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INVESTING MADE SIMPLE
Village style marina apartments A�ached hillside townhousesStand alone villasHotel Condos
RESIDENTIAL OFFERINGS
Created for buyer's benefit Low entry price
Price appreciation over timeInstallment payment plan advantage
BUYING OFF-PLAN
Via recommended reputable agen-ciesVia Lustica Bay personnel
RESALENotary & Real Estate agencies fees
Real Estate Transfer Tax (3% of property’s market value)
THE COSTS OF RESALE
Reservation and booking managementHousekeeping and maintenance
RENTAL PROGRAMME
Podgorica80 km
Tivat10 km
Dubrovnik60 km
AIRPORT DISTANCES
LOW DENSITYCONSTRUCTION FOOTPRINT
6.9 MILLION SqM PROJECTFIRST GREENFIELDDEVELOPMENT IN MONTENEGRO
INVESTMENT VALUE OF€1.1 BILLION
18-hole signatureGary Player Golf course
Over 1000 apartments
7 Hotels
2 Marinas for boatsup to 35m LOA2 Marinas for boatsup to 35m LOA
State of the artfacility infrastructure
Over 500 villasand townhomes Over 500 villasand townhomes
FACILITIES MANAGEMENT – Lustica Development A.D. manages the town services in Lustica Bay, and a service charge to cover these costs is levied on the residents. The service charge is established every year and is subject to adjustments based on the actual cost. Contact [email protected] for more information.
HANDOVER 10%
COMPLETION OF SHELL & CORE 25%
RESERVATION 5% (PPA)
NOTARISATION 20% (SPA)
START OF CONSTRUCTION 25%
INTERIOR FIT OUT 15%
INSTALLMENT PLAN
Prospective homebuyers can reserve a unit in Lustica Bay by signing a Reservation Form and paying a reserva-tion deposit of 1000-5000 EUR, depending on the property type. Following the reservation procedure, a Preliminary Purchase Agreement (PPA) should be signed within 14 days. This leads to the final step - the Sale and Purchase Agreement (SPA), signed 30 days a�er the PPA, and is the key document and your legal proof of purchasing the property. The SPA lists the milestones and payment plan that have to be completed in order to have the property of your choice registered under your name.
PROPERTY PURCHASE PROCESS
A�er completion of works by the main contractor, the property is handed over to Lustica Development, and as soon as it is ready for occupation, we invite you to conduct a Pre-Handover walkthrough of your property. You will have the chance to closely inspect all details of the property, inquire about potential furnishing options and plan your official Handover. Prior to the final Handover, we apply for the occupancy certificate. During the Han-dover, all necessary documents are signed by both parties to confirm your ownership of the property(ies).
HANDOVER/DELIVERY PROCESS
RUNNING COSTS
Estimated cost for 80 m2 coastal apartment: Annual real estate tax: for new dwellings €500-800 Annual Touristic Tax: €150 Electricity: €50-100 monthly (when in full use) Water: €20-50 monthly (during summer months) Garbage disposal and communal charges: €10 monthly Mobile plan: €10-50 monthly Landline phone: €10 (local calls only) to € 100 (international calls) monthly Cable TV: €10-50 monthly Internet: €10-50 monthly
240 sunny days per annum293 km coastlineEU integration planned by 20203% FDI Increase in 20151.5% Average inflation (past 5 years)800€ CPI market basket ( 1month, 4 member family)Company set up: 4 working days 1€ founding capital Submission of 3 documents Favourable visa regime
MONTENEGRO KEY FACTS
3% tax on the transfer of immovable propertyNo transfer tax when buying directly from Lustica Bay 0.1% to 1% Annual Property tax 9% Corporate Income Tax rate (reduced)19% Standard VAT rate 7% for some products and servicesAverage customs tax rate is around 6% 3% with EU and some other countries 0% for many product types
FLAT AND COMPETITIVE TAX SYSTEM
EURO Currency SafetyHighly competitive property prices Free transfer of profits abroadFree access to European and Russian marketEconomic reforms and newly created institutionsQuick company registrationAvoidance of double taxationFree trade zones where firms are exempted from paying VAT and corporate taxEqual regulations for domestic and foreign investors property rights on movable or immovable assets property and inheritance rights Renewable 1 year residence permit (for property owners)
KEY FACTS FOR INVESTORS
ROME
TIRANA
SOFIA
BUDAPEST
BELGRADEZAGREB
MONTENEGRO
IMPORTANT NOTE: Whilst every care has been taken to ensure accuracy of the brochure content, the information, photographs and imagery should be used as a guidance only since it is not warranted as being accurate and is subject to change without notice by Lustica Development AD. The company is in no way responsible or liable for any damages whether they be direct, indirect, punitive, special consequential, contribution or indemnity of any kind whatsoever, however caused, arising out of either the “use of the brochure“ or “reliance upon the Brochure“ and the Brochure contents.