices. The average cost of the developments analysed now reaches €347,000, compared with levels recorded three years ago. For the most common type of property – a three-bedroom home – the average price stands at around €394,000.
The m2, even more strained
The rise is even more pronounced when examining prices per square metre. The current average stands at €3,772/m², a 75% increase compared with 2022. Some districts have seen particularly sharp spikes: in L’Olivereta and Jesús, prices have doubled, while Patraix, Benicalap and Quatre Carreres have recorded increases of 70–90%. Only Rascanya shows moderate growth, at around 11%.
A very limited supply for a city of this size
The available stock of new homes in Valencia is limited. The city currently has 43 new developments on the market, totalling 2,072 new homes. Of these, only 839 units remain for sale, around 40% of the total – a very low figure for a city of nearly 850,000 inhabitants.
At the current average sales rate of 2.2 homes per month, the available stock would be exhausted in less than nine months if no new developments are added to the market.
Unequal distribution by districts
Most of the available properties are concentrated in Quatre Carreres, Patraix, and Campanar, which together account for nearly 46% of homes for sale. In contrast, no new developments have been reported in districts such as El Pla del Real, Algirós or Benimaclet. In Ciutat Vella, there is only one active project, comprising eight homes, of which just four remain on the market.
Some districts have also seen a significant reduction in supply compared with 2022. In Quatre Carreres, the number of new-build homes has fallen from over 1,400 to fewer than 500, while Patraix has dropped from nearly 600 units to 260.
“The lack of available land is one of the biggest problems,” explains Esther Abad, director for the Levante and Catalonia region at Foro Consultores Inmobiliarios. “In Valencia, there is very little developable land left, and what is available comes at very high prices. On top of this, rising construction costs make it difficult to launch new projects.”
Are we reaching the limit?
Strong demand has driven price increases in recent years, although signs of moderation are beginning to emerge. “Over the past three or four months, we’ve started to see that we’re reaching our peak. Sales are still happening, but not with the same intensity as before,” notes Abad.
Price differences between districts remain stark. An average home in Poblats Marítims costs around €600,000, compared with about €200,000 in Pobles del Sud. In terms of price per square metre, Poblats Marítims reaches €6,000/m², while Ciutat Vella and L’Eixample are around €5,500/m².
Smaller homes and a mid-to-high-profile buyer
Three-bedroom homes remain the most common, accounting for 46% of the total, followed by two-bedroom homes (32%) and one-bedroom homes (13%). Compared with 2022, there is a clear shift towards smaller property types, particularly in city centres, where the market is increasingly oriented towards investors.
The properties analysed have an average constructed area of 91.24 m², while three-bedroom homes reach 108.63 m². Overall, the trend points to a gradual reduction in living space.
Buyers in Valencia are mostly local, with medium to high purchasing power, often purchasing additional properties. The return of Valencians who have lived elsewhere in Europe is also adding pressure to an already limited market.