Horizon - Luštıca Bay Three Bedroom Apartment for Sale
€1,850,000
Maša Flynn
Features
Explore in 3D
Guided Video Tour
In Brief
Apartment H5-03 is a three-bedroom, three-bathroom ground-floor apartment with a separate guest WC, in Residence H5 at Horizon, Luštica Bay. It has 127.28 m² of internal space, an 11.00 m² terrace and an 88.88 m² private garden held under exclusive usage rights. Total sellable area is 138.29 m². The price is €1,850,000 including VAT, with an underground parking space on a 25-year lease. Off-plan, with delivery planned for June 2029.
Description
Horizon is Luštica Bay's most private neighbourhood, set on the hillside between Marina Village and the golf course, with views across the Adriatic. It is a purely residential area with no shops or commercial units, built in local stone with green shutters and arched porticos, and laid out along cypress-lined paths and terraced gardens.
Residence H5 is in Phase 2, at the marina end of Horizon, right beside the Horizon Clubhouse. H5-03 sits on Level 0, the lowest floor of the building, and is currently the only three-bedroom apartment available in Horizon.
The front door opens into an entrance hall with a guest WC and a built-in cloakroom wardrobe. Beyond it is the main living space: a kitchen and dining room laid out along the back wall, with a dining table for eight, leading into a living room. Folding glass doors open the living room onto an 11.00 m² terrace with space for a table for four, which in turn leads to the garden.
The layout splits the bedrooms into two wings, which works well for families or for owners sharing the apartment with guests. On one side of the living room is a master bedroom with a wall of built-in wardrobes, its own bathroom and a window over the garden. On the other side, a short corridor leads to a second master bedroom with en suite bathroom and dressing area, and a third bedroom with built-in wardrobe and its own bathroom next door, which also houses the washer and dryer. Both of these bedrooms open directly onto a pergola-covered area and the garden.
The 88.88 m² garden runs along the full front of the apartment, below the terrace and bedrooms. Held under exclusive usage rights, it gives the apartment an outdoor area closer to that of a townhouse than a typical apartment, with room for a lawn, planting and outdoor dining.
Ducted air conditioning, exterior shading and underfloor heating in the bathrooms make the apartment usable year-round. Residents share the residence's infinity pool and sun terrace, and an underground parking space is included on a 25-year lease.
Property Features
- Ground-floor apartment, Level 0, Residence H5
- Three bedrooms, three bathrooms plus guest WC
- Two master bedrooms, each with its own bathroom
- 127.28 m² internal area, 11.00 m² terrace, 138.29 m² total sellable area
- 88.88 m² private garden under exclusive usage rights
- Entrance hall with guest WC and cloakroom wardrobe
- Open-plan kitchen, dining and living room
- Terrace accessed by folding glass doors from the living room
- Two bedrooms open directly onto a pergola-covered area and the garden
- Built-in wardrobes in all bedrooms
- Fully equipped kitchen
- Underfloor heating in the bathrooms
- Ducted air conditioning and exterior shading
- Residence infinity pool and sun terrace
- Underground parking space on a 25-year lease
Horizon Homeowner Benefits
- Three years' complimentary Horizon Clubhouse membership
- Exclusive access to Luštica Bay beach and pools, with priority booking at other beaches and beach clubs
- Complimentary shuttle to the marina promenade and town centre
- 24/7 security and customer service
- Discounted rates at The Chedi Luštica Bay for family and friends
- Preferential rates for the spa, gym, sports courts, restaurants, shops and yacht moorings
- Access to the Luštica Bay rental programme
- Year-round property management, maintenance and landscaping at a preferential charge
Other Apartments Available in Horizon
H5-03 is currently the only three-bedroom apartment available in Horizon.
Luštica Bay Lifestyle and Amenities
Luštica Bay is a planned coastal town on the Luštica peninsula, developed by Orascom Development. Marina Village sits just below Horizon, with the marina, a promenade of restaurants, cafés and shops, and The Chedi Luštica Bay hotel and spa. Centrale, the town's second hub, has a piazza and tennis and padel courts. Along the shore are Marina Beach, Zen Beach Sea Lounge, The ROK Beach Bar and The Chedi Beach, linked by the 1.8 km Lungo Mare walkway. The 18-hole Gary Player Signature golf course is under development around The Peaks, directly above Horizon.
Location and Distances
On Foot
- Residence infinity pool – on site
- Horizon Clubhouse – next door, ~2 minutes
- Marina Beach and Lungo Mare walkway – ~600 m, ~10 minutes (downhill)
- Marina Village promenade, restaurants and cafés – ~900 m, ~12 minutes (downhill)
- The Chedi Luštica Bay – ~1.2 km, ~15 minutes
By Car
- Centrale Luštica Bay – ~3 km, ~5 minutes
- Radovići (shops, pharmacy, post office) – ~5 km, ~8 minutes
- Almara Beach and Pecka Beach – ~5 minutes
- Tivat and Porto Montenegro – ~18 km, ~25 minutes
- Kotor Old Town – ~13 km, ~18 minutes
Airports
- Tivat Airport – ~14 km, ~20 minutes
- Podgorica Airport – ~90 km, ~1 hour 30 minutes
- Dubrovnik Airport – ~63 km, ~1 hour 30 minutes, plus border crossing
Buyer's Lens
H5-03 is built for families and for owners who host. Three bedrooms in two separate wings, three bathrooms and a guest WC mean nobody queues in the morning and guests have their own side of the apartment. The garden gives children somewhere to play within sight of the terrace, and the Clubhouse, with its pool, gym and kids' club, is next door.
As a holiday home, the Luštica Bay rental programme and year-round property management take care of the apartment between stays, making it a holiday base that needs no thought between visits. For rental, a three-bedroom apartment with two master suites and a private garden serves a part of the market, larger families and groups of friends, that smaller apartments in Horizon cannot.
Agent's Honest View
This is a ground-floor apartment, and that shapes both its strengths and its trade-offs. The garden, direct outdoor access and the split-bedroom layout are rare in Horizon, but views from Level 0 will be lower and more framed than from the upper floors. The covered terrace itself is modest for a three-bedroom home at 11.00 m²; in practice the garden is where most outdoor time will be spent.
The price sits well above the two-bedroom apartments in Horizon, which reflects its size, the garden and the fact that it is the only three-bedroom currently available. It is off-plan, with delivery planned for June 2029, and the payment schedule spreads the cost well beyond handover.
Completion and Payment Terms
H5-03 is sold off-plan with delivery planned for June 2029. Payment terms are interest-free: 20% on signing the Sales and Purchase Agreement, 50% in quarterly instalments until delivery, and 30% in quarterly instalments over the two years after delivery.
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.
Map
Neighbourhood Guide
Explore Lustica
Learn More about living in Lustica: Things to Do and See in Lustica
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.
Similar Properties
Get Montenegro real estate updates directly in your inbox.
Are you interested in buying a home? Look no further than working with our real estate experts.