For decades, buyers looking at Baja California Sur focused on one place: Los Cabos. Luxury resorts, world-class marinas, and soaring property prices made it the center of attention.

But what happens when a market like Cabo matures?

In this episode, Ronan McMahon takes you just two hours north to a city he’s been quietly tracking for years—La Paz.

With turquoise waters, swimmable white-sand beaches, a revitalized waterfront, and a growing international airport, La Paz is beginning to attract a new wave of attention. And yet, real estate prices remain a fraction of what you’ll find in Cabo.

Ronan breaks down what’s happening on the ground, why accessibility has been the missing piece—and why that’s now changing fast. He also shares real property examples, rental yield potential, and what foreign buyers need to know about owning property in Mexico.

If you’re interested in where the next wave of opportunity could emerge in Baja… this is a place to watch.

Ronan pulls back the curtain on a destination that, by most measures, shouldn’t exist—at least not at this scale, and not at these prices.

Located just minutes from Punta Cana International Airport, Cap Cana is a fully master-planned luxury enclave spanning more than 30,000 acres—larger than Aruba and more than twice the size of Manhattan. Inside, you’ll find white sand beaches, a mega-yacht marina, championship golf, branded five-star resorts, and billions of dollars in infrastructure already in place.

But what makes Cap Cana especially compelling, in Ronan’s view, is not just what’s already there—it’s what’s coming next.

With tourism in the Dominican Republic hitting record highs and millions of visitors flowing through Punta Cana each year, Cap Cana is entering a new phase of growth. Major new investments are underway, including additional golf courses, commercial districts, medical infrastructure, and global institutional projects like FIFA’s regional development hub.

At the same time, pricing remains surprisingly accessible. Compared to established Caribbean luxury markets like the Cayman Islands, Turks and Caicos, or St. Barts—where comparable real estate can run into the millions—Cap Cana still offers entry points at a fraction of the cost.

Ronan shares why he personally chose to invest here, breaking down the specific type of property he targeted, the rental profile of the area, and how the controlled, master-planned nature of the community creates a unique dynamic: concentrated luxury that attracts affluent visitors, repeat renters, and long-term capital.

For Ronan, Cap Cana represents something rare—a large-scale, infrastructure-first destination where the fundamentals are already in place, but pricing has not yet fully caught up.

In This Episode

Ronan covers:

•  What makes Cap Cana fundamentally different from other Caribbean destinations 
•  Why scale and master planning create a unique investment dynamic 
•  The significance of Punta Cana International Airport and rising tourism numbers 
•  How over $3 billion in infrastructure has already been deployed 
•  The types of real estate available—from marina condos to ultra-luxury estates 
•  Why pricing remains low relative to comparable Caribbean markets 
•  Details on Ronan’s own investment near Juanillo Beach 
•  Rental demand drivers and the profile of high-end visitors to the area 
•  Why gross rental yields of 8–12% may be achievable in the right properties 
•  How new development and global investment could accelerate growth 
•  Why Cap Cana may follow a similar trajectory to destinations like Monaco 

Key Takeaway

Cap Cana combines something rarely found in global real estate: scale, infrastructure, accessibility, and luxury—all in one controlled environment—while still offering pricing that hasn’t fully caught up to its long-term potential.

Pull Quote

Portugal’s best-known markets may be mature—but along the northern coast, you can still buy ahead of the crowds.”

Portugal has become one of the world’s most desirable places to own real estate. Over the past decade, international buyers have poured into Lisbon, Porto, and the Algarve, pushing prices steadily higher and tightening supply in those markets.

But in this dispatch, Ronan explains why he believes the next wave of opportunity may lie far to the north, along a stretch of Atlantic coastline that most foreign buyers have never even heard of.

Broadcasting from Caminha, a historic river-and-ocean town near Portugal’s border with Spain, Ronan shares why he personally chose to buy here—and why he believes the region may be on the verge of being discovered.

Caminha sits where the Minho River meets the Atlantic Ocean, surrounded by mountains, forests, vineyards, and miles of pristine sandy beaches. Unlike the resort-heavy markets farther south, this region remains deeply authentic: quiet towns, preserved architecture, local culture, and communities where people live year-round rather than seasonal tourism hubs.

Ronan walks listeners through the fundamentals that attracted him here—from the town’s walkable historic center and strong lifestyle appeal to its natural beauty and strategic location just north of Porto.

He also explains why pricing still represents exceptional value. His own recently purchased historic villa—5,000 square feet overlooking the river and ocean—cost just €410,000, or roughly $90 per square foot, a fraction of what comparable coastal property costs elsewhere in Portugal.

While Caminha is still early in its tourism cycle, Ronan believes that is precisely what makes it attractive. The town is beginning to see more international visitors each year, and he expects the same discovery pattern that transformed markets farther south to eventually play out here as well.

For buyers who value authenticity, space, natural beauty, and long-term appreciation potential, Ronan believes Portugal’s northern coast deserves serious attention.

In This Episode

• Why Portugal has become one of the most sought-after real estate markets in Europe
• How Lisbon, Porto, and the Algarve have already matured as international buyer destinations
• Why Portugal’s northern Atlantic coast remains largely undiscovered
• What makes Caminha’s location unique—where river, ocean, mountains, and vineyards meet
• Why the town offers a rare mix of historic charm and livable year-round community
• Details on Ronan’s own historic villa purchase and pricing in the region
• Examples of homes and apartments currently available in Caminha
• How rental income works in a market that is still early in its tourism cycle
• Why northern Portugal may be entering its discovery phase

Key Takeaway

Portugal’s biggest real estate opportunities may no longer be in the markets everyone already knows. The next wave of upside could come from overlooked regions—places with the same natural beauty and lifestyle appeal, but still priced far below the country’s established hotspots.

For more than 20 years, Ronan McMahon has traveled the world searching for places where the real estate story is about to change.

Not the obvious markets. Not the headlines.
 But the places where infrastructure is arriving… demand is building… and prices haven’t caught up yet.

In The Ronan McMahon Report, Ronan shares what he and his team are seeing on the ground—emerging coastal towns, overlooked cities, and early-stage markets where the ingredients are quietly lining up for growth.

Each episode breaks down a destination through a practical, real-world lens: what’s happening locally, what it costs to buy today, how the market is evolving, and where the opportunity may lie.

This isn’t theory.
Ronan spends over $1 million a year traveling and researching markets across Europe, Latin America, the Caribbean, and beyond—walking streets, meeting developers, and tracking the patterns that signal change before the crowd arrives.

Whether you’re an investor, a first-time international buyer, or simply curious about where the next global hotspots might emerge… this podcast is designed to help you stay informed—and stay ahead.