NEW GOLF RESIDENCES
Secluded yet connected to the lifestyle and community of the resort of Luštica Bay, The Peaks provides a spirit lifting setting for Montenegro’s first world class golf experience and contemporary living in architecturally stunning homes. Carefully carved into the rugged topography of the hill, with minimal environmental impact, The Peaks is a new community with an old soul. A traditionally grounded ethos with a contemporary aesthetic. A place to belong, press pause and make memories for a lifetime.
Luštica Bay is an emerging new town on Montenegro’s Adriatic coast. Just 10% complete at this stage, it is already a place you can see yourself living, abiding by its slogan ‘a place to belong’. A marina, with berths for boats up to 45m, graces the town’s coastal edge, and a selection of fabulous Mediterranean restaurants and boutiques, make it a delightful place either to live or to visit. The five-star hotel, The Chedi, with its private beach – one of four within Luštica Bay – and its gorgeous spa, is the first of what will eventually be a collection of seven hotels in the town. There are already two existing neighbourhoods in Luštica Bay, Marina Village, and the town centre, Centrale, offering townhouses and apartments to live or to rent. A third has just been announced, The Peaks: a golf residences, overlooking the 18-hole course that is currently under construction, set to be the first of its kind in the region. Designed by architects Block722 and NRA Atelier, the first collection of residences within The Peaks is Botanika. Offering ultimate seclusion, Botanika is in close reach of the town, whilst being mere steps from the golf course.
Developer, Orascom Development Holding, which is behind the project, has invested €380m into Luštica Bay so far, with plans to invest a total of €1.5bn by the time the town is complete. It is the first and largest greenfield development in Montenegro, and the planned new-built modern infrastructure is valued at €150m. Luštica Bay is the biggest planned investment in south-eastern Europe and finding a site this large would have been no mean feat. Although, immediately upon visiting the town, it’s easy to see why this spot was chosen.
Nestled between the spectacular Luštica Peninsula and the iconic Boka Bay, the town has views to one side of the sparkling Adriatic, stretching further than the eye can see towards Italy, and on the other side it overlooks the UNESCO site. From every angle, the mountains are visible. It’s undeniably special and this vast 7,000,000 square meters plot, which spans 8 km of coastline, must have been highly coveted before development began. The stunning natural beauty of the region, plus proximity to many cultural sites, adventure, good food and a growing wine scene, makes it a place where one can truly imagine living, or owning a second home. Montenegro’s Adriatic coast sees approximately 280 days of sunshine each year, so for a place in the sun, it is perfect. Appealingly, there is no transfer tax for those buying in Luštica Bay, which offers prolonged payment plans spanning years. Montenegro’s annual property tax is just 0.1-1% and steady capital appreciation in the country makes for a pleasing investment opportunity.
The rental programme offers a superb concierge service, for those letting out properties in Luštica Bay for part or all of the year. The design inspiration for Botanika at The Peaks was drawn from local fishing villages, such as the idyllic Perast in Boka Bay, yet with a contemporary touch. The villas and townhouses have been designed with outdoor living in mind, with the golf course, swimming pools, outdoor kitchens and dining. The apartments have unobstructed vistas of the sea, with fabulous viewing of the course’s Hole One tee-off. With the arrival of a year-round golf course set to transform the area’s tourism, one can only imagine the return on investment that is possible if choosing to purchase one of the properties within Botanika, The Peaks’ first residences. That is, if you can resist the temptation to move in and live there all year round yourself!
