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.
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