«ONLY ONE IN EVERY TEN RENTALS IN VALENCIA IS SUITABLE FOR A FAMILY WITH A MEDIUM INCOME»

The market price of rentals in Valencia reaches 1,304 euros, 417 above what would be reasonable

A large part of the current supply of two-bedroom rental apartments in Valencia have prices that exceed the acceptable limits and those who access them must allocate more than 30% of the recommended income.

A study carried out by the real estate portal Idealista reveals that the reasonable and affordable price in the capital of the Turia should reach a maximum of 887 Euros, while the market value is actually 1,304 Euros, which is an overprice.

The aforementioned portal explains that “the financial consensus advises that a family should not allocate more than 30% of its income to paying for a home (rent, in this case).

Idealista has used the household income data published by the INE of each provincial capital and with that figure has calculated what would be the maximum rental price that could be paid in each of them (what is known as reasonable rent).

Specifically, the city of Valencia has a low percentage of homes with a reasonable rent, since a price of 2,300 Euros per square meter has been recorded in most of the homes.

The number of sales in the fourth quarter of 2024 in Valencia has been 10,363, with an increase of 1.2% compared to the third quarter and 30.4% over the same quarter of 2023, which for real estate agents “confirms its strength despite the Dana”.

In addition, during 2024 a total of 38,770 sales have been registered with a year-on-year increase of 5.7%, just short of the closest maximum, recorded in the second quarter of 2023 when the cumulative total was 39,259. This is reflected in the ‘Report on the real estate market for the fourth quarter of 2024’, prepared by the Valencia Association of Real Estate Agents, a year that is completed with a volume of sales at levels close to 2022 when the highest results of the last seventeen years were achieved.

On the other hand, the report reflects that prices continue to rise, exceeding the price per square metre each year, leading a large part of the population to make unsustainable economic efforts.