According to a new survey by broadband provider TalkTalk, ‘more than half of workers expect they will never return to working five days a week in the office’. This current reality has given rise to a whole new realm of working from home arrangements, meaning emerging global destinations, such as Montenegro, have become increasingly attractive for long-term rentals and property investment. Due to the country’s rare combination of snow-capped mountains, 240 days’ sunshine a year, crystal clear lakes and lush hiking land, people spending the pandemic working from home in Montenegro can enjoy the very best of both sailing and skiing, without needing to cross any borders in this small and easily accessible country.
Situated on the Adriatic Coast, Luštica Bay is surrounded by natural beauty which can be explored on land and out on the lakes with eco-tourism, watersports and exceptional sailing – with residents benefitting from bird watching tours, a yacht club and a mixture of daily and monthly short-term berthing options for boats. Beyond the bay, Montenegro is also home to four World Heritage Sites, including the Bay of Kotor, the largest lake in Southern Europe called Lake Skadar, as well as Plantaže – the largest whole vineyard in Europe. Montenegro also offers some of the most richly diverse eco-systems in all of Europe, with about 3,250 plant species, and 57% of all of Europe’s 226 bird species found regularly in the country. It is no surprise therefore that Luštica Bay is fast becoming one of the Continent’s most desirable destinations, providing virtually unlimited potential for investors, as well as the option to rent one of the new villas, townhouses or apartments using the town’s Rental Brokerage Programme* which takes care of every aspect of the rental process for homeowners – from insurance to apartment promotion and managing the occupancy.
In 2020, Luštica Bay saw an increased interest in long-term rentals, with studios apartments proving the most popular. The rental pool comprised individuals and families from over 20 different nationalities, originating from Switzerland, Germany, the UK, Russia, Austria, Italy and the US. Milan Culic, who rents several times a year says: “We feel a strong connection to Montenegro, not only because it is so close to our home in Serbia, but because the combination of nature, culture and historical heritage makes it one of the most beautiful and undiscovered destinations in the world. The peace and quiet, combined with world-class service, is the reason why why we always come back to Luštica Bay and why we hope to become homeowners in this community one day.”
A popular choice for rentals is the limited collection of five-star branded Chedi Residences available in the town’s first completed hotel, The Chedi Luštica Bay. These 60 private condominium apartments are the perfect way to experience Luštica Bay’s riviera lifestyle while benefiting from the hotel’s award-winning facilities and services. Available as one and two-bed suites, rooms are fully furnished with contemporary interiors by award-winning design team GG & Grace, which open out onto a large balcony, giving residents their own private panorama. As part of the Chedi Hotel, condominium residents will have direct access to Chedi Beach and world-class facilities including, concierge services, the Chedi’s two restaurants, housekeeping and the option to join the gym and The Spa – which received international recognition in 2020. Over the summer, The Chedi Hotel remained open, and was voted number one, out of 650 nominees, in the 2020 World Restaurant Awards and it also won the title of Best Luxury Spa in The World Luxury Spa Awards – thus solidifying the hotel’s world-class status.
In addition to the unveiling of a new Lighthouse containing a family-run restaurant, a new 21 Beach Club in the bay of Velja Spilja and a panoramic Lungo Mare pathway to the Almara Beach Club, 2020 also saw the launch of Luštica Bay’s brand new Iris Residences which overlook the waterfront in the Marina Village. The Iris residential collection comprises 88 apartments in a variety of sizes, with 14 already complete. Surrounded by courtyards, gardens and walkways, these homes blend timeless architectural style and authentic period details with a modern design aesthetic that pays respect to traditional Montenegrin architecture. In addition to the Iris Residences, new Marina Residences have also been released this year, taking the total to 255, each occupying a prime position in the heart of the town, set around Luštica Bay’s marina.
Marc De Ruijter, Director of Destination and Hotel General Manager says, “As we enter the long Montenegrin ski season, and the endpoint of the coronavirus pandemic remains uncertain, buyers and renters are seeing the appeal of embracing the possibility of spending the upcoming months and year in a beautiful haven such as Luštica Bay, which truly has something for everyone – whether that’s a stunning holiday home, an accessible and secure business getaway, a savvy rental opportunity or a permanent home base in Montenegro. All residents of Luštica Bay can feel at home within a growing community where they can truly embrace the Montenegrin saying “Samo Polako”, meaning to slow down and live in the here and now. In 2021, we are looking forward to unveiling Centrale Piazza in the heart of the town as well as an additional pontoon with additional 30 berths will increase the total capacity of the marina to 115 berths.”