Dipping my head in the cool, clear waters of the Adriatic to ease the 30 degree-plus Montenegrin heat while taking in the beautiful green hilly terrain in the distance, I realised the Eastern European country had gotten under my skin.
The term ‘up-and-coming’ is overused and bandied about for all sorts of places that have already gone way past that.
But Lustica Bay, a former Yugoslavian military base, is the first destination I’ve been to in an age that I feel deserves the tag.
Located 20 minutes from Tivat airport – which is served by EasyJet, Jet2, Ryanair and Wizzair from Britain – and just shy of three hours from London, it’s easy to see why it’s becoming a popular luxury property spot and top-brand hotels are moving in.
Lustica Bay: A former Yugoslav military base turned luxury destination
Add to the mix a Gary Player designed golf course, which when finished, will be in the 10 per cent club – that’s those boasting sea views from every hole – the future looks exciting for the young country.
Montenegro became an independent state in 2006 and visitor numbers are now at more than 2.5million a year compared to under 1million in that first year – but that is dwarfed by its more popular neighbour, Croatia.
Indeed, Dubrovnik is a couple of hours away by car, or speedboat, depending on your preferred method and it is relatively easily to visit both in one trip.
Not in the European Union, but with aspirations to be, the country looks ripe for an explosion of property investment and tourism.
It is currently in the midst of three big-scale marina residential developments. Alongside Lustica Bay, is Porto Montenegro and Portonovi.
There is also the Unesco heritage site of Kotor a half an hour journey from Lustica, where you can also take a boat about Boka Bay and visit the beautiful Church of Our Lady of Skrpjela (located on a remote island in the bay).
All these easily accessible spots – alongside some fantastic walking and cycling trails, and secluded bays for a dip in the Adriatic, are ingredients for this area to soon pop up on the radar for those looking for an overseas property outside of the usual spots, and for more tourists to visit.
Terrain: One of golf’s original rock stars, Gary Player, inspecting the area
Golf with views: To the left of this shot is The Peaks where the golf course is being made – and to the right, Marina Village
Golf and The Peaks residences in development
On my visit to Lustica, I was invited to watch Gary Player hit the inaugural swing up at the golf course, currently under construction.
The views are breathtaking – its dramatic elevation goes from highest hole at 310 meters, to lowest hole at 130 meters.
Mr Player, 89-years-old and one of the only golfers to win a career grand slam, recounts before he swings a story about how he helped Elvis Presley better his golf game (naturally, it’s all in the hips).
When finished in 2028, it will be Montenegro’s first golf course.
The first nine holes will be playable by 2026, and it will house a driving range, golf club and academy.
Mr Player was very passionate to hammer home the importance of the terrain and wildlife in the area.
He said: ‘The property’s natural beauty is extraordinary with its rugged terrain, diverse wildlife, and Adriatic Sea views.
‘If I had to have a house on any golf course in the world or a villa, this would be my place.’
Good sales patter perhaps, but it’s hard to argue that it’s not an incredibly beautiful place to build a golf course and subsequently play when finished.
Alongside it will be residences called The Peaks, with 44 villas, 21 townhouses and 80 apartments, yet to be built.
Why buy a property in Lustica?
Lustica itself is a 690-hectare area – so roughly five times the size of Hyde Park and four times bigger than Monaco.
When I visited in July, at the marina it was relatively calm and peaceful.
Marinas are not my sort of place due to being noisy and busy, but there are plenty of charming restaurants and bars, and I can see why people are snapping up homes here.
Also, if you’re expecting sandy beaches, you’ll need to temper expectations.
Instead, there is a wonderful restaurant-stroke-bar called Almara, where you can eat, drink and take a dip in the cool, clear waters of the Adriatic.
A little up from Marina Village is another residential area under construction named Centrale, which was abuzz with families in the piazza when I visited on a Saturday night.
Lustica will eventually become home to 6,000 residents, with 3,000 apartments, 300 sea view villas and a total of seven hotels. At present, there is a Chedi Hotel, with a Four Seasons expected to come.
And 10 minutes away from Lustica is a Nikki Beach Hotel, located on the bay, rather than the sea, for those looking for a more lively stay.
Villa living: This is what one of the properties at the golf course is expected to look like when built
Pool with a view: Some of the properties at The View will overlook the golf course and Adriatic
As I stood at The Peaks and scanned around the underdeveloped landscape, I did wonder what it would look like in 10 years’ time.
The developers say only 10 per cent of the 690 hectares of land and six kilometres of coastline will be built on.
Under strict Montenegrin planning regulations, new homes must respect local architectural heritage and the natural beauty of the landscape, which appears to be the case in Lustica.
Montenegro declared itself the world’s first ecological state in 1991, so it takes it seriously.
Today, it has five national parks covering 8 per cent of its territory and has four World Heritage Sites, the seventh highest per km in the world.
Prices for properties in Lustica currently start from €433,000 (£365,000) in Centrale, €564,000 in Marina Village and €740,000 in The Peaks.
Price per square metre sits at roughly €7,000, slightly cheaper than €9,000 in Portonovi and €10,000 in Porto Montenegro.
In comparison, the price per square meter in central London is roughly €20,000 and Monaco €50,000.
The developer says Lustica offers the Mediterranean lifestyle with 270 days of sunshine per year.
Location: Lustica is close to Dubrovnik and is easily accessible from Tivat Airport
Grand plan: The former Yugoslav military base will consist of a few different zones, with the gold course the jewel in the crown
The finer detail on buying a home in Lustica
The developer says that Montenegro’s government gives foreign investors equal status to locals.
Property buyers can apply for a one-year residence permit and after five years, can apply for permanent residency if they wish.
Income tax is capped at 15 per cent and there is a transfer tax for resale properties on a sliding scale of 3 to 6 per cent.
There is also a 0.25 to 1 per cent annual property tax of estimated market value by the local council.
Additionally, inheritance tax doesn’t not apply for next of kin. For more information and properties for sale, visit the Lustica Bay website.
Lee Boyce was a guest of Orascom Development Holding and stayed at the Chedi Hotel, where prices start from £175 per night. Flights to Tivat start from £100 return on Easyjet from London Gatwick.
