Win A Luxury Apartment In Lanzarote - Cash Winner
A one bedroom apartment in Costa Tequise on Lanzarote could be yours if you win this prize draw. Hosted on Raffall it's brought to you by Prize Homes Ireland who have previously run a successful giveaway. Tickets cost £12.50 each.
Winner: Dan Williams
Launched: 4th October 2021 Closed: 1st January 2022
Location: Lanzarote, Spain,
House Value: £96000 (1 Bedrooms)
Ticket Price: £12.50 (Free Entry - See 5.6 in Terms)
Tickets Sold: 993 Revenue: £12412.5 (Estimated)
Cash Alternative: 75% of ticket sales
At the end of December 2020 Rose Jones successfully completed the prize drew for Prize Home Waterford. She's now hoping to repeat the success with an overseas apartment. She's teamed up with a property partner in Lanzarote to offer entrants the chance to win a one bedroom apartment in Costa Tequise, a resort on the east coast of the Spanish island. What looks to be a similar property is for sale on Sue Cox Inmobiliaria. The property on that site shows a value of "from 114,000 Euros" which equates to around £96,000. From the same website the apartment is located in a recently renovated complex.
About The Property
The apartment has one bedroom and is described as having it's own "private balcony in the with a stunning pool view". The apartment can sleep up to 4 people comfortably as there is a full double bed settee - note that it also comes fully furnished. Some entrants may want the apartment as a holiday home whilst others may look to the rental market. According to the hosts the rental in the complex is approx €70 to €85 per night. Details of rates and community charges are not provided. All fees and taxes are paid, but no information around the sale process is given. For example will the winners need to fly out to Lanzarote to complete the sale and will they require NIE registration in Spain. Will the hosts be able to assist with this process? As well as the property, the hosts are also offering two holiday prizes and a cash prize.
How To Enter The Competition
To enter the prize draw you need to be registered with Raffall. This can be done via Facebook or with an email login. Once at the house raffle page it's a case of answering a question and purchasing tickets. Click on the green enter now button to activate the entry page. In this case you need to answer a multiple choice question. Tickets cost £12.50 and there's no limit to the number you can purchase. You can purchase online using debit cards. No donations are being made to charity via Raffall but the hosts have stated that they will be making donations to the Lanzarote Dogs Trust and the Lanzarote Cats Trust Charities. Remember these donations are only made if the house is won.
35,000 Ticket Sales
The host aims to sell 35,000 tickets (total revenue £437,500) by the start of 2022 in order to conclude the draw. It may be the case that if enough tickets are sold but the target isn't reached then the property can still be awarded. If insufficient tickets are sold then the winners will receive a share of the compensation amounting to 75% of all ticket sales. All compensation payments are guaranteed and paid directly by Raffall Limited. Note that if 100% of the tickets are not sold then the promoter receives nothing. Interestingly Raffall have also allowed affiliate/referral links for this particular competition. We've not seen that before.
A one bedroom apartment in Lanzarote with rental potential sounds great but can Rosie Jones repeat her win a house success again? It's going to be difficult because overseas property on Raffall don't always attract the required number of entrants. The ticket price is a tad expensive in our view. Plus we think that the value of the property doesn't require such a huge ticket revenue target although it does give plenty of wiggle room to award the prize if 35,000 isn't reach. Another point to note is that as two holiday prizes and a cash prize are included in this draw if the raffle ends with cash prize then that will be split four ways. We'd also like to see more information provided with respect to the sale process.
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.
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