Parejo says Real Madrid have underperformed by some distance this season, while he also regards Barcelona whiz Lamine Yamal ahead of Kylian Mbappe in terms of ability and performance.
He told gathered reporters: "This year Real Madrid have shown a very, very low level for what their potential is. They have magnificent players, who can win matches in just two actions, but to tell the truth this year I have not liked them at all; neither tactically nor in defense, where they have been very weak.
"Any team could have scored two or three goals. It is also true that they have suffered very important losses that have not been compensated.
"Kylian Mbappé surprised me as a player. What he does is crazy but I understand football differently. For me Lamine Yamal contributes much more by scoring 20 goals less than Mbappé. Yamal is a boy who was touched by a magic wand.
"He has an incredible amount of resources, he is special, he has something that others don't have: the understanding of the game. It's incredible that at 17 he understands it in this way. It's not just about scoring a great goal for Spain against France, but knowing how to play every ball."
Barca worthy champions; they've changed their style
On champions Barcelona, Parejo says they're worthy LaLiga winners.
He continued: "I think Barcelona was the best team in every way: for their style of play, for their dynamism, for their speed. Before, Barcelona would win the ball back and make 15, 20, 30 passes, but now they don't do that anymore.
"Now they steal the ball and go, in two passes they're in the area and they counterattack a lot more. It's true that I don't agree with the very advanced defensive line... In certain situations, when you're winning, it's not a problem if you move the defense back 20 meters and don't take risks..."
On Villarreal's Champions League qualification, Parejo insists they deserved it.
He added, "Villarreal's qualification for the Champions League was more than deserved. I think we've put together a spectacular team. We're the second best away team. It's been a magnificent season and Villarreal, with their way of working, always get results."