My Top 3 International Real Estate Markets for 2025

When you look everywhere, you’ll always find opportunity somewhere.

That’s the beauty of being an international real estate scout, and something I learned years ago when I first started out on my overseas adventures.

My name is Ronan McMahon, and I’ve been a real estate scout and investor for over two decades.

My job is to seek out the markets and the destinations where an investor can get in while prices offer amazing value and then profit as prices rise. I seek out that kind of opportunity in countries all over the world—in Europe, Latin America, and Asia.

Over the years, I’ve personally invested in dozens of properties across seven countries—Mexico (Pacific and Caribbean coasts), Costa Rica, Panama, Dominican Republic, Brazil, the U.K., and Ireland.

One of the great benefits of being an international real estate scout is that it gives me the chance to base myself in some of those properties around the world.

I spend time every winter at my condo in Cabo, Mexico. When spring rolls around in the Northern Hemisphere, I fly across the Atlantic Ocean to spend time in Portugal and my native Ireland.

I want bright sunshine…and to be in beautiful places close to international airports.

I organize my life around bases primarily in Cabo, Ireland, and Portugal.

In Cabo, you have the deep-blue ocean…long, pristine golden-sand beaches…a dramatic, rugged coastline… And then set back from it all are rolling desert landscapes, with towering cactuses and endemic elephant trees.

Few settings are more instantly captivating.

Although I’m always sad to leave Cabo, when it gets warm enough for air conditioning, it’s time for me to move on.

That’s when I head to Ireland, where I enjoy the summer in my homeland…May to September are the best months to experience all that Ireland has to offer. The evenings are long and bright. I love being able to tee off at 7 p.m. for nine holes of golf with friends and neighbors. At the height of summer here, there’ll still be light past 10.30 p.m.

I also spend time at my oceanfront condo on Portugal’s Silver Coast and in my home in the booming, vibrant city of Guadalajara, Mexico. And very soon, my recently purchased historic mansion in the town of Camina, in northern Portugal, will join the mix.

Not only has international real estate investing given me the independence to spend time in the places I love, but it’s also given me financial independence.

Since I rent out some of my properties, I have income streams right across the world, which means I live free of the stresses of traffic, commutes, bosses, politics…

Back when I started scouting for real estate opportunities over two decades ago, I was a one-man show, but today I have a team of scouts who regularly fan out across the globe in search of the best-value real estate.

Scouting is an important part of what we do, and it’s why we spend over $1 million a year on travel and research.

There’s a lot that goes into making those recommendations, much more than simply finding an attractive property or one with a low price tag. When I seek out a deal, it has to stack up against a strict list of criteria before I even consider it. If it doesn’t, I walk away.

Because there’s no magic trick to finding profitable real estate opportunities…

It takes resources, it takes a network of contacts, and it takes vast amounts of boots-on-the-ground research. Over the years, I’ve built up a Rolodex of trusted contacts, which include developers, attorneys, and local real estate contacts.

My team and I do all this research and scouting so you don’t have to…

And this special report—My Top 3 International Real Estate Markets for 2025—is designed to be the perfect place for you to start your research for finding the overseas real estate opportunities that are right for you.

From the Caribbean coast of Mexico to the historic seaside towns in Portugal, my team and I have dug deep to find places where savvy real estate investors like us can unlock untold opportunities this year (and beyond).

Whether you’re a complete beginner or an investor with some real estate experience under your belt, finding the right place to buy real estate is the first step in what could be a life-changing journey.

It’s also an opportunity to re-examine your lifestyle and think about how and where you want to live.

These are my gold-star locations, and the ones where I consistently find the best deals in terms of profit and pleasure.

Read on for my list of my top 3 best places to buy in 2025…

Wishing you good real estate investing,

Ronan McMahon

Founder, Your Overseas Dream Home & Real Estate Trend Alert

What Makes a Place Good for Real Estate Investing?

When you Google the best places in the world to buy real estate, more often than not, you’ll get a generic and entirely predictable list of the world’s most expensive destinations.

Think New York…Tokyo…Paris…London…

Not only are these lists uninformative, I believe they are wholly inaccurate.

Prices for best-in-class real estate in global cities like London and New York are often enormous. And that’s before you consider the massive holding costs due to things like high property taxes and homeowners association fees.

Moreover, because these are highly developed markets, the potential to generate rapid capital appreciation and strong rental yields is typically limited.

In other words, most “best of” lists equate best with most expensive…and therefore fail to answer the question.

So, before we go any further, let me explain how I compiled my list and what I mean by “best”…

To select my top destinations in the world to buy real estate for 2025, I considered places that excel in one or more of the following categories:

Relative Value: This can be summarized as “bang for your buck,” or what does your money buy you in this market relative to back home. Most destinations listed here offer excellent value when compared to major markets in the U.S. and Canada. In some, the value is truly exceptional.

Climate: Weather preferences are subjective. Some of us love to experience four seasons every year, while others prefer a climate that remains hot year-round. For this report, higher-scoring destinations are warm and sunny, but not humid. We also made allowances for destinations with temperate climates, since they’re growing in popularity.

International Appeal: This category is a measure of how well-known and popular a destination is with foreign tourists, expats, and the work-from-anywhere, digital nomad crowd. This category also considers how internationalized a market is, covering such factors as flight connections, internet connectivity, and whether visas are required to stay short or long-term, and how easy they are to obtain. Most of the destinations in this report scored highly in this category.

Path of Progress Indicator: A “Path of Progress” is anything that makes a place easier to get to (like new roads, airports, or bridges) or more desirable (say, a 5-star resort in a place that previously only had cheap hostels). It can also indicate an influx of people to a destination and the resulting rejuvenation of that place, as we’re seeing in the far north of Portugal. If a Path of Progress is moving toward or through a market, it’s a strong indicator of future growth potential. Buy at the right point in a Path of Progress and you’ll do very well.

Income Potential: This is the amount you can expect to earn from renting out a property short or long-term, relative to the amount invested.

Quality of Life: This category considers the availability of dining, shopping, transportation, healthcare, and entertainment options. Also factored in are natural attractions such as beaches and hiking trails, as well as the public infrastructure. For instance, are public spaces and facilities safe, visually appealing, and well-maintained?

Ease and Cost of Transaction: This measures how difficult, time-consuming, and expensive the process of purchasing a property is for overseas buyers.

Stability: This covers political, economic, and social risk. Is the political environment stable, and is it likely to remain so? Is the economy strengthening or weakening? Are crime, corruption, or fraud prevalent?

Availability of Finance: This considers whether it is possible for foreign buyers to borrow against their purchase, and if so, how difficult accessing this credit is, and how favorable the terms are.

Holding Costs: This judges all the costs associated with owning a property in this destination such as local or national property taxes, typical insurance prices, and common ranges for homeowners association fees. For instance, my property tax bill for my new home in Portugal—a 5,000-square-foot historic mansion—will be no more than €320 per year.

I’ve applied these criteria to destinations across my global beat.

My goal: To identify places where you’ll find excellent value and incredible weather and attractions…yet can still earn a lot of money from owning there, in terms of rapid capital appreciation, strong rental income, or both.

My Top 3 Places to Buy Real Estate in 2025

Let’s get down to business and take a look at my top 3 places for international real estate markets in the world right now.

Over a number of years I’ve visited these places multiple times (in fact, one of these locations is now where I spend a significant amount of time each year) …I’ve cultivated relationships with on-the-ground contacts, and I’ve sought out the best real estate opportunities that I share with members of my Real Estate Trend Alert (RETA) group. (This is a small but savvy group of investors who want to maximize their profit potential when buying overseas real estate. I send them details of the best deals I find as well as market analyses and insider tips, directly to their inbox. And, they get special members-only pricing and terms on the deals I recommend. You’ll find more information about RETA at the end of this report.)

But most importantly, these are also places where I have personally invested. You could say, I’ve put my money where my mouth is…

So, we’ll start with number 3…

No. 3: Los Cabos, Mexico

Set at the base of the Baja California peninsula, Los Cabos is a thriving boom town of 350,000 people.

This is one of the world’s most popular and desirable destinations. You have the natural beauty of the desert and mountains meeting the sea in dramatic fashion, the perpetually sunny weather, and the stunning beaches. Then, lining its shores are luxury resorts and residential communities, world-class golf courses, glistening marinas, high-end malls, and fine-dining restaurants.

Since the pandemic, Cabo has seen a massive influx of people. In 2024, it welcomed a record 3.93 million visitors. Crucially, many of those who are coming are staying longer—for months or even to live permanently.

The kinds of folks coming to Cabo have also been changing…

While Cabo has long been a haven of celebrities and the ultra-wealthy, more recently it has evolved to also attract what I call the “ordinary rich”…think well-heeled vacationers, executives with work-from-anywhere jobs, wealthy snowbirds, and self-made entrepreneurs. This group doesn’t want to pay millions for homes or thousands per night for a hotel stay, but they want incredible amenities in perfect locations. The arrival of this group has led to a big explosion in demand for good-value real estate in amenity-rich communities in Cabo.

Cabo is my winter retreat. It’s where I come to re-energize and plan for the year ahead. I love the laidback vibe…the natural beauty of the desert and mountains meeting the sea in dramatic fashion…the perpetually sunny weather…

I’ve personally invested in six properties here. I live and breathe this real estate market like almost no other, and I’ve observed first-hand as Cabo has hit a whole new level. There are all sorts of restrictions on building here, yet people just keep coming to stay and to live.

The first off-market deal in Cabo that I brought to members of RETA was in 2015 in the 5-star Quivira resort. The RETA-only price on a two-bed ocean-view condo in the best-in-class Copala community was $336,156. I bought one. Earlier this year, I saw a listing for a similar condo in my building for $729,000. That’s $392,844 more than the RETA price.

And I know that every month I’m away, my Cabo condo earns me money.

Right now, I’m renting my Cabo condo for $3,000 per month to a longer-term renter who can work around my return dates. (That’s a 10.7% gross yield on an annualized basis.)

Like I said earlier, I own more real estate in Cabo than anywhere else in the world. That’s how bullish I am on Cabo and the Baja. The increase in values in the properties I have bought here runs well into seven figures.

Every year, as those visitor numbers increase, Cabo is seeing a scarcity of best-in-class real estate due to building restrictions, rising land costs, and the rarity of land with ocean views.

My RETA group has been ahead of this. A few success stories…

• $250,000 Boost: In August 2021, RETA members could get a penthouse in a community called Cabo Costa for $249,000. I got one. Today a penthouse in Cabo Costa lists for $499,000.

• $202,400 Uplift: In May 2022, we had our RETA-only deal at Monte Rocella with off-market pricing from $234,600 for two-bedroom, two-bath ocean-view condos. (I bought in Monte Rocella.) At the beginning of this year, I saw a pricelist showing a two-bed ocean view condo in Monte Rocella for $437,000.

Deals in Cabo that meet my criteria for a successful investment are scarce these days. But Cabo is a destination with immense potential for future growth. Prices have been rising so quickly that it’s important to be highly selective when buying real estate here…find just the right deal at just the right entry price. That is where the group buying power of my RETA is significant. It opens doors and gets deals and pricing that ordinary buyers never see.

From Cabo San Lucas to San José del Cabo, the Los Cabos tourist corridor is booming. With 20 miles of luxurious resorts, stunning beaches, and year-round perfect weather, there’s something for everyone.

No. 2: Cap Cana, Dominican Republic

I’ve long kept a close eye on the Dominican Republic. After Mexico’s Riviera Maya, this Caribbean destination gets the most tourists in the entire region. And just like Mexico’s Riviera Maya, this country is smashing tourist records.

In 2024, over 10 million passengers passed through Punta Cana airport—a 10.3% increase over 2023. A further 8% increase is expected in 2025.

Most of these arrivals go to Punta Cana, easily the country’s biggest destination.

Development is tearing ahead in the Punta Cana area now. And this is where you’ll find the vast master-planned coastal community of Cap Cana…

Cap Cana isn’t a town. It’s not a resort either. It’s something else entirely—carved from 30,000 acres to be the Monaco of the Caribbean.

It’s a luxury city state in the Caribbean…just a couple of hours flight-time from the east coast of the U.S.—the same time zone as Miami and New York.

It’s home to the largest inland marina in the Caribbean…world-class golf…mansions that sell for tens of millions of dollars…ultra-luxe resorts…one of the Caribbean’s finest equestrian facilities…the region’s largest water park…dozens of restaurants…a university…conference centers…an adventure park with cave exploration, ziplining, off-roading in buggies, and diving in the “blue hole”…

The lifestyle here is next-level, like a sort of Cabo in the Caribbean.

And Cap Cana is the Caribbean everyone wants to experience—a place where unparalleled luxury meets the natural splendor of an island paradise, where relaxed exclusivity is a way of life.

As well as people, investment is also flooding in. All the heavy hitters in luxury tourism are here…St. Regis has spent an estimated $220 million on a new resort in Cap Cana, which just recently opened.  In 2019, Hyatt opened Ziva and Zilara Cap Cana—a flagship double-resort build.

These two properties cater to the highest-spending segments of the family and adults-only markets. As of June 2025, starting nightly rates are: $899 and $631 per night, respectively.

And Cap Cana is a mere 10 minutes from the largest and most-connected airport in the Caribbean—on the most-visited Caribbean island there is. Punta Cana airport operates over 500 flights weekly, connecting to more than 90 airports across 26 countries.

Cap Cana has been in my international real estate radar for over a decade, and finally, last September I was able to bring RETA members the opportunity to own here.

And just like with that Quivira deal in 2014 that I told you about above, I bought alongside RETA members in Cap Cana last year.

It was the chance to own two-bed condos in a stunning community called Crystal Garden from $382,400.

I bought here for the gains—I figure on $275,000 five years after delivery. (In March, similar condos there were listed by the developer for $470,000. That’s an uplift of $87,600—a 22.9% increase—in five months!) 

I bought for the income opportunity…being silly conservative I expect gross yields of nearly 12% renting short term with plenty of time for personal use.

And I bought for the incredible lifestyle…

Cap Cana is a new city rising in the Caribbean. And for a limited time, there’s an incredible opportunity to own on the ground floor here…

My team shot this footage during one of our scouting trips to Cap Cana. Click to take a video tour of this incredible city-state…

No. 1: Caminha and the “Undiscovered North” of Portugal

The top-ranked destination to buy real estate in 2025 is the small town of Caminha in the far north of Portugal.

Over the past five to 10 years, Portugal has become one of the world’s most popular destinations for vacationers and expats. From Lisbon to the Algarve, from the Silver Coast to Porto, towns and cities across the country are inundated by tourists for long stretches of the year. Real estate prices in the best-known destinations have soared.

But head 30 minutes or so north of Porto, outside the reaches of its extended metropolitan area, and all that fades.

Here, in what I call the “undiscovered north,” you’ll find all the elements that make destinations to the south so appealing—incredible food…soft-sand beaches…rich history and culture. Plus, you have amazing, temperate weather.

But these destinations are virtually unknown to foreign tourists, expats, and second home owners. And because of this, real estate prices there are astonishingly low in comparison to popular coastal destinations to the south. 

I’ve been singing the praises of this region and regularly writing about it in RETA ever since I first scouted it in summer 2023.

Located at the mouth of the Minho River that separates Portugal from Spain, the picturesque town of Caminha has a long and rich history.

As you wander through Caminha, history surrounds you. You’ll pass the remnants of the medieval walls, the 15th-century Igreja Matriz, and the striking 13th-century Torre do Relógio, still keeping watch over the town square.

River-mouth towns like these were historically trading hubs and defensive outposts to protect the interior from raiders. Forts were built at these points, as were harbors. Around them sprang up towns that grew wealthy as Portugal became a vast empire in the Age of Discovery.

That historical wealth lingers in these towns today…in the ornate churches and grand buildings that occupy their Old Towns.

And yet despite this abundant history, Caminha today feels modern and upmarket. There are art galleries and boutique hotels, fine-dining restaurants and wine bars. Then just outside town, you have lagoon and Atlantic beaches, bucolic countryside, and excellent hiking.

And yet, this isn’t some forgotten relic of the past.

Over the past few decades, Caminha has undergone a quiet renaissance. Properties that once stood crumbling and neglected have been meticulously revived. Today, they’re home to elegant cafés, boutique hotels, galleries, and stylish eateries.

This is a town firmly on the up—and it shows.

One of Caminha’s biggest draws is its surroundings of natural beauty.

A sweeping riverfront boardwalk meanders along the banks, leading to a stunning sandbar beach at the river’s mouth. Just around the bend lies Camarido Beach, which opens onto a vast Atlantic vista. Behind it all, pine forests offer shaded walking trails and campgrounds. And across the river—just a stone’s throw away—is Spain.

It’s hard to imagine a more enchanting setting than this.

As I said, I’ve been shouting about this town for almost two years…

And I’ve put my money where my mouth is.

Late last year, I bought a historic mansion in this “undiscovered north.”

My new home is a 5,000-square-foot mansion a short drive from the center of the town of Caminha in Portugal’s far north.

This beautiful house overlooks the Minho River, offering incredible views of Spain just across the water.

From my garden—big, shaded and private, with lemon and avocado trees and vines crawling over trellises—I can look across glass-flat water to Spain. Pan to my left and I see waves crashing on a Spanish beach…pan a bit more and I see tides rippling onto a golden-sand Portuguese beach.

Inside, this historic home has been lovingly and meticulously restored…

The living rooms and the dining room have fabulous high ceilings and historic furniture and antiques (original pieces that came from Brazil with the first owners at the end of the 1800s). Upstairs, there are three large bedrooms. And on the top floor is a spacious attic that has a balcony with stunning views out to the river that I plan to use as my office. …

As I say, it spans around 5,000 square feet. I got it for around €410,000. That works out as €82 per square foot!

It would cost at least three times what I paid to build this home.

I’m not telling you all this to brag (though my wife and I are excited to take ownership, and stewardship of this incredible piece of Portuguese history).

I’m telling you because this demonstrates the insane value you can find in this part of Portugal.

My focus right now is on Caminha, but there are other destinations in this northern region that similarly have amazing potential, like Ponte de Lima, an upmarket town located inland along the River Lima in a stunning, verdant setting. There’s a greenness and abundance to this area that’s unlike anywhere else I’ve been…the flowers, the vines, the forest…

Or Viana do Castelo with its glistening white-washed buildings and red-tiled roofs that runs down to a modern waterfront on the north banks of the river mouth…

Or the wealthy enclave of Esposende, a historic coastal town its wide, palm tree-lined, seaside boulevard with a cycle track that leads to a stunning wind-swept Atlantic beach that’s overlooked by the 17th century Fort of São João Baptista and the towering red lighthouse that sits beside it.

Right now, this region is virtually unknown to foreign tourists, expats, and second home owners. And because of this, real estate prices there are astonishingly low in comparison to popular coastal destinations to the south.

To give you some examples…

• In the center of Caminha is this four-bed, three-bath apartment with a kitchen, sun room, and a laundry room. There’s river views from the top floor. The interior needs some modernisation but the listing price is €150,000.

• About a five-minute drive from the center of Caminha, there’s a three-bed apartment that has views over the River Minho and Spain. Its listed for €200,000. 

• About six miles outside of Ponto de Lima, is a two-bed villa with one bathroom, a fully equipped kitchen, and an independent annex. From the terrace there are views of the surrounding countryside. There’s also a ruined building on the property that has the potential to be renovated into more living space. Listing price is €198,500…

As well as the incredible real estate value this region offers, there’s another advantage to buying here.

Financing is readily available to non-resident foreign buyers in Portugal. For my new home in Caminha, I got a 25-year mortgage with a five-year fixed rate at just 2.9%. My annual property tax bill for this property will be no more than €320 per year…a tiny number for such a large property.

My team videographer Alan Kennedy shot this footage when he had boots on the ground in Caminha in 2024.