Win A Mar Menor Apartment 3 - Home Winner
McKinney Competitions, a raffle style prize draw company based in Ireland, are offering the chance to win a 2 bedroom apartment in the heart of the 5 star, luxury Mar Menor golf resort or £150,000. Despite the hefty ticket prices - they're not cheap at a massive £49.99 a ticket - these raffles always seem to complete. But have we seen this property before?
Winner: Gemma Boswood
Launched: 6th January 2024 Closed: 14th January 2024
Platform: Mckinney Competitions
Location: Mar Menor, Spain,
House Value: £150000 (2 Bedrooms)
Extras: £20,000 Cash
Ticket Price: £49.97 (Free Entry Available)
Tickets Sold: 29999 Revenue: £1499050.03 (Estimated)
Cash Alternative: £150,000
Something about this particular property seemed very familiar so we looked back through the database and sure enough a Mar Menor Apartment has been offered by McKinney - not once but twice. We're assuming that it's the same one and that in the previous draw the winner chose the cash alternative. Up for grabs therefore is a two bedroom apartment in Spain. It's described as "ideal for a family, a couple, golfers and/or an investment opportunity". The property is located in Mar Menor at the Mar Menor Golf Resort. The apartment is fully furnished and ready for the winner to move in to or let out. We've set the valuation at £150,000 as this is the same as the cash alternative, but the value of properties on Mal Menor Golf do vary (Kyero.com) although the lower values seem to represent apartments that are bank repossessions whilst the top-end prices are for those that are penthouse suites.
The property being offered is of a high standard and comprises 2 bedrooms - one with twin beds and a main bedroom with ensuire. There's a modern kitchen, living room with five seater brushed leather sofa and 50in TV and a balcony that offers views of the lake and golf course. Despite McKinney giving details about the interior and locality there's quite a bit of information missing from this particular competition. We'd like to know how much potential rental the apartment could realise, how occupied the resort is (if the link above is correct there are 92 apartments for sale), is it busy all year round, and what the service and community charges will be. These small details can often help a better picture of the location and apartment The winner does also have the option of simply taking a nice £150,000 cash alternative.
How To Enter The Competition
To enter the competition for the chance to win the Spanish Apartment or cash alternative you simply need to answer a multiple choice question about the Capital of Ireland. Note that you're not told whether your answer is right or not but the question is so absurdly easy that you won't need Google to check. Once you've made your selection it's simply a case of completing the purchase of your tickets. There is a free entry route offered for entrants who wish to take that option. Entry is via postcard and details about how to complete your entry are given on the website. However just note that if you're thinking of going via NPN then you will need to be fast as these draws can sell out quickly.
McKinney Competitions aim to sell a maximum of 29999 tickets at £49.97 (total revenue just under £1.5million) by mid January 2023. Look out for the early bird discounts and other offers. The deadline combined with ticket price again may seem incredibly ambitious but this company always seem to manage to come up with enough sales. At time of writing just over 1000 tickets had been sold so there's a long way to go. Interestingly the previous draw had a lower ticket target (just 14,999) but the ticket price was the same. The discount on the website was also just 10%. Ticket sales were also a little better compared to today!
So the Mar Menor property is back as a potential property prize for a third time! And as once again McKinney are offering a cash alternative we wouldn't be surprised to see it again. The problem with overseas property is that it often comes with added issues even if you decide to sell it or rent it. Taking a £150,000 cash alternative makes life a lot lot easier for the winner. Mind you if McKinney are bringing in decent revenue for each of these draws to cover the prize and some profit then they're not going to worry what their winner chooses. The problem with offering the same prize over and over again is player fatigue. Will they feel that they've wasted enough money (especially at just under £50 a ticket) chasing this particular prize? Ticket sales look to be slow at time of writing but it should be noted they really only need to sell around 3500 and they're already a third of the way there.
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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