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The Peaks - Golf Residences Botanika Villa in Lustica Bay for Sale
€3,442,000
Peter Flynn
Features
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In Brief
A three-bedroom villa with three bathrooms and a separate toilet, offering 338.47 m² of sellable area on a 1,175 m² plot in Botanika, The Peaks, Luštica Bay. The house has 199.04 m² of internal space, 39.23 m² of terraces and a 30.34 m² double garage. It overlooks golf holes 3 and 4 and the Adriatic. Open-plan living, dining and kitchen area with a fireplace, a ground-floor master suite, two further bedrooms upstairs, and a home office. Outside there is a 37 m² private pool and a stone terrace with an outdoor kitchen, al fresco dining area and outdoor shower. Sold off plan, with completion planned for December 2027. Price €3,442,000.
Description
Botanika is the premier residential edition of The Peaks, Luštica Bay's most exclusive neighbourhood to date. It is carved into the hillside beside Montenegro's first 18-hole golf course, designed by Gary Player. This Villa sits on a generous 1,175 m² plot with a prime outlook over golf holes 3 and 4 and out to the open Adriatic. Stone and wood define the architecture, and the gardens and paved areas are laid out around the pool.
The ground floor (123.90 m² internal, plus a 26.76 m² terrace) is built around the open-plan living and dining area. It has a fireplace and opens onto the pool terrace, and the fitted kitchen (Nolte or similar international brand, Miele appliances) sits alongside. The master bedroom is on this level with its own en-suite bathroom, wardrobe and direct terrace access. A separate toilet and a covered pergola with outdoor kitchen complete the floor.
Upstairs (75.14 m² internal, plus a 12.47 m² terrace) are two further bedrooms, each with its own bathroom, and a home office between them. There is also a laundry room, a technical room and a wardrobe. Both bedrooms open to terraces. The 30.34 m² double garage is on this level, and there is additional internal storage.
Key Features
- 3-bedroom villa with 3 bathrooms and a separate toilet
- 338.47 m² total sellable area: 199.04 m² internal, 39.23 m² terraces, 30.34 m² double garage
- 1,175 m² plot
- Prime position overlooking golf holes 3 and 4 and the Adriatic Sea
- Open-plan living and dining area with fireplace
- Master bedroom with en-suite bathroom on the ground floor; two further bedrooms upstairs, each with its own bathroom
- Home office, laundry room and technical room
- Private 37 m² swimming pool
- Traditional stone terrace with outdoor kitchen, al fresco dining area and outdoor shower
- Spacious terraces and balconies
- Nolte or similar branded kitchen with Miele appliances
- Tiled floors in living areas and bedrooms; premium ceramic tiles in entrance corridor, bathrooms and kitchen
- Electric underfloor heating
- Double garage and internal storage area
- Built-in kitchen, wardrobes, air conditioning and fully fitted bathrooms included; movable furniture not included
What Sets It Apart
Most of the living space faces one direction: the open-plan room, the master suite and the pool terrace all look out over the golf course toward the sea. The terrace has an outdoor kitchen, dining area and shower, so it works as a second living room in summer. The plan is also practical for a family or for letting. The master suite is separate from the two upstairs bedrooms, and the home office suits remote work. A double garage and a 1,175 m² plot are both uncommon in Luštica Bay.
Buyer Lens
- Available off plan, with completion planned for December 2027. Payment terms are 20% on signing the Sales and Purchase Agreement, 50% in interest-free quarterly instalments until delivery, and 30% in interest-free quarterly instalments over 2 years after delivery.
- A private villa with its own pool in The Peaks, next to Montenegro's first 18-hole golf course. Three holes and the ClubHouse are already open, with the full course to follow.
- Golf and sea views from the main living areas, with the master bedroom on the ground floor
- A 1,175 m² plot gives real space for garden and outdoor living
- Home office and double garage suit year-round living as well as holiday use
- Luštica Bay's rental programme lets owners let the villa short- or long-term, with in-house management handling promotion, occupancy and property care
- Developer terms: no property transfer tax, no notary costs for the buyer, VAT included in the price, and a certified translator at the notary appointment at no charge
Local Amenities
In Luštica Bay
- Gary Player Signature 18-hole golf course (three holes playable today), driving range and The ClubHouse, with golf services, coaching, simulator and restaurant
- Centrale, the town centre: cafés, restaurants, shops, medical and dental facility, fire department, bank, and tennis, padel and basketball courts
- Marina Village: the marina, promenade, The Chedi Luštica Bay five-star hotel, and five beaches
- Lungo Mare coastal path along the waterfront
By Car
- Marina Village and beaches: 2.5 km, 7 minutes
- Tivat Airport: 13 km, 19 minutes
- Tivat town centre: 15 km, 27 minutes
- Kotor Old Town: 15 km, 30 minutes
- Dubrovnik Airport: 63 km, ~ 2 hrs
- Podgorica Airport: 91 km, 1 hr 50 minutes
Agent's Honest Take
This is a full-size three-bedroom villa with a large plot and a large pool in the neighbourhood the developer is positioning as Luštica Bay's most prestigious. The plan works well for a family, with the master suite on the ground floor and an office and double garage as well. It is bought off plan, so images are developer CGIs and indicative only, and the golf course is still being completed, with three holes playable today.
Other available Botanika Villas:
*G-1B2-V13 - 4 Bedroom and 4.5 Bathrooms Villa with Area 385.34 m2, Swimming Pool of 37 m2, Double Garage 30.06 m2 and Plot Size 1201 m2, Completion - December 2027, Price 4,232,000 EUR
*G-1B2-V14 - 3 Bedroom and 3.5 Bathrooms Villa with Area 270.28 m2, Swimming Pool of 35 m2, Double Garage 40.67 m2 and Plot Size 1381 m2, Completion - December 2027, Price 3,750,000 EUR
*G-1C1-V1 - 3 Bedroom and 3.5 Bathrooms Villa with Area 352.00 m2, and additional 116 m2 Exclusive Use Area, Swimming Pool of 34, Double Garage 35 m2 and Plot Size 1259 m2, Completion - December 2028, Price 4,260,000 EUR
*G-1C1-V5 - 3 Bedroom and 3.5 Bathrooms Villa with Area 352.00 m2, and additional 115 m2 Exclusive Use Area, Swimming Pool of 34, Double Garage 35.15 m2 and Plot Size 1326 m2, Completion - December 2029, Price 4,408,000 EUR
Spacious balconies and terraces, a private pool and a traditional stone terrace with its own outdoor kitchen, al fresco dining area and outdoor shower make these villas a joy to live in. Evenings end around the fire pit, with the golf course and the Adriatic spread out beyond. Inside, the open-plan layout, accent stone features and high-quality finishes create a home that is luxurious, practical and beautifully detailed, with a double garage and storage for everything else.
In summary, this exceptional real estate property offers a harmonious fusion of luxury, functionality, and meticulous attention to detail. With its open-plan layout, accent stone features, high-quality finishes, and an array of outdoor amenities, it truly embodies the epitome of refined living
These villas are available to buy off plan.
Developer is offering payment terms with 20% of down payment on Sales and Purchase Agreement + 2 years post-delivery in quarterly installments.
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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