The defending Spanish champions will begin their La Liga campaign with a home game against Los Che on Sunday.
Albiol, who joined Madrid from Valencia in the summer of 2009, believes that Mauricio Pellegrino's side should not be underestimated as they can get a win at the Santiago Bernabeu.
"Valencia almost always play good matches at the Bernabeu," the centre-back is quoted as saying on Madrid's official website.
"I imagine that they'll also be very motivated because it's the first match of the Liga and they're playing against us. We'll have to be really good, very focused and play a good match in front of our fans.
"Their attack is dangerous but I think that if we're all focused and the team defends well, we'll be on our way to winning. That has to be our objective for the match."
Albiol also indicated that Valencia are third best team in the Spanish top flight.
"If I had to pick a team besides Real Madrid and Barcelona that could be in the running for this title, it would definitely be Valencia as they've come third in recent years," explained the Spaniard.
Madrid's bitter rivals Barcelona are also in action on Sunday as Tito Vilanova's side host Real Sociedad at Camp Nou in their opening game of the new Spanish league season.