Piece of heaven for EUR 4,000 per square meter - Suites, houses and villas within Lustica Bay complex interested to buyers from Serbia as well

Lustica Bay, a complex under construction on the Lustica Peninsula, has an estimated value of few billion euros, and the price of space within it will be around EUR 4,000 per square meter. There are already many interested buyers, among which are Serbs too.

As announced, Lustica Bay will be a town living 365 days a year. This complex at the Montenegrin seaside is being built by the Lustica Development company on the Lustica Peninsula, in the vicinity of Tivat, for almost a year, and it is a joint undertaking of the Montenegrin government (10%) and Orascom Development (90%).

Investors announce this project as a new jewel in the crown and promise to turn only 6% of 690 hectares into residential space, while the remaining 94% will remain untouched nature. These 6% will include over 1,000 apartments, 500 residential villas and houses, seven hotels, as well as two marinas and other facilities that will complete the look and functionality of this town.

Inspiration for the design of this town was found in traditional architecture of the Montenegrin seaside, said the representatives of Lustica Development.

Lustica Bay is also the first registered LEED project for living in Europe, while the sustainability of this town is reflected in the inclusion of local community in its life.

This town was the first in Montenegro to get a building permit for a golf course. A professional 18-hole gold course designed by the famous designer and golf player Gery Player will be situated above the town.

The first tenants are expected to move into Lustica Bay in early 2015.

The price of real estates in Lustica Bay averages EUR 4,000 per square meter.

Apartments within this complex range in size from 34 to 190 square meters, townhouses 128sqm – 187sqm and villas from 280sqm. About 50 apartments were sold annually in the last two years with 10 apartments sold this year, which is more than planned.

There are many interested buyers, and some facilities are already purchased by buyers from Egypt, Russia, Montenegro... as well as Serbia.