THERE is just one week left to snap up a €5 chance to win a home in the popular coastal resort of Vera Playa on Spain’s Costa Almeria.
The winning ticket will snag a two-bedroom, two-bathroom home that is just two minutes from the beach and boasts a sea view.
The property has two terraces and is located within a complex that has access to a shared pool and has a market value of €125,000.
The concept of property lotteries has already become well established elsewhere but is still relatively new in Spain although a legal framework is in place to regulate the process.
The unorthodox method allows homeowners to sell raffle tickets with the only prize being the property and can net owners far in excess of the market value of the property, if enough tickets are sold.
The attraction lies in the fact that the odds of winning with a €5 ticket far exceed that of a normal lottery.
The beach side property in Vera is the first raffle being operated by Spanish portal Sesortea, a venture put together by Madrid entrepreneurs Manuel Gonzalvez and Pablo Carballo.
A maximum of 125,800 €5 tickets are available and as well as giving away the house, Sesortea will also cover €5,000 of legal fees and Stamp Duty, and contribute up to €20,000 towards any increase in income tax faced by the winner as a result of winning the house.
Sesortea claims that someone who buys a ticket will definitely win the property on March 25, with no postponements, no additional tickets issued and no cash alternatives offered.
Gonzalvez explained: “In Spain the law is very strict when it comes to house raffles, which means participants know what they are getting, and the raffle organiser can’t change the rules half-way through.”
For details on the raffle and to enter the draw visit Sesortea HERE
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