Valencia now has just 189 newly built flats available for sale. That is less than a quarter of the 784 on the market at the end of 2019, while the average asking price has risen to €4,575 per square metre of built area. The combination has an immediate consequence: even buyers who can consider a new home face fewer choices and prices 23.5% higher than a year ago.
The figures come from the third-quarter 2026 report by the Housing Observatory at the Universitat Politècnica de València. Its survey does not count every home in the city. It tracks the units still being marketed in new developments. The total of 189 therefore does not describe Valencia’s entire housing stock, but it does show how narrow the market has become for someone currently seeking a new-build home.
Available homes are disappearing faster than developments
The city had 110 active developments at the end of 2019 and now has 50. The number of available homes has fallen even faster, by 76%, suggesting that few unsold units remain in each scheme. Over the same period, the average price has multiplied by 2.4, from €1,915 per square metre to €4,575. It stood at €3,705 a year ago.
The pressure no longer stops at the city boundary. The report puts average new-build prices at €3,579 per square metre in Horta Nord, €3,359 in Horta Oest and €3,210 in Horta Sud. These are averages for broad areas, not guaranteed prices in every town or project, but they show that buyers moving their search to the first metropolitan ring are not finding a cheap market there.
Renting offers little relief. The average advertised rent in Valencia has reached €1,776 a month, 8.7% higher than in the third quarter of 2025 and almost twice the €938 recorded at the end of 2019. Listings fell from 1,909 to 1,572 homes in a single quarter. The Observatory calculates that a household would need a net monthly income of more than €5,300 to keep the average rent below one third of its earnings.
Protected housing is growing, but the keys have yet to arrive
The report does identify a different trend. Between January 2025 and 2 October 2026, 3,381 protected homes received provisional approval across the Valencian Community, including 1,074 in the city. Seven in ten are privately promoted. Approval confirms that a project is subject to the protected-housing regime; it does not mean the home is finished or ready to occupy.
Applications for protected-housing building permits in Valencia rose from an annual average of about 100 between 2015 and 2023 to 290 in 2024 and 598 in 2025. The 2026 total had reached 453 when the study closed. The Observatory links the latest increase to an August revision that raised the protected price ceiling by 7% to €2,568 per square metre of usable floor area, bringing it closer to construction costs.
The adjustment leaves two different timetables. Protected development is beginning to respond on paper, while new private-market homes available now continue to disappear. The Observatory expects the currently approved projects to be completed between 2027 and 2029 and says it takes close to three years to move from approval to the handover of keys.
The next useful test will not be the fourth-quarter report alone. It will be how many approved protected homes secure permits, start construction and reach completion, because only then will they add usable supply. Without a larger building programme, the Observatory forecasts that private new-build prices will exceed €5,000 per square metre in the third quarter of 2027.