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TODAY in Ibiza and Formentera
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Seven out of ten houses for sale in Formentera cost more than one million euros

Seven out of ten houses for sale in Formentera cost more than one million euros

Veronica Carmona Acedo

Wednesday, June 18 2025, 5.01pm

Housing in Formentera is markedly scarce and skewed towards the luxury market, with 74% of properties listed on Idealista priced above €1 million, leaving minimal options for buyers with modest budgets. The cheapest available flats are priced at €280,000, while the majority of demand falls below €210,000, a price point with no current listings on the island. Only six properties fall within the €300,000–€480,000 range, and 32 sit between €480,000 and €1 million. Meanwhile, over 100 properties exceed the million-euro mark, with the priciest, Mirlo Blanco, listed at €12.9 million. These figures starkly contrast with the average Balearic salary of €1,950 per month, underscoring the severe mismatch between local incomes and the island’s real estate market.

For the full article, please visit Diario de Ibiza website here.