Luxury Villa In Portugal 2 - Cash Winner
A six bedroom luxury villa is the prize on offer for a second time around in this property prize draw. Located in The Algarve and just one hour from Faro airport it could be yours for just £1 a ticket. This overseas property raffle is being hosted once again on the FrogHopping platform.
Winner: Danielle. O
Launched: 11th January 2022 Closed: 11th August 2022
Location: The Algarve, Portugal,
House Value: £800000 (6 Bedrooms)
Ticket Price: £1.00 (Free Entry Available)
Tickets Sold: Unknown
Revenue: £523.14 prize
Cash Alternative: 80% of ticket sales
As with the home in Canterbury, FrogHopping are putting this particular property back through their raffle platform to see if it will fair any better at a lower ticket price. The first time around hardly any tickets were sold as the winner only took home £729.23. OK that's not bad for a £1 or £20 outlay but in property raffle terms that's pretty dire. Anyway here we go again - the prize is a stunning villa in The Algarve and close to the popular airport at Faro. The exact location isn't provided and that makes the valuation difficult to gauge. Six bedroom properties for sale on The Algarve vary from £650,000 to £8million according to estate agent listings. We've therefore estimated the value at £800,000 but this may be on the lower side.
About The Property
The property is described as a luxury villa with six bedrooms, four bathrooms, a heated outdoor swimming pool and terrace. The ground floor boasts an open plan main living/dining/kitchen area whilst there's more living space on the second floor. Outside are gardens, a driveaway for up to three cars plus garage space. As far as we're aware the property comes unfurnished. We understand that FrogHopping will allocate a provisional Stamp Duty Allowance of 13% of the minimum selling price plus a contribution of £1500 to the winner's conveyancing fees. Eagle eyed viewers will note we've regurgitated most of our original review - as have FrogHopping who still that "this property is available to win for just £20"!
How To Enter The Competition
To enter the competition you need to complete your details and answer a multiple choice question. Interestingly you can select all the tickboxes which is something that needs to be addressed. Furthermore you aren't told whether the answer you have selected is right or wrong. Make sure you double check your answers with Google! You're then redirected to a payment page where you can either pay by cards (on desktop) or with Paypal (via mobile). We have been concerned by the latter as a payment option for raffles/gambling but there seems to be some latitude now being allowed by Paypal for selected companies.
The owner of the property has set a minimum ticket revenue of £1.2million plus a ticket price of £1. On the surface this should mean a minimum requirement of 1.2million tickets but once fees and other costs are included then the competition could require almost 1.5million ticket sales. If insufficient tickets are sold then a cash prize alternative is paid out. This we think is around 80% of the total revenue? Interestingly a new term has been recently added - "all approved property listings receive 1% of competition revenue if the property doesn't reach its selling price". So at least the owners will receive some income if there's no house winner.
When we first listed this property we concluded that "everything is against this property raffle completing" and guess what - we're not changing our mind even though the ticket price is now a lot more attractive. At the moment we're in a slump when it comes to property raffles, overseas properties tend not to do as well and let's face it to date FrogHopping has pretty much sucked when it comes to marketing and running prize draws. They've been terrible and that they've dismissed their social media pages we're at a loss as to how they're going to push ticket sales. This particular raffle has an end date in August 2022 so our advice is hold on to your money and wait. FrogHopping need to demonstrate that they're serious about house prize draws by performing better than their poor performance of their last six listings.
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.
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