Pelinovo Residences
Radanovici, Bay of Kotor
A low-density residential village in the heart of the Bay of Kotor, surrounded by olive groves and mountains, minutes from Tivat and Kotor.
Project Highlights
Location
Radanovici, Kotor
Type
Residential village
Total units
~148
Buildings
12 (Ground + 2 floors)
Kotor Old Town
~8 km
Tivat Airport
~8 km
Beach
Plavi Horizonti ~10 km
Status
New development
My take
Pelinovo Residences - Ana Pajkovic
Pelinovo is where a lower budget buys the feel of a high-end development.
It's a semi-closed community with a pool, gym and its own kindergarten, and the local primary school is close by. It reads as somewhere to live rather than a holiday block. The first two buildings sold out off-plan, before anything was finished, which tells you the pricing is landing.
One detail most buyers miss: the landscaping company behind Luštica Bay's Centrale and marina greenery is doing Pelinovo too. Low-end developers never think about landscaping. I think that, together with the location, ends up being the real value here.
My own read on rental, and it is a read rather than a number I've run: Luštica Bay staff need somewhere decent to live, and around there the stock is either high-end or dated local apartments. There's almost nothing in between. Pelinovo fills exactly that gap.
The trade-off is no sea view. What you get instead is the community - pool, gym, kindergarten, neighbours, safety.
Skip it if a sea view is the point of buying. Look at Boka Verde, Oravista or Luštica Bay instead.
Project Credentials
DEVELOPER
Residential development and construction company behind over 11,000 m² of luxury residences at Lustica Bay, including co-development of the Centrale neighbourhood as joint developer and investor.
LOCATION
Radanovici, Kotor
Central Bay of Kotor village with established infrastructure, schools, and daily amenities.
BUILDING SPEC
Premium finishes
First-class parquet flooring, walk-in showers, latest AC systems, thermal and sound insulation.
COMMUNITY
Village lifestyle
On-site kindergarten, gym, spa center, and EV charging. Low-density buildings with 12-15 units each.
Why This Opportunity Exists
A combination of location, livability, and accessible pricing creates a compelling entry point into Montenegro's Bay of Kotor market.
Gateway to the Bay of Kotor
Radanovici sits on the main road between Budva and Kotor, with Tivat Airport just 8 km away.
Accessible Entry Pricing
Starting from €2,700/m² for new-build quality - one of the most competitive price points in the Bay of Kotor.
Year-Round Community
Private kindergarten, gym, spa center, and a public school 150m away - designed for living, not just holidays.
Low-Density Village Living
Just 12-15 apartments per building, ground-plus-two floors, surrounded by olive groves and green space.
Residency Pathway
Property ownership in Montenegro can support a residency application. Learn more
Pricing Overview
Contact for current unit-level pricing and availability. Sizes shown are based on developer floor plans.
| Unit Type | Area | Price From | Total Units | Availability |
|---|---|---|---|---|
| Studio (T1) | 30-34 m² | €82,500 - €93,500 | 26 | Available |
| 1-Bedroom (T2) | 48-58 m² | €132,000 - €159,500 | 87 | Available |
| 2-Bedroom (T3) | 76-109 m² | €209,000 - €299,750 | 23 | Available |
| 1-Bedroom (T4) | 48-58 m² | €132,000 - €159,500 | 12 | Available |
Pelinovo offers 148 residential units across 12 buildings, with unit types ranging from studios to two-bedroom apartments. Contact for current pricing and availability.
Delivery
Construction started early 2026. The first two buildings (C2 and C4) sold out off-plan and interiors are underway. The 12 buildings are delivered in phases of two, with a new phase every 5-6 months. Full completion is expected around 2030.
Payment Structure
Three flexible payment plans tied to construction milestones. Choose the option that suits your timeline.
| Milestone | % | Timing |
|---|---|---|
| Contract signing | 30% | Within 20 days |
| Concrete completion | 30% | Upon completion |
| Installment 3 | 10% | 4 months after previous |
| Installment 4 | 10% | 4 months after previous |
| Installment 5 | 10% | 4 months after previous |
| Installment 6 | 10% | 4 months after previous |
30% on signing, 30% at concrete completion, then four quarterly installments of 10%. Price: €2,750/m².
On-Site Amenities
Designed for year-round living, not just seasonal visits.
Private Kindergarten
On-site childcare facility
Modern Gym
Fitness center for residents
Spa Center
Wellness and relaxation
EV Charging
Electric vehicle stations
Elevator Access
All buildings equipped
Parking
Sufficient parking spaces
Location
Kotor Old Town
8 km
Tivat Airport
8 km
Plavi Horizonti Beach
10 km
Lustica Bay Resort
11 km
Budva
14 km
Elementary School
150 m
Who This Works For
Relocation buyer
Looking for an affordable, family-friendly base in Montenegro with schools, green space, and year-round infrastructure nearby
Lifestyle buyer
Wanting a Mediterranean village setting with mountain views and easy access to both Tivat and Kotor
Entry-level investor
Seeking an accessible price point for new-build property in the Bay of Kotor with rental potential
Residency seeker
Using property ownership to support a Montenegro residency application with a practical, livable home
Considerations
Radanovici is an inland village without direct beach access. Buyers should be comfortable with a 10-15 minute drive to reach coastal beaches.
Detailed pricing and rental yield projections were not available at the time of listing. Buyers should request current pricing directly and conduct independent rental market research for the Bay of Kotor area.
Montenegro is an EU candidate country but not yet an EU member. Buyers should seek independent legal advice on property purchase and tax implications.
Follow the latest Montenegro market signals on my Insights page.
Get the full file
Get the full Pelinovo Residences File
Complete price list, unit availability, payment plan, and my honest take on which units to avoid.
Prefer to talk? Book a 15-min call with Ana.
Pelinovo Residences - frequently asked questions
How much do Pelinovo Residences cost?
From €2,700/m² - studios €82,500-€93,500, 1-bedrooms €132,000-€159,500, and 2-bedrooms €209,000-€299,750. One of the most competitive new-build price points in the Bay of Kotor area.
What is the Pelinovo payment plan?
30% on signing, 30% at concrete completion, then four quarterly installments of 10%.
Where is Pelinovo located?
In Radanovići, within easy reach of Tivat Airport, Tivat and Kotor.
How many units does Pelinovo have?
Roughly 148 units across studios (T1), 1-bedroom (T2/T4) and 2-bedroom (T3) formats - with 1-bedrooms the largest category (99 units).
When is Pelinovo delivered?
Construction started early 2026; first buildings (C2, C4) sold out off-plan with interiors underway. 12 buildings are delivered in phases of two, with a new phase every 5-6 months. Full completion is expected around 2030.
Can foreigners buy at Pelinovo?
Yes - foreign buyers purchase apartments in Montenegro freehold in their own name.
Related reading
- Where to buy property in Montenegro - the advisor's map
- Buying property in Montenegro - the 2026 buyer's guide
- All current properties I am tracking
Independent advisory, no buyer commission in Montenegro.
Starting from
€82,500