4 Bed Villa In Estepona Review
A beautiful 4-bedroom villa in Estepona on the Costa Del Sol is the prize available in this competition and it could be yours for just £2.50. This is the fourth competition to run on the new Prize Villas platform - a service specifically for holiday property or vacation prizes.
Launched: 10th February 2021 Closes: 10th August 2021
Platform: Prize Villas
Location: Estepona, Costa Del Sol, Spain,
House Value: £350000 (4 Bedrooms)
Ticket Price: £2.58 (Free Entry Available)
Minimum Ticket Target: 320000
Tickets Sold: Unknown
Cash Alternative: 70% of ticket sales
Despite a difficult first competition which attracted just 19820 ticket sales for a property requiring 260000, Prize Villas are trying again this time with a villa in Estepona. The actual location isn't given but from what we can gather it is part of a complex possibly with a golf course. The complex compises 92 properties, includes two swimming pools of which one has salt water and there's also a 24 hour concierge service. Service and community charges for these facilities are not mentioned in the details nor is a valuation of the home on offer.
How To Enter The Competition
The semi-detached villa is located just 40 minutes from Malaga airport and a 30-minute drive from Gibraltar. It has four bedrooms and is described as typically Andalusian in style. We're not sure if the villa comes fully furnished although it does say that "interior décor and furnishings are of Italian design" so we're assuming they are. If so then this property is ready for rental or use as a holiday home. All of the various duties, taxes, legal and notary costs are covered by the owners and the sales process will be handled by C.I Property Group - an agent that's been appointed to oversee things.
To enter the raffle you need to be registered with Prize Villas. This can only be done with an email login. Once at your chosen house raffle page it's a case of answering a question and purchasing tickets. The questions are easy but do make sure you get the right answer as you'll still pay regardless of whether you're right or wrong. Tickets cost £2.50 each plus a 3% surcharge for costs - as far as we know there's no limit to the number you can purchase and you can purchase online using debit cards. All Prize Villas competitions must make a charitable donation and the minimum is 1%.
320,000 Ticket Sales
Angelo Madronal Folpini hopes to sell 320,000 tickets (total revenue £800,000) to conclude the draw. If insufficient tickets are sold then the winners will receive a share of the compensation amounting to 70% of all ticket sales. All compensation payments are guaranteed and paid directly by Prize Villas. Note that like Raffall, if all the tickets are not sold then the promoter/owner of the competition receives no money at all from the site.
Prize Villas first competition for a similar property, but in Tenerife, attracted just 19820 ticket sales (just under £50,000 revenue) and that included a closing date extension. To be fair that's better than some property competitions held on Raffall but it's still going to be an uphill battle for the owner to get this one over the line. Prize Villas seems to be a good platform for managing competitions but the owners/promoters perhaps need to learn from successful UK raffles in order to get better reach, more interest and ultimately more sales.
Disclaimer: Details shown above were correct at time of writing and are provided for information purposes only. Images are used under fair use policy. Map location is approximated by Google based on postcode/location info. Any links provided are not an endorsement from Loquax. In some cases Loquax may earn a referral fee from sales this does not effect our review. We strongly advise all visitors do due diligence on each contest before deciding to enter. Terms and conditions apply. Begambleaware.org.
Footnote: Spanish properties attract a hefty tax on purchase. This can be up to 19% of the property value although this may be covered by the promoter so do check the terms. Note also that since Brexit UK citizens can only spend 90 days out of every 180 in the EU. If you win and rent out the property then you will also have to pay tax.
4 Bed Villa In Estepona Discussion
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