Formentera property insights
Formentera property market consists mainly of luxury villas and country houses offering stunning views of the Mediterranean Sea. Local price for real estate ranges from €1 mil. to €9 mil. The average price for an apartment in Formentera is aroud 4,300€ per sq. meter and for a house it’s 8,200€ per sq. meter, what is almost a double. However, the stunning sea views raise the price of Formentera properties to 10,000€ per sq. meter in average.
15. July 2018
Sale price distribution in Formentera
Sale price per sq.m. for each property price in Formentera
Why Formentera property?
Formentera – a pine paradise. Pine forest is the main decoration of this small island, covering the area 90 sq.km. with the population around 10,000 inhabitants. Winter here is mild, and the winter temperature does not go below +15 °C. Summer is dry, but the maximum level of heat does not exceed the level of +30 °C. The swimming season lasts from April to October. “Sunny Island” – so Formentera is called along with Ibiza. By the way, you can get here only from this neighboring island. There is a regular ferry, sailing from Navy Pier in Ibiza. The journey takes not more than 1 hour.
The peculiarity of this island is that thanks to its unusual configuration, the sea is visible almost from every point. And one can not only see it but also enjoy it on numerous beaches. Some bays of the island have wonderful underwater grottos. Pine forests are found here side by side with palm trees in a remarkable manner, and Mediterranean landscapes intersperse with typical African landscapes. This is for a reason, as the distance from Formentera to Algeria is less than to Barcelona. The numerous windmills give to the landscape of the island its special charm.
Nature here looks remarkably untouched, perhaps, because the island remained uninhabited for a long time. In ancient turbulent times, local residents, frightened by constant attacks of the Barbary pirates, thought it best to leave the island completely. They returned only at the end of the XVII century, when there was a guarantee of their security. Therefore, nowadays, Formentera is referred to as an “island of peace”.
The main point of interest on the island is a natural reserve of Las Salinas (salt ponds), located in its northern part. Since 2001, this area is protected by law. This miracle created by nature, thanks to its rich flora and fauna, was inscribed on UNESCO’s World Heritage list in 1999.