This week, my senior researcher Margaret Summerfield put boots in the ground in Caminha…
This charming town in northern Portugal has been on my radar for some time now. In fact, in my
2024 global real estate index released late last year, I ranked it the second best place in the world to buy property, behind only Los Cabos, Mexico.
Since then, my team and I have returned to scout this town on several occasions. This is what we do when we identify a destination with such enormous potential. We go a hundred miles deep, investigating every facet.
I’ve scouted it just a couple of weeks ago. A few months prior, at the start of the summer, two of my team members, Ciaran and Alan, were on the ground here. Now, Margaret is checking it out.
Oh, and I’m in the process of buying a home here…
My senior researcher Margaret Summerfield shared this photo of Caminha’s town square in our WhatsApp scouting group. She put boots on the ground in Caminha this week, continuing our in-depth scouting of this charming town in northern Portugal…
My team and I keep returning to scout this part of Portugal for one simple reason: It offers some of the best value real estate in the world right now.
Caminha is on the country’s far northern border, separated from Spain by only a river. This is idyllic small-town Portugal…
History is all around here. Winding cobblestone alleys lead to towering stone walls and landmarks like the 15th-century Igreja Matriz de Caminha church. At the heart of town is Caminha’s pretty central plaza, where cafés and restaurants ring a 16th-century stone fountain. At one end of the square, the striking 13th-century Torre do Relogio clocktower stands watch.
This square is the perfect place to sit with a coffee and pastel de nata and soak up the town’s tranquil atmosphere…
A photo Margaret snapped of Caminha’s 13th-century Torre do Relogio clocktower. Evidence of Caminha’s rich history can be found throughout the town, but the vibe here is also modern and upmarket.
Despite all this rich history, Caminha has a surprisingly modern and upmarket feel. There are art galleries and gourmet restaurants…boutique hotels and fine wine stores…
Then, step outside of the town center and you’ll find incredible natural beauty.
At the edge of Caminha, you have stunning beaches, lush pine forests, rolling hills, and the glistening Minho River. It’s all just so livable.
But the crowds of folks who have already turned the Algarve, Lisbon, and Porto into tourism powerhouses haven’t yet discovered this place.
Still off the beaten track, Caminha isn’t thronging with tourists…yet. When I visited back in August, Caminha was bustling…but that was during peak tourist season, July and August. Outside of these months, the town feels very different
Margaret says that the people who are visiting right now are mostly walkers…tourists on walking holiday tours of Portugal and hikers following the pilgrim route of the Portuguese Coastal Camino that leads to Santiago de Compostela in Spain.
When my scout Ciaran Madden visited in June, he found the same thing. Back then, he wrote: “Visiting in June, I’d expected to see scores of tourists wandering the town and lounging on the beaches. But the beaches were blissfully quiet. And for the most part, the only visible visitors in the town itself where the constant stream of hikers passing through.”
Although it’s nearing the end of September, Margaret reports that the weather is perfect. Not too hot, not too cold. “I was walking around in a t-shirt from mid-morning until about 4 p.m.” she says. “The rest of the time is sweater weather. There’s a fresh breeze at times but it’s beautiful in the sunshine. I even saw people on the beach in bikinis!”
Here’s a video Margaret recorded while she was on the ground…
As with the scouting trips myself and my other scouts Ciaran and Alan took to Caminha recently, Margaret is on the hunt for good-value real estate.
Because Caminha, and the surrounding towns and villages, are largely unknown to foreign tourists, expats, and second home owners, prices here are astonishingly low compared to Portugal’s most famous coastal destinations.
Margaret came across this listing for a historic home in the center of town. It spans 2,700 square feet across two floors. It’s a renovation project, but the listing price is just €185,000 ($207,350).
She also found this two-bed apartment under development near the center of town and just 50 meters from the river. When completed, it will span 1,200 square feet and include air conditioning and a fitted kitchen. The price: €200,000 ($224,000).
You’ll find other properties in this price range around Caminha right now…
- This two-bed, two-bath stone house, originally built in 1937, is just a 10-minute drive from Caminha’s center and has a terrace on the second floor with a view of the river and Spain on the other side. It’s listed at €150,000 ($176,800).
- About an eight-minute drive from the historic center of Caminha and a five-minute drive from Moledo Beach is a bright, modern two-bed, two-bath apartment set over two floors. The asking price is €225,000 ($251,750)…see the listing here
- If you’re willing to take on a renovation project, you could own this stunning, expansive historic home in the center of town for €185,000 ($207,350).
This charming, 1,650-square-foot stone house, built in the 1930s, is on the market in Caminha for €150,000. Listing here.
As you can see, there’s bang for your buck to be had in Caminha…for now. That will change. Prices will soar.
Gentrification is already moving through this picturesque town. I saw signs of it when I was there last month…buildings undergoing renovation, streets being re-laid. And this week Margaret saw work being carried out on the streets around the main square.
The real estate agents I spoke to in Caminha on my recent visit told me that demand here is way up…and inventory is down.
And it seems there are steps being taken to address that.
Margaret spotted a new development of modern homes under construction. Set among pine and eucalyptus trees, she said the development had beautiful views of the river and beaches. She found one of the homes listed online. The asking price for a four-bed, four-bath home is $490,000 (€548,650). You can see the listing here.
High-end developments like this suggest that the rich are discovering Caminha.
The crowds will follow. But they’re not here yet. You can still find amazing deals.
That’s why I’m purchasing a massive old mansion in this region…and the price is incredible. I’ll be sharing more about this deal in the coming weeks.
I’m also in the middle of planning something very special—an online event where I’ll discuss exactly how you buy in this region of northern Portugal. I’ll share the agents to call…the lawyers to use…the bank where you can get financing…everything you need to know.
There’s a once-in-a-generation opportunity here…now is the time to act. And I’ll be showing you how.
I’m still fine-tuning the details of this event but will be ready to share them very soon. Stay tuned…
Ronan McMahon, Founder, Overseas Dream Home & Real Estate Trend Alert
P.S. Have a question or comment for me or my team? A question about owning in Portugal? A destination you’d like us to scout. Share it here by. I’d love to hear from you. Here’s a question I got from a reader…
Mark B. asks: I am a Real Estate Trend Alert member and have been following your updates on Caminha. What I don’t see or sense is that there will be a RETA deal happening in or near Caminha any time soon. Am I getting the right impression? Or is there a possibility of a RETA deal on the near horizon for Caminha?
Ronan says: Hi Mark. Thanks for your question…it’s one that I’ve gotten from a few readers recently following my recent trip to this charming town.
As I say, the northern region of Portugal where Caminha is located is overlooked and undervalued. Right now, you can buy real estate here for prices that are reminiscent of the Algarve 30 years ago (and look how that turned out).
Northern Portugal is at the perfect nexus. The “mainstream” still haven’t discovered its charm, beauty, and elegance. But that will change. As folks grow weary of the hordes of tourists and visitors that are crowding into Lisbon and Porto, they’ll go looking for the “next places.” Caminha and the other beautiful and very livable towns of the north, will appear on their radar. It’s inevitable that prices will rise.
But when it comes to finding one of our exclusive, off-market RETA deals here, it’s challenging because real estate developments in the north are rarely of the same scale as those that you’ll find in popular destinations to the south like the Algarve.
To get the incredible RETA-only pricing that makes our group so unique and successful, we need a project that’s big enough to bring our group buying power to bear. And so far, I haven’t found the right project or the right deal like that in Caminha or other surrounding towns in northern Portugal. But if I do (and I am looking), RETA members will be the first to hear about it.
In the absence of one of our RETA-grade deals, the best way to own here is to do what I’m doing…buy an older historic home in a prime location. Homes like this can be sensational value—about $90 per square foot!
We most likely won’t have an off-market deal in Caminha like our recent, but that’s not to say I won’t be showing RETA members how to own here. As I say, I’m working on a special online event to share what and how to buy in this part of northern Portugal as an individual investor. More on that soon…
Your Daily Dream Home
Växjö, Björnö, Sweden
This charming four-bedroom villa in Växjö, has more than 1,600 square feet of living space with an additional 300 square feet of ancillary area, and sits on a 7,400 square foot lot.
The two-story home has an open floor plan and includes six rooms in total. Situated between two lakes, it’s just minutes from both a swimming area and a small harbor.
The home is well insulated and has a wood-burning stove. Modern amenities include a kitchen, laminate and wooden flooring, and a covered patio. There’s also a large, attached garage.
Växjö is a city in southern Sweden, known for its beautiful lakes and forests. The surrounding countryside is characterized by dense woodlands, and numerous lakes, typical of the region.
Växjö has gained recognition for its commitment to environmental sustainability and is often called “The Greenest City in Europe.” It’s also known for its strong academic presence, home to Linnaeus University, named after Carl Linnaeus, the famous Swedish botanist who was born nearby.
