Porto Montenegro, Portonovi or Luštica Bay 2025 – Where Is the Best Place to Invest?

If you are looking for luxury real estate in Montenegro, you have probably come across three names: Porto Montenegro, Portonovi, and Luštica Bay. These are the three leading premium developments in the country, but each offers a completely different lifestyle, pricing structure, and investment potential. The question is: which one matches your goals?

This guide compares all three developments in terms of prices, rental ROI, infrastructure, lifestyle, and potential capital appreciation for 2025–2030. You will find out where to buy an apartment if your priority is maximum prestige, where to invest if you want the best return on investment, and where to choose if you are planning to live year-round with your family.

Porto Montenegro – a status symbol and the highest prices

Porto Montenegro in Tivat is the best-known and most expensive location in Montenegro. It is a superyacht marina with 450 berths, boutiques of world-famous brands such as Dior, Hermès, and Rolex, Michelin-quality restaurants, and the 5-star Regent Hotel. Opened in 2009 by Canadian billionaire Peter Munk, Porto Montenegro quickly became synonymous with luxury on the Adriatic.

Apartment prices start at €10,000/m² and reach €14,000/m² for the best units with marina and mountain views. For comparison, an 80 m² apartment costs €800,000–1,120,000, while a 150 m² penthouse costs €1.5–2.1 million. This makes Porto Montenegro 200–300% more expensive than prime coastal locations in Budva or Kotor.

The main advantages are the absolute concentration of prestige and infrastructure in one location. Everything is within a few minutes’ walk: restaurants, spas, gyms, beach clubs, shops, and Tivat Airport (10 minutes by car). The community consists mainly of high-net-worth individuals from the USA, Russia, the UK, the Middle East, and an increasing number from Poland. Events such as the Montenegro Yacht Show and Portonovi Art Fair attract an international clientele throughout the year.

On the other hand, the disadvantages include high maintenance costs: €100–150/m² per year in service charges, plus marina fees of €400–700+ per metre of berth if you own a yacht. The average selling time is 6–18 months – slightly longer than in other locations because the pool of potential buyers is narrower. Rental yields range from around 4.4–5.5%, which is mid-range for Montenegro – not bad, but not the highest available.

Would you like to learn more about the buying procedure and costs? See our guide Buying Property in Montenegro Step by Step and the details on Property Purchase Taxes in Montenegro 2025.

Portonovi – the new leader with One&Only branding

Portonovi in Herceg Novi is the newest player in the premium segment, opened in 2021. The development is centred around the One&Only Resort (the first European hotel of this ultra-luxury brand), Chenot Espace Wellness Spa (one of the world’s leading medical spas), and a 238-berth marina capable of accommodating megayachts up to 120 metres in length.

Prices start at €7,000/m² for apartments in residential buildings (non-branded residences) and reach €12,000+/m² for apartments with full access to One&Only services and villas with private beaches. For example, a 100 m² apartment costs €700,000–900,000, while a 200 m² villa with a swimming pool costs €2.5–4 million.

Portonovi’s biggest advantage is the One&Only brand and its wellness ecosystem. You have access to hotel services (room service, concierge, housekeeping), the Chenot spa with detox and anti-aging programmes, a private sandy beach (the largest in the region), and world-class dining. It is an ideal place for people looking for an all-in-one lifestyle resort where they do not need to leave the complex throughout the season.

The location in Herceg Novi has its pros and cons. The advantages include a quieter and more relaxed atmosphere than Porto Montenegro and proximity to the Croatian border (Dubrovnik is 30 km away). The disadvantage is that it is farther from Tivat Airport (45 minutes) and has less developed infrastructure outside the complex – Herceg Novi is a small city and does not have as many restaurants and shops as Budva or Kotor.

Rental yields in Portonovi can be high (6–8%) if you participate in the One&Only rental pool, where the hotel manages the rentals and pays you a guaranteed percentage. However, the entry cost is higher than in Luštica Bay, and the market is still young – long-term capital appreciation is likely, but less well documented than in Porto Montenegro or Luštica Bay.

Luštica Bay – the best balance between price and potential

Luštica Bay is the largest master-planned development in Montenegro: 690 hectares, 8 km of coastline, its own marina, a Gary Player-designed golf course, The Chedi hotel, and entire residential neighbourhoods being built in phases by Orascom Development (an Egyptian corporation with experience in developing entire cities such as El Gouna in Egypt and Taba Heights).

Prices start at €4,500/m² in Marina Village and reach €7,000/m² in the most exclusive phases such as The Peaks (golf residences). This means that a 70 m² apartment costs €315,000–490,000, while a 150 m² villa costs €675,000–1.05 million. That is approximately 40–50% cheaper than Porto Montenegro while maintaining a high standard.

The biggest advantage of Luštica Bay is its long-term potential. The project is expected to continue developing through 2030 and beyond, which means that you are buying today at a development-stage price, while in 5–7 years you could have a completed town with full infrastructure: international schools, a medical centre, supermarkets, 10+ restaurants, cinemas, fitness centres, 4 beaches, and an amphitheatre with a regular event calendar. Historical data from similar Orascom projects show value increases of more than 100% between early-phase prices and mature-phase prices.

Rental yields in Luštica Bay are around 6–7.5% (among the highest in Europe for the premium segment), while the average selling time is 4–10 months, faster than in Porto Montenegro. The community is more family-oriented and international, with many expats from Western Europe, the USA, and the Middle East, as well as an increasing number from Poland.

The downside is that the project is still under construction, so some parts still look like a construction site. If you buy in a new phase, you may have to wait 18–30 months for completion. But this also means the best entry prices and the greatest potential margin for capital appreciation.

Comparison in numbers – table

Lifestyle – Which Project Is Right for You?

Porto Montenegro is for you if:

• Prestige and being at the heart of the social scene are your priorities
• You frequently travel by private yacht and want a marina right at your doorstep
• You enjoy an urban vibe with restaurants, events, and activity all year round
• Your budget is €1M+ and you are not concerned about maintenance costs

Portonovi is for you if:

• You are looking for a wellness lifestyle and access to a world-class spa
• You want peace and privacy in a resort atmosphere
• You plan to participate in the One&Only rental pool for higher yields
• You like the Herceg Novi region (closer to Dubrovnik, less touristy)

Luštica Bay is for you if:

• You want the best balance between price, quality, and growth potential
• You are planning year-round family living (schools, community, security)
• You don’t mind waiting for the full completion of the development
• You are looking for higher rental yields with a lower entry point

Interesting Fact: Yachts as Part of the Investment

Did you know that in Porto Montenegro and Portonovi you can purchase an apartment + berth as a package? Some developers offer bundled deals where, for example, you pay €1.2 million for a 100 m² apartment + a 15-metre berth instead of purchasing both separately. This can save €150,000–300,000 compared with buying both individually. In addition, Montenegro offers 40% fuel tax relief for yachts, making the country one of the most affordable places in Europe for berthing luxury boats.

Capital Appreciation Outlook 2025–2030

Porto Montenegro: A mature development with documented growth of >50% between 2015–2025. Over the next five years, expected growth is 3–5% annually (steady appreciation), mainly driven by limited supply and growing demand from the EU and the Middle East.

Portonovi: A young development with significant potential thanks to the One&Only branding and unique wellness offering. Analysts forecast 40–60% growth by 2030, but this depends on the hotel’s success and long-term reputation.

Luštica Bay: The highest growth potential (70–100%+) due to the scale of the project and phased construction. Buying in 2025 in new phases could potentially result in a doubling of value by 2032, when the development is fully completed.

Frequently Asked Questions (FAQ)

Which development has the best infrastructure for families with children?

Luštica Bay stands out in this regard: an international school (British curriculum), medical centre, playgrounds, and a secure gated community with monitoring are planned. Porto Montenegro is more urban and adult-oriented, while Portonovi has a resort-style atmosphere without dedicated family infrastructure.

How high are the service charges and what do they include?

In Porto Montenegro, the fee is €100–150/m² per year and covers the maintenance of common areas, security, and basic utilities.
In Portonovi, the cost is €80–120/m² per year, and the price also includes access to selected hotel services.
In Luštica Bay, the rate is €70–100/m² per year, with the option of additional Golf Club membership (€2,000–5,000 per year).

Can I rent out an apartment through Airbnb in all three developments?

Yes, but each development has its own rules. Porto Montenegro allows short-term rentals provided that the tourist rental activity is properly registered. Portonovi prefers rentals through the One&Only pool (higher rates, less hassle). Luštica Bay also allows Airbnb, but requires compliance with the new EU regulations from 2026 – see our article on Airbnb in Montenegro following the new 2025 EU regulations.

Which development has the best access to the airport and major cities?

Porto Montenegro wins: 10 minutes to Tivat Airport, 20 minutes to Kotor, and 30 minutes to Budva. Luštica Bay is 25 minutes from Tivat and 15 minutes from Tivat city centre. Portonovi is the farthest: 45 minutes from Tivat Airport, but only 30 km from Dubrovnik (the international airport in Croatia).

Does investing in these developments give you the right to a residence permit in Montenegro?

Not automatically, but purchasing property worth €250,000+ simplifies the procedure for obtaining a temporary residence permit. After 5 years, you can apply for permanent residence. You can find details in our guide Montenegro Residence Permit Through Property Purchase 2025.

Your Decision

The choice between Porto Montenegro, Portonovi, and Luštica Bay depends on your priorities: prestige vs. ROI vs. lifestyle. If you have €1M+ and want immediate luxury and social status, Porto Montenegro is unrivalled. If you are looking for a wellness retreat and don’t mind paying a premium for One&Only branding, Portonovi is an excellent choice. But if you want to invest wisely with maximum growth potential while enjoying a family-friendly lifestyle, Luštica Bay offers the best balance.

You don’t have to make the decision alone. As a local partner with access to all three developments, we help Polish clients choose the right community, negotiate terms, and carry out full legal due diligence. We have direct contacts with developers and can often negotiate better prices or unit selection than standard publicly available offers.

Book a free consultation – tell us about your budget and goals, and we will present specific available units in each of the three developments, together with a full ROI analysis and purchase timeline.

Ready to see specific apartments in Porto Montenegro, Portonovi, or Luštica Bay? Contact us – we will prepare a shortlist of available units with price analysis, ROI calculations, and full legal documentation. Your investment in the best hands.

Note: All prices, timelines, and terms provided are indicative and may vary depending on the specific development, sales phase, and current market conditions. Before making an investment decision, we recommend verifying all information directly with the developer and consulting with our team.