With the imminent start of the tourist season, rental prices in Ibiza and Formentera are becoming increasingly hard to believe. To see for yourself, all you have to do is look at the offers on real estate portals and the adverts being shared these days on social networks. The truth is that, at reasonable prices, it can be said that there is zero supply in Ibiza, although there are no limits when it comes to skyrocketing prices.

Among the most eye-catching ads: a one-bedroom flat in the north of Ibiza that is only for rent from June to September. The price is 4,000 euros per month and electricity is not included in the price. At the same time, on a public page of a social network, one can read how people are «urgently» looking for a flat to rent in any area of the island, offering up to 4,000 euros per month and even the possibility of paying for the whole season in advance.

«Even the real estate agencies are looking for flats,» comments one user, surprised by the offer. In a «quiet and familiar» urbanisation near the sea, a three-bedroom flat is rented for the whole year. The rent is 2,500 euros per month and six months' rent is required in advance.

Cala Vedella

Also, in Cala Vedella, a one-bedroom flat is offered that could even be rented in winter, according to the advertisement.

Although it began advertising with a price of 2,000 euros per month and the requirement to pay for the season in advance, the person in charge has slightly reduced this amount and in the last few days the property has been marketed for 1,800 euros. In the centre of Ibiza, and preferably to companies, a three-bedroom flat is rented for 2,500 euros per month and also with six months in advance. With these conditions, it is difficult for a private individual to afford this rent. In Sant Josep, for townhouses with one or two bedrooms, the prices range between 2,000 and 3,800 euros during the season, also with two deposits and the advance payment of the rent.

In Ses Païsses, for a house with four bedrooms and two bathrooms, prices range from 3,000 euros for the month of May to 5,000 euros for the months of July and August. In no case will the price go below 2,500 euros and tenants will have to pay one month's deposit and agency fees in advance. For a ground floor apartment in Marina Botafoch, a two-bedroom property costs a whopping 5,000 euros per month. Among the «surprising» features are fitted wardrobes and a fully equipped kitchen. Near the Parque de la Paz, in Vila, a newly refurbished three-bedroom flat rents for 2,480 euros with a three-month deposit.

The price does not include utilities, community fees or parking space. Pets are not allowed in this flat and real estate agencies or people looking to sublet are asked to refrain.

3.000 euros

Flats in Santa Eulària for 3,000 euros per month or flats in La Marina, also at exorbitant prices, are other regrettable examples of the current real estate situation in Ibiza. Precisely, in this historic neighbourhood of Vila, for a one-bedroom flat in Calle Castelar, around 3,300 euros per month is demanded.

In another tourist area such as Platja d'en Bossa, some owners are asking 4,166 euros for a three-bedroom flat. Another one in Figueretes with similar characteristics also costs 4,175 euros. Another eye-catching advertisement is the one referring to a studio in Cala Vedella, a 70 square metre outdoor basement which costs 2,100 euros per month and only until October.

If before these high prices were concentrated in areas of Ibiza such as Marina Botafoch, the truth is that this year in places such as Sant Jordi, Sant Joan or Figueretes, rents are also sky-high.