Developers in Holešovice by the Vltava will build 341 luxury apartments

source: lighthouse-prague.cz

Prague - Developers Lighthouse Group and Daramis Group will jointly build 341 luxury apartments in Holešovice by the Vltava River. They plan to complete the first phase in the first quarter of 2017. This was announced today by the companies, which did not disclose the investment costs for the construction.
    Construction work on the Marina Island project commenced last week, and in the first phase, they aim to build two apartment buildings with 73 and 65 apartments, respectively. The developers are primarily targeting wealthier clients, currently offering apartments to their previous customers. They officially plan to release them to the market in April next year, when the prices at which the apartments will be sold should also be known.
    The apartment buildings will rise on a plot of 30,000 square meters, bordered by the Vltava River on two sides. According to the developers, this should be the main attraction of the project.
    Interest in new apartments in Prague is growing. So far this year, 4,250 new apartments have been sold, which is an increase of 22.7 percent year-on-year. With growing demand, the supply is also expanding; at the end of the third quarter, 7,000 new apartments were available. Half of these fell into the price segment of 45,000 to 60,000 crowns per square meter. Developers are also beginning to offer and build more expensive apartments.