Estonia, Real Estate
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Saturday, 16.11.2024, 19:50
Laidoneri villa's price in Tallinn goes down 2.5 times since 2006
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The villa in Tuvi street was completed in 1930. It has 600 square metres of floor space, 14 rooms and until 1940 it was the residence of general Johan Laidoner.
The building posses historical value. In Soviet times the house was used by a chair of the Estonian Art Institute.
When Estonia regained the independence, it was turned into a hotel.
In 1995 the villa was declared a national heritage site. In 1996 – 2003 it was leased to the US Embassy.
From end of 2003 the villa has been on sale with the starting price of 22 million kroons.
In 2006, during the real estate boom, the villa's owner – a company Estam wanted to sell it for 35 million kroons. When the property market sank, Estam went bankrupt. Its bankruptcy trustee wanted to sell the house for 24 million kroons in 2008, but the sale failed.
The price is now 14 million kroons.
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