Member of the Russian Federation Council Sergei Mamedov owns an apartment in Tallinn OId Town which costs approximately 444,500 euros, reported media.
Mamedov wrote in the obligatory statement of economic interests that he owns an apartment of 88.9 square meters in the so-called historic Jegorow apartment building on Tallinn's Town Hall Square.
While Mamedov’s apartment costs 5,000 euros per square metre, the average price per square meter of apartments in Tallinn is 1,292 euros.
The Jegorow building was acquired and renovated in around 2002 by Pro Kapital, the real estate company owned by Italian financier and property developer Ernesto Preatoni. At that time, Pro Kapital was selling apartments in the building for around 2,500 euros per square metre. Most of the apartments were snatched up by foreigners, many of them using it as an investment. It is one of the most exclusive buildings in the Tallinn Old Town which has about 60 luxury apartments.