2 Bedroom Apartment for Sale in Lustica
€859,000
Peter Flynn
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Description
Set on Montenegro's unspoilt coastline, Lustica Bay reflects a measured and graceful Mediterranean way of life.
Here, centuries of local tradition and heritage sit naturally alongside contemporary architecture and modern comforts, creating a destination that honours both the past and the future of Montenegro.
Conceived and developed with care and long-term intent by Orascom Development, Lu?tica Bay draws on an exceptional depth of experience in creating fully integrated communities.
This considered approach provides a strong and enduring foundation, allowing the town to mature organically and sustainably over the decades ahead.
The Peaks is the town's most elevated and refined neighbourhood to date.
Architecturally striking yet quietly confident, its homes are defined by subtle sophistication and carefully considered interior design.
Shaped into the dramatic hillside with minimal environmental impact, the neighbourhood enjoys expansive views across the rugged landscape and out to the Adriatic Sea.
Bordering Montenegro's first-ever 18-hole golf course, The Peaks possesses a timeless quality - a community with an old soul, expressed through contemporary design and rooted in a deep respect for its surroundings.
Within The Peaks, Botanika represents the most exclusive residential offering.
Each home has been meticulously designed to take full advantage of its position, with sweeping views across the Adriatic and over the opening holes of the golf course.
The collection includes elegant villas, three-bedroom townhouses with private swimming pools, and apartments ranging from one to three bedrooms.
Created as peaceful private retreats, the residences are built in accordance with sustainable architectural principles and finished with natural materials such as stone and wood.
Botanika offers a rare balance of privacy and seclusion, while remaining moments from the forthcoming town centre, where residents will enjoy access to shopping, sports facilities and a curated dining scene.
The apartments are generously proportioned, with open and uninterrupted views across golf holes one and two and the Adriatic Sea beyond.
Interiors are arranged around spacious open-plan living and dining areas, designed to feel both inviting and functional.
Each residence features a bespoke, custom-made kitchen equipped with Miele appliances, or an equivalent internationally recognised brand.
Finishes are refined and contemporary, including porcelain tiles with stone and terrazzo effects throughout.
Wraparound balconies extend the living spaces outdoors, allowing residents to fully appreciate the surrounding landscape.
Owners also enjoy access to the neighbourhood swimming pool and the Guvno seating area, as well as the convenience of a dedicated neighbourhood parking area.
A selection of upgrades is available for those seeking an even more tailored finish.
These include bespoke wood veneer wardrobes, high-quality parquet flooring, additional Miele appliances or similar, branded fittings and sanitary ware, and a towel heater.
Standard specifications include Laufen and Catalano sanitary ware, paired with Hansgrohe bathroom fittings and accessories, or similar, finished in polished chrome.
Upgrade options offer Laufen and Catalano, or a comparable international brand, combined with Hansgrohe bathroom fittings and accessories in a refined matt black finish.
Choose from the following available apartments:
* Two-bedroom Apartments:
- GA401, Internal area 83.73 m2, terrace 30.38 m2, Total area 118.11 m2 + 42.91 m2 exclusive usage area, Price - EUR 1,360,000
- GA404, Internal area 89.61 m2, terrace 30.38 m2, Total area 119.99 m2 + 42.41 m2 exclusive usage area, Price - EUR 1,447,000
- GA405, Internal area 88.67 m2, terrace 30.38 m2, Total area 119.05 m2 + 44.57 m2 exclusive usage area, Price - SOLD
- GA408, Internal area 88.35 m2, terrace 30.38 m2, Total area 118.73 m2 + 41.17 m2 exclusive usage area, Price - SOLD
- GA412, Internal area 92.74 m2, terrace 11.62 m2, Total area 104.36 m2, Price - 1,156,000 EUR
- GA413, Internal area 87.55 m2, terrace 18.13 m2, Total area 105.68 m2, Price - 859,000 EUR
- GA415, Internal area 94.06 m2, terrace 14.06 m2, Total area 108.12 m2, Price - SOLD
- GA416, Internal area 95.07 m2, terrace 14.06 m2, Total area 109.13 m2, Price - SOLD
- GA418, Internal area 86.08 m2, terrace 19.01 m2, Total area 105.09 m2, Price - SOLD
- GA419, Internal area 88.35 m2, terrace 20.99 m2, Total area 109.34 m2, Price - SOLD
- GA423, Internal area 87.55 m2, terrace 18.13 m2, Total area 105.68 m2, Price - SOLD
- GA424, Internal area 88.01 m2, terrace 16.55 m2, Total area 104.56 m2, Price - SOLD
- GA427, Internal area 95.07 m2, terrace 14.06 m2, Total area 109.13 m2, Price - SOLD
As privileged residents of The Peaks, you will enjoy exclusive access to a variety of amenities, including:
* Four pristine beaches
* Elegant sea lounges
* World-class restaurants, bars, and boutiques
* A scenic marina-side promenade
* Activities such as tennis, swimming, kayaking, padel, and more
* Exclusive year-round social events
* Additional homeowner benefits.
These apartments are available to buy off-plan. Completion date is planned for December 2026.
Payment Terms: 20% on Sales Purchase Agreement + 2 years post-delivery in quarterly installments.
ntRealty is a Real Estate Agency based in Tivat, Montenegro, headed by British businessman Peter Flynn, who has lived in the area since 2005 and focused his efforts in various aspects of real estate, including development, architecture, interior design, and investing in real estate in the area. The Tivat office is run by a team of professionals who really understand the local market. The team is there to help guide you through the buying (or selling) process, and we pride ourselves on giving a high level of service in a polite, friendly, and efficient way.
ntRealty specializes in properties for sale all around the Bay of Kotor, Tivat Bay, and Lustica, and our clients range from Porto Montenegro and Lustica Bay to hundreds of private individuals who put their trust in our operation.
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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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