If you have 18 million euros, this paradise can be yours
Talks between the Cinnamonds and the island government to reach an agreement on the sale of S'Espalmador began a year ago, when the current owners asked for the islet 24 million euros , informs El País . Since then, the price has been lowered by six million euros.
However, Formentera cannot bear the cost of the purchase alone (the amount equals the Consell's annual budget). Thus, this September it will meet with the Balearic Government to try to reach a collaboration agreement in this transaction. Among other possibilities, they also value the possibility of requesting help from the central Executive and the European Union.
It is part of the Ses Salines Natural Park
In the event that an agreement with the public administration is not possible and the island changes hands, maintaining its private ownership, the new owner will have to respect the environmental protections that prohibit building there.
S'Espalmador has been owned by the Cinnamond family since 1932, when the British Bernard Cinnamond, grandfather of the current owners, He acquired it from Carlos Tur for 42,500 pesetas.