Buying a house in Formentera?

Everyone knows Formentera is famous for its crystal-clear sea, fine sandy beaches, and the magical atmosphere that surrounds the island. Getting here has become very easy thanks to frequent flights to Ibiza and the many ferries and speedboats connecting the main island to Formentera in under an hour. When we think of a holiday in Formentera, the first thing that comes to mind is finding a rental to make the stay comfortable. But… have you ever wondered what it would be like to own a property instead of renting?

Well… who wouldn’t love that? Here are some facts if you're considering taking the leap and buying a home in Formentera.

The real estate market is constantly evolving and, unfortunately for buyers, prices keep rising year after year due to high demand and limited supply. The cost of a property depends on its prestige and location. A studio starts at around €200,000 (though they are very rare), a two-bedroom apartment can cost between €250,000 and €350,000, a house with land (the classic finca) between €500,000 and €1,500,000, and villas easily exceed €1.5 million.

If you decide to buy, you basically have two options: travel to the island yourself and look for the perfect home, or rely on a real estate agency like ours, which will help you find it and guide you through every step of the buying process.

Of course, if you choose the first option but don’t know the language or the territory, the process could be more complicated (and risky!) than you imagine. It’s not uncommon to fall victim to scams, such as advance payments sent to fake foreign sellers who vanish, or issues with property registration or zoning regulations that can block the transaction. Some properties cannot legally be used as residences, and local authorities are very strict about this.

If you love nightlife, the most popular area is Es Pujols, the island’s entertainment hub. If you’re looking for peace and quiet, head to Sant Francesc Xavier or Sant Ferran – two charming towns with everything you need. Prefer wild nature and dipping your feet in the sea just outside your home? Then the Migjorn coast is your ideal spot. And if you love a rural atmosphere, La Mola is perfect for you.

As for bureaucracy, the main advice is to open a bank account in Spain and obtain your N.I.E. (Foreigner Identification Number), both essential for completing the purchase.

Have we convinced you to take the leap?
We’re waiting for you!

Stay tuned! #casayentorno