Next month, I’ll leave my home here in Ireland to spend some time back in northern Portugal.
That’s become a rhythm for me now. And every time I return, I’m reminded how dramatically this corner of Iberia has changed.
A few years ago, almost nobody outside Portugal was paying attention to Caminha—the historic town near the Spanish border where the River Miño meets the Atlantic.
Back then, you could still buy grand old homes near the river or coast for prices that felt almost absurdly affordable.
I know because I bought one myself.
A 5,000-square-foot historic mansion for just €410,000.
The medieval town of Caminha juts out in the Minho River that separates Portugal from Spain. This is a vibrant and increasingly upmarket destination. You can watch my recent YouTube video about Caminha here.
My wife and I bought for personal use.
At the time, it felt like an obvious play. Beautiful Atlantic scenery. Authentic lifestyle. Easy access from Porto. And a growing wave of international buyers slowly pushing north out of the country’s better-known hotspots.
Today, scarcity is driving increased demand.
Last June, I wrote that I expect this home to be worth €1 million within five years.
But looking at the availability of homes in Caminha now, and the prices they are selling at, I estimate my own property is already worth around €1 million…way ahead of my expectations!
And this wasn’t some speculative moonshot.
It was a low-risk lifestyle play in a place that simply hadn’t yet been fully discovered internationally.
Plus there’s the house-swapping and rental possibilities…
My historic villa in the Caminha region cost less than $90 per square foot in U.S. dollar terms. And it includes furniture that came from Brazil with the first owners at the end of the 1800s.
Recently, I took a six-night August booking that brought in €4,156 ($4,819). That single booking covers three months of mortgage payments on the property.
And it’s not just renters showing interest.
We recently completed our first successful house swap there—another reminder of how desirable this region has become to international travelers looking for authentic European experiences.
After their stay, our guests wrote to say “your house is beautiful. The art above is magnificent. It transports you to 1920”.
The conversation even led to an invitation to visit Leon in return…
Now, as scarcity tightens further in Caminha, I find myself increasingly looking across the river—to Galicia, Spain.
Because while northern Portugal has already seen a major wave of international discovery, parts of coastal Galicia still offer the kind of value that has become increasingly scarce on the other side of the water.
Here’s an example…
This large historic mansion overlooks the river that separates Portugal from Spain.
This is a stunning, 5,970-square-foot historic mansion…right on the border of Portugal and Spain…with incredible views of the water…for just $104 per square foot.
This mansion overlooks the Minho River that divides northern Portugal from Spain’s Galicia region. The lifestyle here is very similar to that on the Caminha side.
You have access to incredible history and weather…stunning beaches and bucolic countryside…amazing food… And the international airport in Porto is only around an hour and 15 minutes’ drive away.
Deals like this are all but gone now on the Portuguese side. But just across the river in Spain, you can still find listings like this. That speaks to how quickly this region has been discovered…and to the scale of the opportunity now emerging in southern Galicia.
Technically, there is a border between northern Portugal and Galicia. Though in reality, these worlds merge. Bridges span the river. People move seamlessly between the two sides on a daily basis. Folks live on one side and shop or work on the other.
They’re so close that often while driving along the river in Portugal, my iPhone puts me on Spanish time rather than Portuguese. (Spain is in a different time zone to Portugal, an hour ahead.)
Inside this Galician house, there are lots of attractive historic features.
This explains why the listing I found is so reminiscent in style and design to the home I bought in Portugal and other properties on that side of the river.
This stunning historic mansion has six bedrooms and two bathrooms across 5,970 square feet.
Inside, you’ll find large ceilings, traditional mosaic tiling and many other charming historic features. And from multiple rooms and terraces, you can see stunning views of the Minho River and the rolling hills of Portugal just across the water.
The facade of the house appears well maintained. And you have a garden on the spacious 11,000-square-foot plot.
The location here is excellent. You have the Spanish town of A Guarda on your doorstep. And because there’s a bridge a short drive away, you can be in Portugal in about 10 minutes, in downtown Caminha in less than 30, and in Porto in only around an hour and fifteen minutes.
The rooms at the front of the property have outstanding views of the river, the ocean, and Portugal across the water.
Proximity to Porto gives you easy access to a major international airport, hospitals, and all the incredible history and dining that draws folks from around the world to Portugal’s second city.
This house is on the market for €535,000. That’s around $620,400.
You can read the full listing here.
It needs some modernization. But at that price, you can own it for only about $104 per square foot.
As I say, this listing is like a throwback to the kinds of homes and pricing that were abundant in Caminha a few years ago.
Then the opportunity spread north from Porto. Now that Caminha is being discovered, it won’t be long before opportunity crosses the river into the southern border area of Galicia.
More on Caminha when I have boots on the ground in Portugal next month.
Wishing you good real estate investing,
P.S. If you’re interested in this listing you should hire an attorney and do your own due diligence. We haven’t done any due diligence on it.
P.P.S. For more listings of affordable overseas dream homes, click here to follow our Your Overseas Dream Home Instagram account.
