In the Krkonoš Mountains, 21 luxury villas by DRNH will be built

Prague/Mladé Buky - In the Krkonoš Mountains, 21 luxury villas will be built in Mladé Buky. The residential project Hrádeček, which was presented today in Prague by its investor Jiří Grund, will cost 220 million crowns. The interest in housing in the mountains among Czechs has been declining in the long term.
    According to Marek Sklenář, the executive director of ERA Reality ČR, interest in properties in the Czech mountains was strongest between 2006 and 2008. "At the end of 2008, interest cooled down and prices stagnated. From 2009 onwards, the trend reversed, supply greatly exceeded demand, and prices fell sharply. Many developer properties in mountain resorts were sold only during major discount events," Sklenář points out.
    He states that the market is currently price-stabilized, but the demand for mountain housing remains very low. "Individually, even during this period, successful projects with good sales can be noted, but this is not a mass trend," Sklenář noted.
    Entrepreneur Grund still believes he will find buyers for the luxury villas. "The target group consists of people who repeatedly come to our hotel nearby. It's a group of people who like this place," remarked Grund, who claims that three interested parties have already expressed interest in the larger planned villas.
    Nevertheless, Grund has insured himself against failure. He will not pay for the construction out of his own pocket; he has preliminarily agreed with Česká spořitelna on financing. Part of the payments will come from deposits from future owners. "It will also depend on pre-sales. We will start building only when we have sold," declared Grund, adding that smaller villas with an area of around one hundred square meters will be sold for approximately 8.5 million crowns.
    The first phase of construction, in which the first seven villas will be built, is scheduled to begin in April next year. Completion is planned for the end of December of the same year. Grund aims to have the entire project completed within five years.
    Next to the existing golf course and hotel Grund Resort Golf&Ski, 15 villas with a built area of one hundred square meters and six villas twice that size will be constructed. The price of the larger villas is expected to range between 16 and 20 million crowns. The low-energy houses with a green roof will include a terrace and, for an additional fee, a garage. The project was designed by the architectural office Atelier DRNH. The project has a valid zoning decision, and the investor intends to apply for a building permit in the near future.