A FOUR-BEDROOM house in Valencia will change hands for €10 after its previous owners, faced with Spain’s ailing property market, got creative.
Their strategy: a raffle.
The Bolumar family inherited the 141m2 house in the town of Segorbe and after failing to sell at €90,000, spent a year becoming the first in Spain to raffle off their house.
Some 32,000 €10 tickets were sold from a Valencia kiosk and online on their website lotohome.es after news spread on social media.
Most tickets were bought in Spain but there was also interest from Florida, Canada and Australia.
Confident to have raised at least €100,000, Bolumar admitted that the revenue would not come close to €320,000 after server costs, publicity and property transfer prices which mean the new owners do not have to pay a cent over €10.
The family plans to leave the website open to help others interested in selling their house in the same way.
- Property portal Kyero is ‘optimistic’ about the Spanish property market post Brexit vote - 14 Jul, 2016 @ 13:40
- Spain’s ‘original’ eating schedule has stabilising effect - 13 Jul, 2016 @ 13:30
- Restaurant chain La Sala introduces dining in the sky - 10 Jul, 2016 @ 09:30
- Blown away by Tarifa - 9 Jul, 2016 @ 14:06
- Axarquia town begs for residents to limit water usage while unveiling swimming pool - 9 Jul, 2016 @ 14:03
- Malaga tourism office releases positive message for British tourists and expats after Brexit vote - 9 Jul, 2016 @ 11:45
- Spanish PM Rajoy claims Malaga ‘has a bright, promising future’ - 8 Jul, 2016 @ 19:11
- Tiger kills zookeeper at Benidorm animal park - 8 Jul, 2016 @ 12:00
- Brexit means Spanish expansion for one UK firm - 8 Jul, 2016 @ 11:04
- Michael Gove’s Spanish-based brother in law is worried about his future after Brexit - 8 Jul, 2016 @ 08:25