They say that buying a house can be a lottery, well that was certainly the case for a large number of Austrians who took part in the countries first ever lottery house sale.
Fed up with not being able to sell her home Traude Daniel decided on a different approach, offering 9,999 lottery style tickets at €99 each, it’s Austria’s first ever real estate sale by lottery and by all accounts it’s been a resounding success.
It seems a great solution to not being able to get market value for your home and one very lucky player in the house sale lottery got a home worth over €100,000 for just €99 so I guess he’s happy. The 400 square metre Villa in Southern Austria had become too big for the owner, who was having trouble with the sale but no more after she choose the real estate lottery option.
Real estate agents are concerned that this may become a trend and not least of course because it effectively does them out of a job.
Saying that of course €99 is a lot to pay for a lottery ticket and although the odds are much better than other lotteries, say the Euromillions, lotteries do still offer much better prizes.
Win the basic jackpot on the Euromillions Lottery, played in Austria among other countries and you could buy several houses with the €12 million, in fact you could buy one in every country the lottery operates if you so wished.
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