Centrale - Luštica Bay, Three Bedroom Apartment for Sale
€1,206,000
Maša Flynn
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In Brief
Apartment 1A1-31 is a third-floor three-bedroom apartment with two bathrooms and a separate guest WC, in Residence 1A-1 on Piazza Centrale, the main square of Luštica Bay's town centre. It has 124.53 m² of internal space and 17.32 m² of terraces, for a total sellable area of 141.85 m². The price is €1,206,000 including VAT. It is currently the only three-bedroom apartment available in Centrale, and unlike the other apartments on sale in the neighbourhood it is listed as available rather than under construction.
Description
Centrale is the town centre of Luštica Bay and the neighbourhood that links all the others. It is built around a piazza with cafés, a pub, a beauty bar, shops and the recently opened Hotel Centrale, and it carries the everyday services the rest of the resort relies on: a medical and dental centre, a fire station, a bank and dedicated parking. Tennis, padel, basketball and beach volleyball courts sit alongside a landscaped park with a playground and outdoor gym. An international school and a police station are planned.
Residence 1A-1 stands on the western side of Piazza Centrale, next to Pine Alley Park. It is one of the neighbourhood's landmark buildings, with a stone arcade of three arches at street level, a stone tower on the corner and rendered upper floors in warm terracotta and plaster tones with dark shutters. The ground floor opens onto the piazza with cafés and shops under the arcade. Apartment 1A1-31 is on the third floor and looks out over the square.
The front door opens into an entrance hall with a built-in cupboard and the family bathroom, which has a walk-in shower, WC, basin and space for the washing machine. From here a central hall leads to the rest of the apartment, with a separate guest WC and built-in wardrobes along the way.
The bedrooms are grouped on one side of the hall. Two double bedrooms each have glass doors to the outside, one of them opening onto its own terrace, and the second has a full wall of built-in wardrobes. The master bedroom has its own en suite bathroom with a walk-in shower, a built-in wardrobe and double glass doors onto a private terrace.
The kitchen is a separate room off the hall, with a full run of units including a hob, sink, dishwasher and fridge, a central island with seating for three, and glass doors to the outside. Across the hall, the living and dining room is the largest space in the apartment, with a dining table for eight, two sofas and a media wall. Two sets of glass doors open onto the main terrace, which runs along the length of the living room.
All fitted furniture is included, along with a fully equipped kitchen and internal storage, so the apartment is ready to use or rent from handover.
Property Features
- Three-bedroom apartment, third floor, Residence 1A-1, Piazza Centrale
- 124.53 m² internal area, 17.32 m² terraces, 141.85 m² total sellable area
- Views over Piazza Centrale
- Three terraces, off the living room, master bedroom and second bedroom
- Master bedroom with en suite bathroom, built-in wardrobe and private terrace
- Two further double bedrooms with built-in wardrobes
- Family bathroom with walk-in shower and space for washing machine
- Separate guest WC
- Separate kitchen with island seating for three
- Living and dining room with a dining table for eight
- Entrance hall with built-in storage
- All fitted furniture included
- Fully equipped kitchen
- 24/7 customer service and security
Centrale Homeowner Benefits
- Access to Luštica Bay beach, with priority reservations at other beaches within the resort
- Shuttle service to Marina Village
- 24/7 customer service and security
- Access to the rental pool managed by Luštica Bay's Property Rental Service
- Discounted rates at The Chedi Luštica Bay
- Access to invitation-only events
- Year-round property management, maintenance and landscaping at a preferential charge
Luštica Bay Lifestyle and Amenities
Luštica Bay is a planned coastal town on the Luštica peninsula, developed by Orascom Development. At around €1.5 billion it is one of the largest investment projects in South-Eastern Europe and the first and largest greenfield development in Montenegro. The site covers 690 hectares, of which neighbourhoods will occupy only 10%, with the rest kept as green space and native planting.
Today the resort is around ten percent through its development plan. Already in place are more than 450 apartments, villas and townhouses, the Luštica Bay Marina with 115 berths, two hotels including The Chedi Luštica Bay, five beaches and three sea lounges, and the 1.8 km Lungo Mare coastal path from The Chedi Beach to Almara Beach Club. The golf course has three playable holes, a driving range and The ClubHouse, and there are two kids' clubs, an ambulance, dental surgery and fire department.
On completion, Luštica Bay is planned to have more than 3,000 apartments, over 300 sea-view villas, seven hotels and more than 6,000 residents. Plans include the Gary Player Signature 18-hole golf course, a second marina with a fuel station and Port of Entry bringing total capacity to 220 berths, a 4.9 km Lungo Mare along the whole coastline, a school, spa and wellness facilities, a sports village with swimming pool, and a commercial centre.
New-build purchases in Luštica Bay carry no transfer tax (VAT is included in the price), payment plans run interest-free for up to five years, and properties can join the resort rental programme from handover.
Location and Distances
Distances and times are calculated from the residence by the route network (walking and driving), not as the crow flies. Driving times are for normal traffic and will be longer in peak summer.
On Foot
- Piazza Centrale and Hotel Centrale – on the doorstep
- Medical centre – ~650 m, ~9 minutes
- Voli supermarket – ~700 m, ~9 minutes
- Almara Beach – ~2 km, ~27 minutes
By Car
- Marina Village and The Chedi Luštica Bay – ~1.5 km, ~5 minutes
- Almara Beach Club – ~2.1 km, ~5 minutes
- Kotor Old Town – ~12 km, ~20 minutes
- Tivat and Porto Montenegro – ~15 km, ~22 minutes
- Budva – ~25 km, ~35 minutes
Airports
- Tivat Airport – ~11 km, ~15 minutes
- Dubrovnik Airport – ~63 km, ~1 hour 30 minutes, via the Kamenari–Lepetane ferry, plus border crossing
- Podgorica Airport – ~87 km, ~1 hour 55 minutes
Buyer's Lens
1A1-31 is a family home in the middle of town. Three double bedrooms, two bathrooms and a guest WC give a family or two couples room to spread out, and the master suite with its own terrace gives the owners a private corner of the apartment. A separate kitchen with an island, a dining table for eight and a living room that opens onto the main terrace make it an apartment built for long lunches and evenings with guests.
Living on the piazza means the town centre is downstairs: coffee and the morning paper under the arcade, the park and playground next door, tennis and padel a few minutes away, and the marina and The Chedi a five-minute drive or a short shuttle ride away. The rental programme and year-round property management look after the apartment between visits, making it a holiday base that needs no thought between stays.
As an investment, a three-bedroom apartment on the main square serves the part of the rental market that smaller apartments cannot: larger families and groups who want to be in the centre of things. The interest-free payment plan means €180,900 is due on signing, with the balance spread over three years.
Agent's Honest View
The piazza is the heart of Centrale, and that cuts both ways. The view is of the square rather than the sea, and living above the cafés means activity and sound in the evenings, particularly in summer and during events. Buyers who want a quiet retreat may prefer one of the residential neighbourhoods further from the centre.
The kitchen is a separate room rather than part of an open-plan space, which suits some buyers and not others; it does mean cooking stays out of the living room. Pricing works out at around €8,500 per m² of sellable area, in line with the rest of Centrale, and as the only three-bedroom currently available there is no direct alternative in the neighbourhood to compare it with.
Payment Terms
1A1-31 is listed as available. A reservation deposit of €2,000 to €5,000 secures the apartment, depending on unit size. Payment terms are interest-free: 15% on signing the Sales and Purchase Agreement (€180,900), followed by 85% in 12 equal quarterly instalments over three years (approximately €85,425 each).
NT Realty is a boutique real estate agency based in Tivat, Montenegro. Founded by Peter Flynn, who first came to the Bay of Kotor in 2005 as a property investor and has since built businesses across real estate development, architecture, and interior design, the agency is run alongside Maša Flynn — architect and former Head of Design at Porto Montenegro, where she delivered over €60 million of projects on time and on budget. Between them they bring a depth of local market knowledge that is difficult to find elsewhere in the region.
The team specialises in properties for sale and long-term rentals across the Bay of Kotor, Tivat Bay, and the Luštica Peninsula — from Porto Montenegro and Luštica Bay to private homes throughout the wider region. Our job is to guide buyers, sellers, and tenants through the process clearly, honestly, and without unnecessary complexity.
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Frequently Asked Questions
After purchase and registration, you'll receive keys and take possession. Next steps include transferring utilities to your name, setting up building management payments if it's an apartment, getting home insurance, and—if you're renting it out—registering for tourist tax and obtaining any required permits. Your lawyer or agent can guide you through the administrative bits.
Rental income is taxed at 15% on gross receipts if you're renting short-term (tourist rentals), or you can opt for taxation on net income after expenses for long-term rentals. You'll also pay municipal tourist tax (€1 per night per guest in high season, €0.50 in low season) and need to register your rental with the tax authorities and tourism directorate.
Annual property tax is quite low—just 0.25% of the property's assessed value per year. The assessed value is typically well below market value, so you might pay €200-500 annually on a coastal apartment worth €200,000. It's collected by your local municipality and is one of Montenegro's more affordable ongoing costs.
Notary fees are set by official tariff and scale with your purchase price. For most residential properties, expect €350-€1,000 plus 21% VAT—so roughly €423-€1,210 total. A €250,000 property runs about €532 in base fees. There are also small charges for document copies and administrative filing, so your final notary bill might be slightly higher.
For resale properties, you'll pay 3% Real Estate Transfer Tax (RETT) on the purchase price. New builds from developers are zero-rated for RETT but include 21% VAT in the price—though developers can usually reclaim this VAT. Either way, budget around 3% of the purchase price for transfer taxes unless it's a new build where VAT is already included.
The notary doesn't receive or hold the money directly. Instead, the seller must confirm in writing to the notary that they've received the full purchase price. Only after the notary receives this written confirmation (and verifies tax obligations are met) will they issue the Clausula Intabulandi. Some transactions use bank confirmations for added security.
Yes, if you're married or in a registered partnership, you typically need your spouse's or partner's written consent to sell property in Montenegro, even if the property is registered solely in your name. This protects both parties' interests under matrimonial property rules. Your notary will confirm the specific requirements for your situation.
The Clausula Intabulandi is the notary's official confirmation that all legal and financial obligations have been met, allowing the property to be registered in your name. The notary issues it only after verifying you've paid the full price and all taxes. It's your green light for cadastre registration—without it, you can't become the legal owner.
Every property and owner has specific numbers that appear on contracts: your JMBG (personal ID), the seller's JMBG or company registration, and the property's cadastral parcel number (katastarska parcela/čestica). These link everything in the official registries and are essential for registration and tax purposes.
No, Montenegro doesn't have a title insurance system like the US or UK. Instead, buyers rely on comprehensive legal due diligence—your lawyer or notary checks the cadastre, ownership history, encumbrances, and permits before you commit. It's a different system, but with proper checks it's just as secure.
It depends on where your documents were issued. If you're from a Hague Convention country (which includes most Western countries), you need an apostille. If not, your documents need consular legalisation. Either way, they'll also need certified translation by a sworn court translator in Montenegro.
Your lawyer requests an official extract (List nepokretnosti) from the Real Estate Cadastre, which shows current ownership, any mortgages or liens, property boundaries, and legal description. The notary also verifies the seller's identity and legal capacity. This due diligence typically takes a few days and costs around €18-25 for the cadastre extract.
You obtain a JMBG through the local Police Directorate (MUP) by presenting your passport, proof of property ownership, and completing a simple application. The process typically takes a few days, and you'll need this number for tax declarations and property registration—even without residency.
For a straightforward resale apartment with clean paperwork, the buying process can often be completed within 3-6 weeks. More complex transactions, new builds, or mortgage-financed purchases can take longer.
Some banks do lend to foreigners, but conditions are tighter—lower loan-to-value ratios and stricter income requirements. Many foreign buyers finance through their home country or pay cash.
Officially, everything is in euros. You can convert from your home currency before sending, or in some cases settle using cryptocurrency if both parties and the notary agree—but the contract price and taxes are always euro-based.
Beyond the purchase price and transfer tax, budget for notary fees, translation, legal fees, and potentially agency commission—together, these typically add 2-4% to your total cost.
No. Most foreign buyers use a Power of Attorney to authorize someone here—your lawyer, NT Realty, or another trusted representative—to sign on your behalf.
By convention, the buyer usually pays both the notary fees and the sworn court translator fees, though this can be negotiated between parties.
Yes, and it's more straightforward than most people expect. Montenegro welcomes foreign buyers—both EU and non-EU—and you can own property in your own name without needing residency or a local company in most cases.
Disclaimer: Purchase Costs & Information Accuracy
All costs associated with the purchase, including notary fees, real estate transfer tax (if applicable), and any legal fees, are the sole responsibility of the buyer. ntRealty bears no responsibility for the correctness of the information published here, which is based exclusively upon details provided to us by the property owner(s). ntRealty has no obligation to update, modify, or amend this listing or to notify a reader if any information, including urbanistic or cadastral data, subsequently becomes inaccurate. All listings are subject to prior sale. Agency Commission: No agency commission is charged to the buyer. The agency fee is paid by the seller.
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