There are a lot of good reasons to build on stilts without a basement; it disturbs the ground less, reduces flood risk, can be a lot cooler, or can preserve tree roots. The latter appears to be the main reason that Andrés Jaque Architectos did it for this house in Ibiza (which they call Never Never Land)- the trees grow right through it.
The model looks more like Barbie's Dream House than anything else,
but the roof will be covered in planting,
In the construction photos you can see the trees growing right through the frame,
It doesn't sit as lightly on the landscape as La Tour de Bébelles by Andre Lessard and Barbara Dewhirst.
The Loblolly House is on stilts because it is built in a flood plain.
Loblolly House: Pictures at Last
What Makes a Building Green? Kieran Timberlake Architects
The Wired Home Goes Green: First Pix of Loblolly House
It used to be common in Florida. What Lies Beneath: Our Homes' Foundations
And in Asia, where they are all being ripped down for their teak. Still Troubled about Teak