House raffles grew by 500% across Europe in 2020
/ Isla MacFarlane
The number of house raffles listed across Europe grew by 500% in 2020, compared to the year before, with prizes collectively worth more than €20 million, according to data collected by technology company Sesortea, a Spanish raffle platform. Sesortea also notes that more than 15 new house raffle companies launched last year, and anticipates draws totalling at least €80 million in 2021.
“We have seen an explosion of interest in house raffles across Europe and expect 2021 will be even more active, helped in part by the way Covid-19 has forced the real estate sector to accelerate adoption of digital platforms, bringing with it the emergence of alternative ways to access housing,” said Manuel Gonzalvez, CEO of Sesortea, “From our perspective, the emergence of new competitors is positive news, as it helps to establish the sector, to raise standards and to arouse the interest of real estate investors.”