Botanika Residences 2bdr Apartment in Lustica Bay

Area: 117 m2 (93 m2 + 24 m2 terrace)

Bedrooms: 2

Bathrooms: 2

Two-bedroom apartment of 117 m2 available off-plan in Lustca Bay’s new development on the golf courses – The Peaks. The Peaks is Montenegro’s first residential neighborhood of its kind and home to the region’s first golf course. Situated above the first two holes of the Gary Player-designed 18-hole golf course, Botanika Residences are the first homes to emerge from this unique fusion of nature and elevated living.

The apartment will consist of a spacious open-plan living room with a dining area and a kitchen, two bedrooms, two bathrooms and two big terraces with stunning views toward the open sea. Future owners will have at their disposal a large communal swimming pool in front of the building, as well as several sandy beaches within the complex.

A convenient payment plan is approved: 25% on Sales & Purchase Agreement + 75% in equal quarterly installments over 5 years. With the expected completion date in 2025, the payment plan will allow the owners to enjoy the property even before the apartment is paid off.

At 7,974 € per m² this listing sits about 17% below the median for Luštica Bay, which stands at 9,636 € per m² across the 21 properties we hold there. Below-median usually means one of three things: set back from the water, an older build, or a floor plan that needs work.

We currently hold 21 properties in Luštica Bay, running from €390,000 to €4,510,000; by price this one ranks 6 of 21. Where a property falls in that order tells you more than the asking price on its own.

On this asking price of €933,000 for 117 m², transfer tax comes to €47,980 — an effective 5.1%. Since 2024 the rate is progressive rather than a flat 3%, so it is worth calculating on the actual figure rather than assuming.

Within 5 km of this address we hold 46 other for sale listings, asking between €125,440 and €5,500,000, with a median of €597,500. At €933,000 for 117 m² this one ranks 16 of 47 inside that radius. Comparing against immediate neighbours is a shorter route to a fair price than comparing against a whole town.