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The sale of the elite residential area will start next June. The 16.1-hectare area will be cut into 87 plots, each of about 1300 to 1700 square meters.
"Our aim is to create the best living area in Tallinn," said Aivar Aigro, manager of Hestlinger. He said that people are above all looking for natural areas near the city center, sea and good neighbors when choosing their homes.
The established area lies near a new private school house, large trading center Maksimarket, a zoo, an open air museum, an amusement park and, in a year, a huge sports hall, Saku Suurhall, will be built nearby.
Aigro said that by next spring all necessary communications will be established in the Merirahu area, and it will be prepared for the construction of dwellings. He also noted that all the plots had grown trees and that the nearby coastline would be turned into a beach. Also, a yachting harbor for 30 yachts and 20 boats will be established after all the plots have been sold out.
"Unlike the rest of the seaside plots, the wind at Merirahu blows mostly from the land and thus it is not cold," said Aigro.
Although the plots at Merirahu have a view over the sea, the view will open on the Bekkeri harbor rather than the silhouette of the center of Tallinn, which the residents of Pirita, the most popular green area in Tallinn, can enjoy.
Ain Kivisaar, an analyst from the real estate company Uus Maa, said in a market survey that Pirita is like an "Estonian Hollywood." While the average new dwelling plots range from 300 ($17) to 430 kroons per square meter, the prices at Pirita sometimes reach 1,000 kroons, said Kivisaar.
Aigro said the final price of the Merirahu development depends on the supply of the plots and market prices, but it would definitely be one of the most expensive because of the good location and quality.
"Hestlinger declared that they are establishing the most expensive plots in Tallinn. The maximum price at present is 1000 kroons per square meter. I believe that their price should not reach that level," said Kivisaar.
According to Uus Maa, Maarjamae and Merivalja are the most expensive plot areas in Tallinn with a price ranging from 500 to 1000 kroons per square meter. Plots at Viimsi, Rohuneeme and Mahe cost about 150 to 500 kroons per square meter, and at Nomme, Kakumae and Paaskula the prices range from 250 to 600 kroons per square meter.
At Lillekula, a green area in the center of Tallinn, prices range from 300 to 500 kroons per square meter. At Tabasalu, six kilometers out of Tallinn, the plots cost about 100 to 200 kroons per square meter, and a kilometer closer to Tallinn, at Tiskre, the prices range from 350 to 450 kroons per square meter. Tiskre is a new dwelling area along the sea with all necessary communications that is very popular among bankers and other businessmen.