The Republic of Paraguay is centrally located in South America and it is a land-locked country. Due to its central location, it is called as Heart of America. Spanish and Guarani are the official languages, with majority of the population being mestizos. The capital of Paraguay is Asuncion. Paraguay is classified as a developing country. Poverty index is much lower than other South American countries at 14.2% in 2007. Still, the capital city, Asuncion had been ranked continuously for 5 years as the least expensive city in the world.
The major disadvantage faced by Paraguay real estate listings and Paraguay rentals had been the lack of knowledge among international real estate investors about the potential of the properties in that country. Even though the economic development had been slow, Paraguay had not been in the headlines due to the calm atmosphere prevailing in the country. It had also not gained any significant reputation as a tourist destination. Hence, only those foreign investors, who like peaceful country, warm weather, healthy environment, and low prices, had been investing in Paraguay. Otherwise, its real estate potential had remained obscured.
Paraguay real estate prices, particularly the residential prices, had been remaining steady, in spite of global economic upheavals. The low prices are applicable not only to real estate in Paraguay but also to construction and labor costs. For example, an apartment of 100 sq. m. area costs around $40,000. Even in the rich neighborhoods of the capital city of Asuncion, the houses cost between $500 and $600 per sq. m. In the western region of Paraguay, large tracts of farmland having fertile soil could be bought for $100 per hectare. The land parcels are usually 4,000 hectares or more. This kind of low prices had somehow gone unnoticed by international real estate investors. Further, income taxes in Paraguay are 10% and VAT is also 10% only. These rates are among the lowest in the region. Still, foreign investors must exercise due diligence on each Paraguay real estate for sale or Paraguay rentals, due to the rampant corruption in the country. Property titles could be unreliable. It is advisable to engage the services of a Paraguay notary to find out the genuineness of the clear title of the seller to the Paraguay real estate. If this procedure is followed, Paraguay offers substantial benefits and profits to international real estate investors even within 3 to 5 years.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the worldwide leader in Paraguay real estate listings , Paraguay real estate for sale, and Paraguay real estate . Paraguay real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.