No upper limit

New apartment for no less than half a million euros

This is what the new lakeside district in Gmunden, including the hotel and apartment blocks, should look like.(Bild: project A01 architects)

A new district is to be built on the banks of Lake Traunsee in Gmunden by the end of 2026. The exclusive location is driving prices up considerably. The Soravia Group has to invest 170 million euros to build the Seequartier. Even a mini apartment with 43 square meters costs around 500,000 euros.

Detractors in Gmunden have already renamed the planned lakeside district the "standing quarter", as the start of construction has been repeatedly delayed and it looks as if planning is at a standstill.

But this is not the case. The Soravia Group is working flat out on the development of the site on the banks of Lake Traunsee, which has been derelict for many years, and is planning to invest 170 million euros. "I'm hoping for construction to start in the fourth quarter of this year and a positive building permit in late summer," says project manager Sandra Derradji-Eder, eagerly awaiting the green light from the authorities.

Within two years, a hotel with 132 rooms and seven wings with 84 condominiums ranging in size from 43 to 220 square meters as well as an underground garage with 300 parking spaces are to be built on 21,300 square meters.

Boat garage plans scuttled for the time being 
The fantastic location directly on the lake comes at a price: The cheapest price per square meter for an apartment in a peripheral location is 11,500 euros. This means that even the smallest apartment with 43 square meters will not be available for less than half a million euros. There seems to be virtually no upper limit, especially for premium apartments. "The price gap could become even wider if boat garages are also built. But as a city, they are not an issue for us," says FP city councillor Rüdiger Fritz.

We count 95,000 overnight stays per year. The new hotel opens up completely new possibilities. The streetcar station directly in front of the hotel is a big plus.

Stefan Krapf, ÖVP-Bürgermeister

However, Derradji-Eder is still hoping for a change of heart in city politics: "We haven't written off the garage yet and are still trying to implement it. The plan is for 20 parking spaces for boats that have to have an electric motor. It would be a nice addition. If the boat garage is not approved after all, it would have no further impact." The parking spaces for the boats also annoyed the people of Gmund because, as reported, they were subsequently requested by Soravia.