Property raffle for Fiji's Wavi Island villas
Wavi Island in Fiji, a privately-owned freehold island with 20 building blocks, is the latest development to join the exotic property raffle trend.
This tropical villa raffle is the most alluring of all giveaways with its undisclosed Australian owner intending raffling five villas.
Each are valued at US$5 million (AU$6.7 million).
The cost for a raffle ticket will US$19 AU$25 with the first winner to be drawn three days after 300,000 ticket sales, totalling US$5.7 million.
It took the Victorian based entrepreneur almost two years to secure the international licenses and gaming permits.
The winners can live in the villa full time or lease it out for holiday accommodation.
Wivi is one of 300 plus islands in Fiji, where international celebrity owners include Mel Gibson and the Austrian billionaire Dietrich Mateschitz, co-owner of the Red Bull energy drink company.
Tony Robbins, author and motivational coach owns the resort next door to Wavi Island, Namale Resort Spa; and the Jean Michael Cousteau Fiji Resort is on the other side. Then there is Hunters Hill developer Lang Walker’s resort Kokomo Island where the three bedroom villas from $4,995 per night.
Wavi Island currently has a three bedroom pavilion villa which have been for sale unsuccessfully since completed three years ago.
"Seeing the success of other property raffles, the Wavi Island owner has acquired the world-wide licenses to proceed with a raffle," spokeswomen Lynn Malone said.
The owners will be donating some raffle funds to the local community in consultation with the Tui Nasavusavu, Chief of the Savusavu region.
Last year La Casa Verde in Ecuador was put up for raffling off by expatriate Doug Greenshields, the former farmer from central Victoria and his economist wife, Rebecca.
"It’s better odds than Tattslotto,” Doug told news.com.au.
But there were not enough ticket sales so their eco-friendly guesthouse didn't find a new owner.
There was a 35,000 ticket target, but permission to sell 250,000 at US$29.
They have since advised what they'd taken from ticket proceeds would be discounted off any sale price. The standard RSL Art Union property prizes have got more luxurious over the years.
Last October there was a $4 million newly built offering at Freshwater.
The RSL Art Union's next offering with $5 tickets offers a choice of a Campbell Parade, Bondi Beach apartment or a Mahogany Drive, Byron Bay apartment.
To read more, click here.
This article first appeared in the Sunday Telegraph.