The home currently being raffled

YOU can now get a home in Spain for just €5… well, if you’re lucky that is. 

It’s all thanks to a pioneering business dedicated to raffling off properties.

LotoHome will sell 70,000 raffle tickets at €5 each, and when they are all bought, a winner is chosen.

It means the homeowner walks away with €350,000 guaranteed.

The latest home is a completely refurbished, two-bedroom, one-bathroom property just five minutes from the beach in the middle of Alcalà de Xivert in Castellón.

It comes with a storage room, basement, living room, dining room, kitchen and two terraces.

The winner will be announced next February 14, with hundreds of tickets already being sold.

Anyone from around the world can buy a ticket since the company paired with PayPal.

Founder Pepe Bolumar got the idea of LotoHome after raffling off his grandmother’s home in Castellon in 2014, when the property market was still recovering.

New home could be yours for just €5

“We thought that raffling it off would be a good formula, as well as being a way to launch this novel business and showing that it can work, that it can be a profitable business,” he told El Pais.

They managed to sell 32,000 of the 40,000 raffle tickets at €10 each, with punters from as far away as Africa, Latin America, Russia and Canada.