Today, I want to introduce you to Tony and Emma Bennett—members of my Real Estate Trend Alert (RETA) group who have bought in the town of Caminha in northern Portugal.
Tony and Emma discovered this town through my team’s scouting reports and after reading about my experiences buying a historic villa here.
Now they own their own home right in the center of Caminha.
And the deal they found? Let’s just say they effectively got two properties for the price of one.
Their journey to this home is fascinating, so my team asked if they would share it. And they graciously agreed.
You’ll hear it directly from them below…
Wishing you good real estate investing,
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Why We Bought a Historic Home in Caminha
By Tony and Emma Bennett, RETA members
If you’d told us a few years ago we’d own a historic house in a small medieval Portuguese town—one that literally backs onto the wall of a 15th-century church—we might not have believed you.
But already this property is shaping up to be an incredible investment. It’s been cashflow positive from the moment we bought it. We have clear renovation plans that should lift the income even further. And it’s a place our family will use for years.
A huge part of how we ended up owning here is because of Ronan’s scouting.
The 15th-century Igreja Matriz de Caminha church sits just back from the river in Caminha, behind the remnant of the town’s stone walls. Tony and Emma’s historic home is located by the church.
The first time we drove into Caminha, we knew it was somewhere special.
We’d come up the coast road through a sweep of towering pine forest—and then suddenly the view opened up to the river, the beaches, and the town sitting between the water and hills. Even before reaching the town center, there was a sense of calm, of history and of a place that sits comfortably in its surroundings.
When you step into Caminha, you feel its history and character—the stone lanes, the tiled façades, the 13th-century clocktower, the church standing watch over the river.
This is a place that’s genuinely, unmistakably Portuguese. Not polished into something generic. Not overwhelmed by tourism. Just authentic, lived-in charm.
Caminha sits right on Portugal’s northern border with Spain. This town offers incredible value compared to popular coastal destinations to the south.
This struck us even more because we’ve spent so much time in the Algarve. We’ve loved our time there—but many of the big resort towns there now feel like they could be anywhere in the world. Caminha is the opposite. It’s rooted. Distinct. You know exactly where you are the moment you arrive.
We probably wouldn’t have looked this far north if it weren’t for Ronan.
When he started talking about Caminha—and then actually bought a place here himself—that made us pay attention.
We’d already been thinking about a new European base. Our permanent home is just south of the Gold Coast in Australia. For a European base, we wanted somewhere with surf and a great cultural lifestyle, but with real long-term upside. Ronan’s scouting nudged us to zoom in, study the area, and start digging.
Once we did, Caminha hooked us completely.
The 13th-century Torre do Relogio clocktower is one of the many medieval structures you’ll see scattered throughout Caminha.
The river, the ocean, the beaches, Spain just across the water…the sense of a beautiful town quietly waking up…houses being restored…cranes suddenly appearing where nothing had moved for years. It was exactly the kind of place we’d hoped to find.
That’s what set us on the path to the home we eventually bought—a property we first “walked” past on Google Street View long before we ever saw it in person.
Once something matters, we go deep. Night after night back in Australia, we’d pored over Caminha listings while tracing every street in town virtually. By the time we finally arrived in person, we already knew which roads curved toward the river, which ones led to the square, which buildings had been renovated, and which still whispered of their past lives.
One property kept pulling us back.
The lagoon beach and Atlantic beaches at the river mouth in Caminha. Just across the water is Spain.
This home sits tucked beside the church—the same church whose bells have echoed across the river for centuries. From the front door, you’re steps from the square and the cafés. From the back, you’re literally connected to some of the town’s oldest walls. Inside, it held a quiet promise: two separate levels, already laid out like individual apartments.
When we first saw it online, it was listed at €235,000. Before we could move, it disappeared. We switched focus to a property in Ponte de Lima—another gorgeous northern Portuguese town Ronan had pointed to in his scouting. But in the due diligence process, we uncovered some concerns with that Ponte de Lima home.
Then the Caminha house came back onto the market at a higher price—€335,000. Clearly a flip attempt.
We reached out to the seller and started negotiating, something you can still do in this part of Portugal. After some back and forth, we settled on a price of €295,000. Even at that price, it was a steal. A historic home in a location like that, in a town on the rise—that’s value all day long.
Caminha’s narrow cobbled streets are lined with bars, restaurants and cafés.
One of the big appeals for us with this Caminha home is that it’s effectively two apartments disguised as a single legal unit. Upstairs and downstairs each have their own door, kitchen, and living space. But on the municipal books, it counted as one dwelling.
We contacted the same engineer Ronan used for his home. After he checked the structure and plans, and after conferring with our attorney, we learned we could legally split the property into two independent apartments. Overnight, we went from having one asset in a rising market…to two.
We’ve essentially gotten two apartments in Caminha for €147,500 each.
So even before renovating, the value case has increased. And once it’s fully renovated, the flexibility is enormous: keep both, rent both, sell one, or someday pass one to each of the kids.
Tony and Emma in Caminha…
For now, we’ve rented out both apartments long-term. Next year, once the leases end, we’ll begin renovations with the same engineer and architectural team Ronan used with his house. We’re considering opening the attic into a loft, raising ceilings, maybe even exploring a rooftop element if the council allows it. The house has room to breathe if you know where to look.
And the numbers already work. With a mortgage under €1,000 a month and total rent of around €1,400, the property pays for itself—without us lifting a hammer. Being cashflow positive from day one has given us the breathing room to think long-term about what we’ll do with the place.
But the financials, as good as they are, were never the only reason.
We wanted a new base in Europe—somewhere the kids could come for summers, somewhere we could surf, wander old streets, and feel part of a community.
Caminha offers all of that.
It’s that combination that hooked us: the beauty, the authenticity, the lifestyle…and the unmistakable feeling that the town is really beginning to move. Every time we’ve stood outside the front door, looking at the history and majesty of this place, we’ve known we’ve made the right call.
Ronan says: Congratulations, Tony and Emma! I’m delighted that scouting by my RETA team and I was helpful in pointing you to Caminha. And I’m thrilled you secured this property.
Caminha is a town that’s just beginning its upward curve. This is a destination that’s only going to strengthen from here—more restoration, more interest, more demand.
I expect my own home here—a 5,000-square-foot historic villa just outside of town—will be worth €1 million within five years. That’s more than double the €410,000 my wife and I paid for it in late 2024.
