Central Group launched sales in the new Rezidence Kotlaska project in Prague 8

Central Group has expanded its offer of apartments with a new chamber project in Prague Libeň. Rezidence Kotlaska, which is already under construction, will offer quiet living in green surroundings right next to the B Palmovka metro station. Two highly energy-efficient buildings will house 57 luxury apartments with air conditioning and a new children's playground will be built in the area. Central Group has also started construction of the U Hostivařské přehrady project.

The largest Czech residential builder is launching the new Rezidence Kotlaska project at a time of gradually awakening demand for mortgages and a growing interest in more luxurious housing in Prague.

"The current postponed demand of Prague residents for apartments has not affected this segment of housing. In the case of more luxurious new flats, there is a larger share of people who use their own funds and do not take out loans, which are still expensive now. Fortunately, we are already seeing the first signs that the situation is starting to turn for the better and mortgages will become more affordable again," says Michaela Tomášková, Executive Director of Central Group.

According to the latest data from CBA Hypomonitor, the volume of mortgages granted in February rose by 20% compared to January and banks granted the most home loans since last August. At the same time, mortgage interest rates fell, albeit only slightly. The key to a renewed boom in new home sales will be a reduction in interest rates to the psychological threshold of 3%, which could happen at the turn of 2024 and 2025.

The Vltava River and the city centre within easy reach:
Kotlaska Residence offers sixty luxury apartments from 1 + kk to 4 + kk. It is located in a modern and rapidly developing area of Prague 8, in the wider centre of the metropolis, adjacent to the park of the same name. Within walking distance there is a variety of civic amenities including schools, kindergartens and the prestigious Gymnasium U Libeňského zámku. There are also a number of supermarkets, restaurants, cafes, as well as sports centres and other services in the vicinity.

"The project is in a very pleasant location, just a few steps from the metro and yet in a quiet part of Libeň. In addition, just a short walk away is the new DOCK Marina with a promenade and rental of pedal boats or popular paddleboards. The trail along the Vltava River or the cycle path along the Rokytka River are ideal for walking and cycling," says Tomášková.

Energy-efficient apartments with air conditioning:
Both original architecturally designed houses are very energy-efficient (class B) and save up to 50% of heating costs compared to older prefabricated houses. They have wooden Euro windows and glass balcony railings, and the project also provides for the connection of electric car charging.

The apartments are designed in a luxury standard of design, which includes air conditioning, a modern ventilation system with heat recovery for healthy and quiet living, designer bathrooms, veneered wooden or vinyl floors with heating or front window blinds. All apartments have balconies, spacious terraces, a loggia or a front garden and most of them have underground parking spaces and a cellar.

The facades of the houses are decorated with luxurious brick bands, which underline the uniqueness of this project.

Construction of the U Hostivařské přehrady project has begun:
Central Group continues to implement projects despite high construction costs, which have recently increased by tens of percent due to a large increase in the price of construction materials and works. It has currently started construction of the U Hostivařské přehrady project. The complex, which is being built within easy reach of the reservoir and a popular forest park in Prague 4, will include nearly three hundred new apartments from 1 + kk to 4 + kk, as well as a new restaurant, a kindergarten and a playground.

Prague 4 has long been one of the most attractive districts in Prague in terms of housing. "Last year, over 500 new flats were sold here, which is a share of more than 16% of total sales in Prague. After Prague 9 and 5, this is the district where the interest in new flats is the highest in the long term," Tomášková points out.

In the first stages of sales of the U Hostivařské přehrady project, people showed interest mainly in larger family flats. "It shows that people perceive the locality as an ideal place for their own living," Tomášková added.