Montenegro’s Lustica Bay: A Luxury Property Investment In Nature

For privacy, luxury and a deep connection to nature – Montenegro offers an elevated Mediterranean lifestyle not to mention attractive property investment opportunities. Abode2 pays a visit to its star attraction – Lustica Bay.

The bijou nation of Montenegro is on everyone's radar at present and for good reason. More than 2 million holidaymakers paid a visit last year, keen to soak up the historic sites, dramatic hinterland, and crystal-clear azure waters. An outdoor lover’s paradise that offers more than just scenic beaches with skiing in Kolašin and Žabljak and endless miles of hiking at its national parks, including Lovćen, Durmitor, and Prokletije, the country is not surprisingly billed as the gem of the Adriatic.

Yet despite its burgeoning appeal, the country continues to lead by ‘quiet luxury’ example, espousing a Venetian vacation meets French Riviera chic vibe. For those seeking a slice of Adriatic luxury, Montenegro has also set the bar high when it comes to its residential tourism offering, delivering a heady mix of high-end real estate that rivals Monaco, complete with stunning views and world-class amenities. Add to this excellent road and transport infrastructure and great flight connectivity and it’s clear to see why the country is fast becoming a year-round destination, enhancing its appeal for those seeking a vibrant and glamorous place to live.

Since becoming an independent state in 2006, the country has showcased the quickest-growing tourism economy up to 2019, with visitor numbers growing from 953,000 to 2.6 million in 2024. But the beauty of the Adriatic coast, five-star hotels, luxury shopping experiences and fine-dining restaurants are only part of the equation sustaining healthy repeat tourism.

Cue Boka Bay, Montenegro’s broodingly beautiful inlet from the Adriatic Sea. The waterfront is lined with elegant yachts, speedboats and cruise ships, eager to visit the town of Kotor, a UNESCO World Heritage site. But the bay holds another reason for the region’s growing international reputation — the stunning marina development of Lustica Bay.

Located 20 minutes from Tivat airport - and just shy of three hours from London, it's easy to see why the resort is fast becoming a popular second-home haven. Fronting both the Adriatic Sea and Boka Bay, and developed by world-leading brand Orascom Development, it’s a remarkable real estate project in a premium location. Covering an area of 7 million square metres, of which only 10% will be developed, the project offers the perfect balance between luxurious living and untouched nature.

To date, around 750 residential units have been delivered, and 400 million euros out of the planned 1.5 billion euros have been invested – the largest amount ever invested in the region.

Fast forward to next year, and the community will boast Montenegro’s first 18-hole golf course, designed by Gary Player with a further 20-year roll out and to embrace 6,000 residents, in 3,000 apartments, 300 villas and 7 hotels.

The architecture reflects traditional Mediterranean design, combined with modern elements and luxurious details. Villas, apartments, and penthouses feature elegant lines, spacious terraces, and quality finishes. Every detail has been meticulously planned to create a harmonious and aesthetically pleasing living environment. In a nod to the traditional Montenegrin architectural vernacular, property designs feature local stone with earthy colour palettes and rustic accents.

As to the community bedrock for residents, Natasa Tomic Lustica Bay’s Residential Marketing Manager explains: “We have a vibrant and diverse community here, with people from over 40 different countries enjoying a variety of shared activities and pastimes. Events, art and cultural programmes, foster togetherness and create a strong, supportive neighbourhood, thanks to a sophisticated infrastructure and elite facilities – for entertainment, shopping, dining, leisure and sport. Homeowners can literally do as much or as little as they want.”

PROPERTY PORTFOLIO

MARINA VILLAGE

Anchored by the five-star Chedi Lustica Bay and sporting a 115-berth marina, Marina Village epitomises elegant coastal living. Property design and build reflects the rich culture and heritage of Montenegro, with terracotta tiled roofs, reminiscent of a traditional Montenegrin fishing village.

Four property types are available – waterfront marina apartments, townhouses, villas and The Chedi Residence. These are all served by spectacular views and direct access to the promenade, private beach and the marina.

The final residential offerings of this neighbourhood are Jasmin and Visterija Residences. Nestled between the mountains and the sea, each apartment within these refined collections boasts spacious terraces, ensuring that every bedroom captures the captivating sea vista. Conveniently located, pristine beaches and vibrant waterfront restaurants are just a short walk away, as is the town centre. Prices range from €324,000 up to €1,293,000

CENTRALE

Laced with dynamic streets and a bustling Piazza, Centrale is crafted to serve as a harmonious fusion of spirited energy and residential tranquillity throughout the year. Already boasting a vibrant atmosphere where living, working, and leisure coincide, Centrale offers sports facilities, exquisite architecture, and verdant open spaces. This lively district, soon to be enhanced with crucial services like including a hospital, school, police and fire departments, and a plethora of bars and restaurants, will flawlessly link all Luštica Bay Centrale districts.

Centrale showcases two distinct property types – Centrale and Piazza Apartments. With a range of design alternatives specifically devised for the apartments in the community, you can add a touch of personalisation to your home, making it a perfect haven for the entire family.

Newly released is Heights, a peaceful corner just above Centrale, showcasing a limited collection of apartments and penthouses thoughtfully designed and beautifully elevated. Prices start from €390,000.

THE PEAKS

Montenegro’s premier golf residences, with breathtaking Adriatic and Boka Bay views, this stylish neighbourhood features exquisitely designed villas, townhouses with pools, and diverse apartments, all promising unparalleled scenic and design excellence. Carefully carved into the rugged topography of the hill, with minimal environmental impact, golfers and residents will soon be able to take advantage of the stunning new 18-hole signature championship golf course designed by world-renowned Gary Player. With breathtaking sea views from every single hole, the course will gracefully sweep through The Peaks, spanning 86 hectares of luscious Adriatic landscape. Or, as Gary Player himself put it: “If I had to have a house on any golf course in the world, or a villa, this would be my place.”

Emphasising sustainable construction and natural materials, The Peaks harmonises secluded luxury with outdoor living spaces, including pools, terraces, and gardens. This esteemed neighbourhood assures privacy while providing convenient access to amenities, defining a superior lifestyle.

Residences in Botanika, a premium neighbourhood in The Peaks, are designed for contemporary living. Four-bedroom villas, elegant townhouses and apartments are designed by internationally acclaimed architects Block 722 and local firm NRA Atelier to complement the landscape. Standard-setting features include open-concept configurations that invite the outdoors in, with private pools and landscaped terraces. Prices start from €1m to POA.

HORIZON

An exclusive and intimate neighbourhood offering a captivating blend of privacy, community, and tranquillity. Perched high on the hillside overlooking the dazzling Adriatic Sea, Horizon’s Mediterranean-inspired elevated residences are designed to optimise indoor-outdoor living. Featuring expansive terraces, lush gardens, and infinity pools, each home maximises elegance and comfort, with awe-inspiring views of the marina and sea. Every space is bright and light with open-plan living spaces, expansive glass openings that frame the Adriatic blues and earthy-hued interiors.

The neighbourhood harmonises premium amenities with traditional charm, providing residents with access to exclusive homeowner benefits, including sports courts, private beaches, high-end dining options, and much more.

Homes range from studio one- and two-bedroom apartments to penthouses with cascading infinity pools and gardens planted with lime trees and lavender. Residents can also revel in access to exclusive Horizon Clubhouse amenities; the Skybar for sunset drinks, restaurant, fitness centre and cinema. Prices start €450,000 to €1,452,000.

Montenegro Fast Facts

- The country boasts five national parks covering 8% of its territory and four World Heritage Sites including Durmitor National Park and Cultural-Historical Region of Kotor
- Under strict Montenegrin planning regulations, new homes must respect local architectural heritage and the natural beauty of the landscape
- Montenegro ended its Citizenship by Investment programme in December 2022. Property owners can apply for a one-year residence permit and, after five years, permanent residency
- Income tax and corporate tax are capped at 15% regardless of income
- Real Estate Transfer Tax for resale properties, is on a sliding scale of 3% to 6%
- There is a 0.25% to 1% per annual property tax of estimated market value by the local council

Visit www.lusticabay.com