On the Adriatic shoreline at the entrance to Boka Bay, Luštica Bay is a new coastal town built on the codes of traditional Montenegrin maritime living. The destination spans four distinct neighborhoods, with a 115-berth marina, five beaches, an 18-hole Gary Player Signature Golf Course, and a year-round social and wellness calendar. It has become home to a growing international community drawn to its measured pace and its position within one of the Mediterranean’s emerging markets.
The development is delivered by Luštica Development AD, established in 2008 as a joint venture between Switzerland-based Orascom Development and the Government of Montenegro. The first major greenfield investment in the country, Luštica Bay carries a planned total investment of €1.5 billion. To date, more than €775 million has been invested, resulting in over 700 delivered residences, a fully operational marina, five beaches, and Montenegro’s first The Chedi five-star hotel.
A Town Carved Into the Montenegrin Coast
Set on a peninsula at the entrance to Boka Bay, Luštica Bay balances seclusion with connectivity to the wider Adriatic and the country beyond.
Four Neighborhoods, One Coastal Community
Luštica Bay is organized into four neighborhoods, each with a distinct character. Marina Village curves around the harbor as the original riviera quarter, its promenade lined with cafés, boutiques, and waterfront residences. Leading to open horizons, days at Marina Village are spent sailing, swimming, and lingering over long lunches and relaxed evenings on the shore. With 450 waterfront residences already delivered, Marina Village enters its final chapter with Mirta, including a select number of duplex homes, across three buildings. Ranging from 40 to 230 square meters, these homes sit set back from the water’s edge while remaining at the heart of Marina Village, marking one of the most anticipated releases in the town’s history.
Centrale serves as the town center and social core, connecting the community through Piazza Centrale’s shops, dining, and everyday services. Set above the town center beside the golf course, Heights offers a more elevated perspective within Centrale. At its heart, a traditional guvno brings people together, while tiered pools and a yoga deck are oriented toward the sea. Trails meander through lemon, lavender, and olive gardens, drawing the residences deeper into the Mediterranean scene. Its studios, one to three-bedroom apartments, and penthouses offer open-plan living across spaces ranging from 38 to 183 square meters.
Perched on the hillside with wraparound views of Trašte and Boka Bay, The Peaks trades village bustle for tranquillity and wide-open space.
At its core, the 18-hole golf course, a signature design by Gary Player, follows nature’s contours and invites a game guided by the terrain. While morning rounds and tournaments bring the community together, a quieter rhythm unfolds among private pools, dining terraces and residences immersed in greenery.
At the highest point of Luštica Bay, The Peaks residences are set within a low-density, nature-led landscape. On the footprints of the golf course and enveloped in unrivalled views, each is a private sanctuary in which to play, to linger, and to simply be.
Within The Peaks, three residence types cater to different ways of living. Villas offer three- to five-bedroom open-plan layouts set on the footprints of the golf course, ranging from 275 to 400 square meters. Townhouses span 185 square meters with three bedrooms, positioned to overlook the golf course’s fifth hole and the Adriatic beyond. Apartments bring one- to three-bedroom open-plan layouts and penthouses beside the Clubhouse, ranging from 85 to 178 square meters.
Horizon is a private neighborhood set on a historic vantage point where the seascape opens out in full. Positioned in a secluded corner above Marina Village, Horizon offers a private, panoramic perspective within Luštica Bay, moments from the marina and golf course. While the salted air feels fresher at this elevation, the neighborhood stays within easy reach of what matters most. Studios, one and two-bedroom apartments, and penthouses, ranging from 39 to 163 square meters, provide uninterrupted views across the bay.
Accessible by Air and Sea
Access is among the town’s defining advantages. Tivat Airport sits roughly 15 minutes away, and the airports of Podgorica and Dubrovnik are both within two hours by car, placing most major European cities within a three-hour flight. For boat owners, the town’s fully supported marina makes arrival by sea straightforward. Across the 690-hectare peninsula, more than 90 percent of the land is to remain in its natural state, preserving the surrounding landscape for the long term.
A Market of Growing Distinction
Montenegro’s position, climate, and developing economy have positioned it as an increasingly considered destination for international buyers and investors.
An Investor-Friendly Framework
Montenegro uses the euro, removing exchange-rate risk for international buyers, and holds EU-candidate status. The country recorded GDP growth of 3.2 percent in 2025 alongside sustained tourism inflows. The tax framework is structured to support long-term investment: there is no property purchase tax when buying from a developer, rental revenue is taxed at 15 percent applied to only 30 percent of revenue (a 4.5 percent effective rate), and there is no inheritance tax for immediate family members, with free transfer of profits abroad. Property prices across the market remain notably below those of more established Mediterranean coastal regions.
Paths to Ownership
Luštica Bay supports ownership through an interest-free payment plan that allows owners to occupy their home, or to begin generating income through the town’s rental program, while installments continue.
The structured plan typically involves 20 percent on signing the Sales and Purchase Agreement, 50 percent in interest-free quarterly installments until delivery, and the remaining 30 percent over two years following delivery, with terms varying by property cluster. The in-house rental program manages promotion, occupancy, and property care, allowing owners a low-involvement investment that can offset maintenance costs while keeping the residence prepared for personal use.
At full build-out, Luštica Bay is projected to comprise over 3,000 apartments, more than 300 villas, seven hotels, two marinas, an international school, and a town center serving over 6,000 residents, with a Gary Player Signature Golf Course further elevating the destination’s international standing.
Luštica Bay: A Considered Investment on the Adriatic
In a Mediterranean market still defined by limited supply of fully integrated coastal communities, Luštica Bay combines a complete town infrastructure, a transparent purchase process, and a preserved natural setting within a single destination. For international buyers weighing both lifestyle and long-term value, it represents a rare entry point into one of the Adriatic’s most deliberately planned communities.
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