6 Apr, 2015 @ 14:22
1 min read

Four-bedroom Valencia house sold in €10 raffle

valencia house
Image from lotocasa.es
Image from lotocasa.es
Image from lotocasa.esA foura

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.

Iona Napier

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