Luštica Bay Real Estate 2026: Property Prices, Locations and Buyer’s Guide
Luštica Bay has become one of the most prominent premium real estate markets in Montenegro. What began more than a decade ago as an ambitious master-planned development on the Luštica Peninsula has evolved into a fully functioning destination with a marina, hotels, restaurants, beaches, sports facilities and several distinctive residential neighbourhoods.
For property buyers, one of the most interesting aspects of Luštica Bay is that its development is far from complete. As of 2026, only part of the overall masterplan has been delivered, while several new phases are currently under construction or in preparation.
So, what does this mean for buyers considering an apartment or villa in Luštica Bay? How much does property cost, which neighbourhoods are worth considering, and what investment potential do Marina Village, Centrale, The Peaks and Horizon offer?
Luštica Bay in 2026
Luštica Bay covers approximately 6.9 million m², while recent government data puts the overall value of the project at approximately €1.6 billion.
By mid-2025, approximately €637.4 million had been invested in the development. At that point, 450 apartments, 13 townhouses, seven villas, two hotels, 25 commercial units, five beaches and a marina had already been completed.
However, a substantial part of the masterplan is still to be developed.
This combination of established infrastructure and significant room for future expansion makes Luštica Bay particularly interesting for buyers who are looking beyond a holiday home and considering the property’s long-term value.
How Much Does Property in Luštica Bay Cost?
Luštica Bay sits firmly within the top end of Montenegro’s real estate market.
Prices also vary considerably between neighbourhoods. Some properties in Centrale can be found in the region of €7,000-€8,000 per m², while prime waterfront residences in Marina Village and premium properties in the golf area can exceed €12,000 per m².
For this reason, an average price for Luštica Bay as a whole is less useful than analysing the exact location, view, floor, property type and proximity to the sea.
Marina Village: Waterfront Living by the Marina
For buyers who associate Luštica Bay primarily with the sea and marina lifestyle, Marina Village remains one of the most desirable locations.
The neighbourhood is home to waterfront residences, restaurants, shops, the promenade, Luštica Bay Marina and The Chedi Luštica Bay.
Current listings illustrate just how much of a premium the best locations can command. A two-bedroom apartment has been listed at €1,100,000, while a three-bedroom apartment has had an asking price of €1,150,000.
An important development for future supply is Mirta, which is being presented by the developer as the final residential collection in Marina Village.
The project is expected to comprise 48 residences, ranging from studios to three-bedroom penthouses and a limited number of duplex homes, with completion expected by the end of 2029.
According to currently available pricing, properties start from approximately:
- €365,000 for a studio;
- €564,000 for a one-bedroom apartment;
- €650,000 for a duplex;
- €1.05 million for a two-bedroom apartment;
- €1.885 million for a three-bedroom penthouse.
If new residential supply around Marina Village becomes significantly more limited after Mirta is completed, high-quality existing waterfront properties could benefit from increasing scarcity over the longer term.
Centrale: A More Accessible Entry Point into Luštica Bay
Centrale offers a different proposition. Rather than immediate waterfront living, the neighbourhood focuses more on everyday amenities and the atmosphere of a small town centre.
For some buyers, it can also provide a more accessible entry point into the Luštica Bay property market.
Examples from the 2026 market include a 35 sqm studio listed at €265,000, while studio apartments with private garden were marketed at €275,000.
A furnished one-bedroom apartment has had an asking price of €363,000, while the 85sqm furnished two-bedroom apartment with garden has asking price of €550,000.
Centrale may be particularly attractive to buyers looking for a combination of residential living, amenities available throughout more of the year and a somewhat lower entry price than the most desirable waterfront and golf properties.
The Peaks: Golf Becomes Luštica Bay’s New Premium Segment
One of the most important elements of Luštica Bay’s next stage of development is The Peaks, the residential neighbourhood centred around the golf course.
The long-term plan includes an 18-hole Gary Player Signature golf course, with the first nine holes planned to open during 2026.
The residential offering includes apartments, penthouses and villas, including a limited collection of just 16 SAOTA-designed Twin Villas.
Current asking prices demonstrate the premium positioning of this neighbourhood. A 275 m² golf villa was marketed at approximately €3.37 million, while a 160 m² Twin Villa was listed at around €1.955 million.
New apartments at The Peaks are being marketed from approximately €665,000.
For property investors, the continued development of the golf course and its surrounding amenities will be particularly important to watch, as the completion of the golf offering could further influence both demand and property values in this part of Luštica Bay.
Horizon: New Homes with Extended Payment Plans
Horizon represents another important direction in the continued expansion of Luštica Bay.
According to property offerings available during 2026, studio apartments were priced from approximately €425,000-€450,000, while one-bedroom properties were available from around €616,500 upwards, depending on the particular release and specifications.
One of the key advantages of buying into new developments is not necessarily a lower purchase price, but the financing structure.
For selected developments, Luštica Bay offers extended interest-free payment plans, making the financial profile of buying directly from the developer significantly different from purchasing a completed resale property.
Buying from the Developer vs the Luštica Bay Resale Market
This is one of the most important decisions for anyone considering buying property in Luštica Bay.
When buying directly from the developer, flexible payment terms can be a major advantage. Mirta, for example, offers an initial payment of 10%, with instalments continuing after handover. The Peaks uses a different structure with a 20% initial payment, while Horizon has been promoted with interest-free payment plans extending for up to four years.
On the Luštica Bay resale market, the advantages are different. Properties are generally already completed, allowing buyers to see the actual view, surroundings, building quality and exact location before committing to the purchase.
A completed property can also usually be occupied or rented immediately and quite often, the resale price is lower than the price offered by the developer.
There is therefore no simple rule that either new-build or resale property is always the better option. Buyers should compare individual properties, total purchase costs, payment schedules, annual running costs and their intended use of the property.
Luštica Bay Marina and Beaches
According to current information, Luštica Bay Marina has 115 operational berths for yachts up to 45 metres, with a further 28 berths planned.
Property owners benefit from preferential rates, but ownership of a residence should not automatically be interpreted as guaranteeing a permanent yacht berth. Availability and current pricing should be confirmed directly with the marina.
In 2026, the destination features five main beach concepts: The Chedi Beach, Marina Beach, Signorina Beach Club, Pura Vida Beach and 21’s Almara Beach Club.
Together with the restaurants, hotels, sailing, padel, tennis, golf, sports facilities and cultural events, these amenities are an important part of Luštica Bay’s overall property proposition.
In other words, buyers here are not simply paying for the square metres inside an apartment or villa. They are also buying into the wider lifestyle and infrastructure of the destination.
What Is Still Missing from Luštica Bay?
It is important to distinguish between Luštica Bay’s long-term vision and the infrastructure that is already operational.
The masterplan includes additional hotels, commercial and public facilities, education and healthcare facilities, another marina and the continued development of the golf area.
Is It Worth Buying Property in Luštica Bay in 2026?
The answer depends largely on the purpose of the purchase.
For buyers looking for premium real estate on the Montenegrin coast, a well-managed environment, marina access, beaches, hotels and an expanding range of year-round amenities, Luštica Bay has established a strong market position.
The investment case is further supported by the continued development of the golf area, the expected limitation of new residential supply in Marina Village following the completion of Mirta, and the fact that a substantial part of the overall masterplan has yet to be developed.
On the other hand, entry prices are high. Around €10,000 per m² represents the approximate median asking price in the current market, while prime properties can command considerably more.
For these reasons, Luštica Bay real estate currently makes more sense as a combination of premium lifestyle property and a long-term capital investment than as a conventional high-yield rental investment.
Which Luštica Bay Neighbourhood Should You Choose?
The right location ultimately depends on the buyer’s priorities.
Marina Village is the natural choice for buyers who prioritise the sea, marina, waterfront atmosphere and increasingly limited future supply.
Centrale may suit buyers looking for a more practical year-round environment and a somewhat more accessible entry price.
The Peaks is particularly interesting for buyers who believe in the long-term value of the golf segment and are looking for a premium residential product.
Horizon may appeal to buyers interested in new-build property and more flexible payment schedules.
The most important step, however, is to analyse the individual property. Two apartments of the same size within Luštica Bay can have significantly different values depending on their view, floor, proximity to the sea, terrace or garden, furnishings, stage of construction and payment terms.
Looking for Property for Sale in Luštica Bay?
Before making a decision, it is worth comparing new-build and resale properties in Luštica Bay, price per square metre, payment schedules, annual running costs, rental potential and the characteristics of each neighbourhood.
Explore our current selection of apartments, residences and villas for sale in Luštica Bay, or contact our real estate team for a selection of properties tailored to your budget, requirements and investment goals.