Access to housing has become one of the main challenges facing the property market. In response, local authorities are exploring new ways to increase the supply of affordable homes. Paterna has taken a step in this direction by acquiring a 15,000-square-metre plot in the Santa Rita neighbourhood, intended to support the construction of publicly protected housing.
Today, at Quinta Avenida Inmobiliaria, we take a closer look at this transaction and its potential implications for residential development in the Valencian municipality.
Paterna Acquires Land to Increase the Supply of Protected Housing
Paterna City Council has won an auction to acquire a 15,000-square-metre plot in Santa Rita, opposite the Los Molinos urban development. The purchase was completed for €390,000, despite the land being valued at approximately €2.5 million.
The difference between the purchase price and the estimated value amounts to €2.11 million, allowing the council to secure additional land for public housing initiatives.
According to the council, 100% of the homes built on this plot will have some form of public protection status. The initiative aims to improve access to housing and expand the options available to people who face difficulties entering the residential property market.
A New Development Next to the Los Molinos Residential Area
The plot is located in an expanding part of Paterna, next to the Los Molinos residential development. This area already has significant plans for further urban growth, including approximately 1,600 homes, around 740 of which will be publicly protected.
Los Molinos covers more than 130,000 square metres and includes public spaces designed to improve residents’ quality of life. These include 11,381 square metres of green spaces and gardens, alongside roads, streets and a public car park with approximately 450 spaces.
The newly acquired land will allow the council to continue promoting residential development in the area. In addition to future homes, plans include parks, green spaces and public services to meet the needs of the neighbourhood.
The Number of Homes and Construction Dates Are Yet to Be Confirmed
Although the land acquisition has been completed, several important details remain undecided. The council has not yet announced how many homes could be built on the plot or when construction might begin.
Urban planning and construction schedules will be key to determining the scale of the project and when the homes could become available.
For now, the main commitment is that all homes built on the land will be granted some form of public protection status. The measure is intended to help address the difficulties many people face when trying to secure suitable housing in the municipality.
What Does This Mean for Paterna’s Property Market?
The addition of new land for protected housing highlights the importance of expanding residential supply in municipalities across the Valencia metropolitan area. Paterna continues to develop new residential neighbourhoods, combining private housing developments with initiatives designed to improve access to publicly protected homes.
However, acquiring land is only the first stage. For these initiatives to have a tangible impact, further progress will be needed in planning, construction and making the homes available to residents.
From a property market perspective, new developments can help diversify the housing supply and respond to different residential needs. Their overall impact will depend on factors including the final number of homes, construction timelines and the eligibility requirements for protected housing.
Conclusion: More Land to Support Public Housing
The acquisition of this 15,000-square-metre plot represents another step in Paterna’s strategy to increase the land available for protected housing. The transaction stands out both for its purchase price and for the commitment to reserve all future homes for some form of public protection.
Although the number of homes and construction schedule have yet to be announced, the project adds to the residential expansion around Los Molinos and the wider efforts to improve access to housing in the municipality.
At Quinta Avenida Inmobiliaria, we closely follow developments in the property market and new initiatives that could influence the housing supply. If you are looking to sell, buy or rent a property, our team can help you make informed decisions and find the right strategy for your home.
