Only two of the first 100 grants paid by the Balearic Government under its €10,000 home-purchase assistance scheme have gone towards properties in Ibiza, while no properties in Formentera were included in the initial group of beneficiaries.
The regional government announced on 2 November 2026 that it had begun making payments under the programme, which is designed to help residents aged up to 40 buy a home in the Balearic Islands.
Of the first 100 grants, 90 correspond to properties in Mallorca, eight to properties in Menorca and two to properties in Ibiza. The total value of this first round of assistance is €1 million.
The figures highlight the limited representation of Ibiza and Formentera in the first group of approved beneficiaries. However, the programme remains open and applications from across the islands are still being processed.
Ibiza has 26 applications, Formentera has one
Since applications opened on 17 July 2026, the Government has received 955 applications across the Balearic Islands.
According to the figures published by the Housing Department, 845 applications came from Mallorca, 60 from Menorca, 26 from Ibiza and one from Formentera. A further 23 applications had not yet been assigned to a specific island because they were submitted through the general registration system.
These figures refer to applications received, not the number of grants already approved or paid.
The two grants allocated to properties in Ibiza therefore represent the island's share of the first 100 payments, rather than the final outcome of all applications submitted by Ibiza residents.
€10,000 to help young residents buy a home
The programme provides direct assistance of €10,000 per property to eligible buyers aged up to 40, inclusive.
Applicants must demonstrate at least five consecutive years of residence in the Balearic Islands and must have purchased, or be in the process of purchasing, a property in the region from 1 January 2026.
The scheme covers both completed homes and properties under construction, provided that all the conditions are met.
As a general rule, applicants must not own another property in Spain, and the home purchased must be used as their habitual and permanent residence for at least five years. Certain exceptions are предусмотрed under the programme's rules.
The maximum purchase price is €382,000, excluding taxes and other acquisition costs. Applicants' income must generally not exceed €54,600 a year, equivalent to 6.5 times the IPREM, although higher limits may apply in certain family or personal circumstances.
Six million euros initially allocated for 2026 and 2027
The programme has an initial budget of €6 million for the 2026–2027 period.
The Balearic Government says it is working to increase the available funding, while the Directorate-General for Housing continues to process applications from all the islands.
The application period remains open until 31 December 2027, unless the available budget is exhausted earlier. Applications are processed in order of receipt.
Can the grant be combined with other housing assistance?
The €10,000 grant can be combined with the regional government's Nueva Hipoteca Jove programme, which helps eligible buyers access mortgage financing through a guarantee scheme designed to assist with the deposit.
It can also be combined with applicable regional tax reductions and other public or private assistance, provided that the total financial support does not exceed the overall cost of purchasing the property.
The Government's first payment figures provide an initial picture of how the scheme is being distributed across the islands. With applications still being assessed and the programme open through 2027, the eventual number of beneficiaries in Ibiza and Formentera may change.