Only one person from Formentera has requested the 10,000 euro aid to buy a home

FormenteraThe Balearic Government has received a single application from Formentera to access the 10,000 euro grants intended to facilitate the purchase of a home for young people up to 40 years old. Even so, the Directorate General for Housing continues to process applications and the deadline to submit new ones remains open until December 31, 2027, or until the available credit is exhausted.

955 requests

According to the data provided by the regional Executive, since the call was opened on July 17th, 955 requests have been registered in the Balearic Islands, but none of the first one hundred subsidies paid correspond to a home in Formentera.

The territorial distribution of the requests places Formentera at the bottom of the call, with a single application. In Ibiza, 26 have been registered, in Menorca 60, and in Mallorca 845.

Regarding the first payments, the Government has made one hundred grants effective: 90 correspond to homes in Mallorca, eight in Menorca, and two in Ibiza. Therefore, for the moment, there is no beneficiary from Formentera among these first subsidies. The Balearic Government points out that the requests are handled in order of arrival and that there are 23 requests that have not yet been assigned an island because they were processed through the registry.

The call initially has an endowment of six million euros for the 2026-2027 period and provides for a direct aid of 10,000 euros per home. The Government assures that it is working to increase the budget in light of the registered demand.

Requirements to access it

The grants are aimed at people up to 40 years of age who can prove a minimum of five years of continuous residence in the Balearic Islands and who have acquired or are in the process of acquiring a home in the islands since January 1, 2026.

The subsidy can be used for both already built homes and properties under construction, provided that the conditions of the call are met. In general, applicants cannot be owners of another home in Spain and must use the acquired property as their habitual and permanent residence for a minimum of five years.

Income

In general, income cannot exceed 54,600 euros per year, equivalent to 6.5 times the IPREM, with the increases provided for certain family and personal situations. The maximum price of the property is 382,000 euros.

The Government also reminds that this 10,000 euro grant is compatible with the New Young Mortgage program, which facilitates access to mortgage financing through guarantees to cover the down payment of the home. It can also be combined with regional tax bonuses and reductions for the purchase of a property and with other public or private aid, provided that the total does not exceed the total cost of the acquisition. Interested persons can consult the requirements and the application procedure on the website: adquisiciohabitatge.caib.es.