03 February 2009
Posted in
House Raffles In the Media
A recent television report on house raffles explains how homeowners in Europe are organizing property raffles in an effort to sell their home. CNN provides an insight into some of the motivations behind recent real estate raffles in Germany and Austria. With housing market conditions in Europe remaining poor, it seems that an increasing number of property owners are running their own win a house competitions or raffles.
One homeowner in Germany is organizing a quiz on his house raffle website, in the hope of selling up to 48,000 tickets at 19 Euros each (around $24). Once all tickets are sold, one hundred finalists will be picked and entered into a raffle to determine the property winner. The owner is hoping to give away his home, a three bedroom, two bathroom property close to Munich, valued at around $400,000. This comes after failing to sell the property in the normal way. However, there remain questions as to whether his competition is legal in Germany.
The report also focuses on a recently-completed house raffle in Austria. Traude Daniel, the owner of the property, managed to raise 600,000 Euros (over $750,000) by organizing a property raffle selling tickets at 99 Euros ($120) apiece.
Click to view the full CNN report on house raffles in Europe on AOL.com.
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