TL;DR: Lustica Bay real estate costs about €6,000 to €15,000 per m² in 2026. With us, homes run from €395,000 for a hotel studio to €3.5 million for a villa.
Lustica Bay is a new seaside town near Tivat, in Montenegro. It has four neighbourhoods, a marina, two hotels, five beaches and the start of a golf course. About a quarter of it is built. Homes here cost more than in the towns around it. A one-bedroom in the town centre is about €412,500 with us.
Below, we’ll show you each neighbourhood, real prices, what changes when you buy a resale home, and what you can earn in rent.
What is Lustica Bay?
Lustica Bay is a town built from scratch on the Luštica peninsula. One builder, Orascom, is making the whole thing. Montenegro’s government owns a 10% share.
| Fact | Number |
|---|---|
| Size of the site | 690 hectares, with about 6 km of coast |
| Neighbourhoods | 4 |
| Homes sold so far | Over 1,000 |
| Boat spaces in the marina | 115 today, 220 planned |
| Hotels open | 2 |
| Golf holes open | 3 of 18 |
| Drive to Tivat airport | 14 km |
You can see all four neighbourhoods and both hotels on the Lustica Bay website.
Here’s the part to keep in mind. Lustica Bay isn’t done. More than €600 million has gone in so far, and only about a quarter of the plan is built. You’re buying into a town that’s still growing.
The four Lustica Bay neighbourhoods
Each part of Lustica Bay feels a bit different. Here’s how to tell them apart.
| Neighbourhood | What it’s like | Good for | A price from our listings |
|---|---|---|---|
| Marina Village | By the water and the boats. The most finished part. | You want cafés and the sea at your door | Two-bedroom near the marina, €1,300,000 |
| Centrale | The town centre, with shops, a hotel and a square | You want a first home here, or a home to rent out | One-bedroom, €412,500 |
| Horizon | On the hillside, with wide sea views and a clubhouse | You want quiet and a view | One-bedroom with a yard, €737,000 |
| The Peaks | High up by the golf course. The priciest part. | You want a big villa and you play golf | Five-bedroom villa, €3,482,000 |
A few more things to know:
- Centrale is the lowest-priced way in. Studios there start at about €269,000.
- Horizon homes come with three free years at the clubhouse, plus a private beach and pool.
- The Peaks starts at about €859,000. Its first flats are due in December 2026. The villas come later, from 2027 to 2029.
Lustica Bay real estate prices in 2026
Most homes in Lustica Bay cost €6,000 to €15,000 per m². That’s the range one investor’s guide gave in August 2026.
How does that stack up? The same guide puts Porto Montenegro at €8,000 to €14,000 per m². Portonovi is about €12,000.
Here’s what our own listings show.
| Home | Where | Size | Price | Per m² |
|---|---|---|---|---|
| One-bedroom | Centrale | 65 m² | €412,500 | €6,346 |
| One-bedroom with a yard | Horizon | 115 m² | €737,000 | €6,409 |
| Hotel studio | The Chedi | 47 m² | €395,000 | €8,404 |
| Two-bedroom penthouse | Centrale | 94 m² | €800,000 | €8,521 |
| Five-bedroom villa | The Peaks | 338 m² | €3,482,000 | €10,288 |
| Two-bedroom, marina view | By the marina | 114 m² | €1,300,000 | €11,404 |
The size counts terraces and yards. So the price per m² of the indoor space is higher.
What about just outside the gates?
This is the tip most guides skip. Radovići is the village next door. It’s 800 m from Centrale.
We have a new two-bedroom flat in Radovići for €168,000. That’s €3,000 per m². It’s less than half the price of the lowest home inside Lustica Bay.
You won’t get the private beaches or the clubhouse. But you can walk to the same cafés.
New or resale in Lustica Bay: what changes?
You can buy a new home from the builder. Or you can buy a resale home from someone who owns one now. The home may look the same. The deal isn’t.
| New, from the builder | Resale, from an owner | |
|---|---|---|
| Tax when you buy | No transfer tax. The price has 21% VAT in it. | 3% to 6% transfer tax |
| How you pay | 20% when you sign. The rest over two years after you get the keys. | You agree it with the owner |
| When you move in | Some are ready. Some are due from late 2026 to 2029. | Right away |
| What to check | The finish date and what’s in the price | The title papers, unpaid fees and any rental deal |
The tax is the big one. On a resale home, the transfer tax is €17,000 on a €400,000 home. It’s €40,000 on an €800,000 home. Add that to the price when you compare.
How big is the resale market? It’s hard to say. One big property site showed 438 homes for sale in Lustica Bay on 3 October 2026. That’s new and resale mixed.
We’ll be honest about one thing. Nobody shares what resale homes sold for. So we can’t give you a true “resale price” for Lustica Bay. We can only show you what owners are asking.
Can you rent out a home in Lustica Bay?
Yes. There are two ways.
Rent it by the year. Here’s what we have for rent in Centrale right now:
| Home | Size | Rent per month |
|---|---|---|
| Studio | 44 m² | €1,000 |
| One-bedroom with a garden | 60 m² | €1,400 |
| One-bedroom | 57 m² | €1,500 |
Let’s do the math. A one-bedroom in Centrale costs about €412,500. At €1,400 a month, it brings in €16,800 a year. That’s about 4% a year, before bills, fees and tax.
Rent it to holiday guests. The builder runs a rental service for owners. The busy season is short. Homes are about 60% full from May to September.
Here’s a real number from one of our listings. The hotel studio in The Chedi paid its owner about 2.86% in 2025, after costs. The owner can also stay 30 days a year, but not in July or August.
So buy here for the place first. One outside guide says homes like these are great to live in but rarely the best way to make money. We think that’s fair.
Want to compare? See our guide to rental yields by city and our guide to short-term rental rules.
Golf, marina and what’s still to come
A lot of the price is a bet on what gets built next. So here’s where things stand.
| What | Today | Still to come |
|---|---|---|
| Golf | 3 holes and a driving range | 9 holes in 2026 or 2027. All 18 in 2028 or 2029. |
| Marina | 115 boat spaces | 220 planned |
| Hotels | The Chedi and Centrale by Angsana | More are planned |
| Homes | Over 1,000 sold | More than 3,000 planned |
The golf course opened to the public on 1 April 2026. It was drawn up by Gary Player, a famous golfer.
Some things are still just plans. A second marina and a school have been talked about, not built. Ask us what’s open today, not what’s on the map.
Rules to know before you buy in Lustica Bay
Four rules matter here.
You can buy if you’re not from Montenegro. You don’t need to live here. Read more in can foreigners buy property in Montenegro.
A home can help you stay. Since January 2026, your home must be worth €150,000 or more on the tax office’s books to ask for a permit to live here. Every home we have in Lustica Bay costs more than that.
New homes and resale homes are taxed in two ways. A new home has VAT in the price and no transfer tax. A resale home has a 3% to 6% transfer tax. Our guide to the hidden costs of buying lists the rest.
There are new building rules around the Bay of Kotor. In March 2026, a new law made it harder to get a building permit in the protected zone. In Tivat, a permit now needs a yes from the state heritage office. We can’t tell you from here if that touches the home you like. If your home isn’t built yet, ask to see its building permit.
Rules change, and this isn’t legal advice. Use a local lawyer before you sign.
Lustica Bay real estate: FAQs
How much is an apartment in Lustica Bay?
With us, a one-bedroom in Centrale is €412,500. A two-bedroom penthouse is €800,000. Studios in Centrale start at about €269,000.
Is Lustica Bay finished?
No. About a quarter of it is built. The marina, two hotels and three golf holes are open.
Is Lustica Bay a good place to buy?
It’s a good place to live or spend your summers. The rent you can earn is modest, at about 3% to 4% a year in our listings.
Is it cheaper to buy a resale home?
Not always. A resale home has a transfer tax of 3% to 6%. A new home from the builder doesn’t.
How far is Lustica Bay from the airport?
It’s 14 km from Tivat airport. It’s about the same from Porto Montenegro.
Can I buy near Lustica Bay for less?
Yes. In Radovići, 800 m away, we have a new two-bedroom flat for €168,000.
Key takeaways
- Lustica Bay real estate costs about €6,000 to €15,000 per m² in 2026.
- There are four neighbourhoods. Centrale costs the least and The Peaks costs the most.
- A resale home has a 3% to 6% transfer tax. A new home doesn’t.
- Rent brings in about 3% to 4% a year, so buy for the place first.
- Only a quarter of the town is built. Ask what’s open today.
Want to see Lustica Bay for yourself? Look at our homes for sale in Lustica Bay, our homes for rent in Lustica Bay or send us a message. We’ll set up the visits for you.
Thinking of buying in Luštica Bay?
Tell us your budget and what you’re looking for. We’ll send you homes that fit, including ones that aren’t listed yet. Valentina or one of the team will reply.
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