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Rent in Paraguay can range from $200 to $800 per month for a one-bedroom apartment, depending on the location and quality of the accommodation.
Quick Facts
Housing Market Overview
The rental market in Paraguay is relatively affordable, with a wide range of options available to suit different budgets and preferences. Typical lease terms are for 6-12 months, and deposit requirements are usually equivalent to one or two months' rent. Tenant rights are protected by law, but it's essential to have a written contract and to understand the terms and conditions before signing. Compared to its regional neighbors, such as Argentina and Brazil, Paraguay's housing costs are relatively low, making it an attractive option for expats and tourists. However, the market can be somewhat informal, and it's not uncommon for landlords to prefer cash payments and short-term rentals.
The housing market in Paraguay is also influenced by the country's economic conditions, including the inflation rate and GDP per capita. With an inflation rate of 3.8% and a GDP per capita of $18,524, the country offers a relatively stable economic environment for renters and buyers. Additionally, the government's investment in education and healthcare, with 3.4% of GDP spent on education and $527 per capita on healthcare, contributes to a high standard of living and a growing demand for quality housing. The out-of-pocket health spend of 36.3% also highlights the need for affordable and accessible healthcare options, which can be a consideration for renters and buyers when choosing a neighborhood.
Apartment Rental Prices
| Apartment Type | City Center (USD/month) | Outside Center (USD/month) | Notes |
|---|---|---|---|
| Studio / Bedsitter | $300-$500 | $150-$300 | small, basic accommodation |
| 1 Bedroom | $400-$600 | $200-$400 | modern, furnished apartments |
| 2 Bedroom | $600-$900 | $300-$600 | family-size, comfortable apartments |
| 3 Bedroom | $900-$1,400 | $500-$900 | spacious, luxury apartments |
Property Purchase Prices
| Area Type | Price per sqm (USD) | Notes |
|---|---|---|
| City Center | $1,500-$3,000 | prime locations, modern buildings |
| Suburbs | $800-$1,500 | residential areas, family homes |
| Rural | $200-$500 | countryside, farmhouses or rural properties |
Best Neighborhoods for Expats
- Loma Grande: a popular neighborhood in Asuncion, with modern apartments and a range of amenities, rent range $400-$800 per month
- Villa Morra: a charming neighborhood with a mix of old and new buildings, rent range $300-$600 per month
- San Lorenzo: a residential neighborhood with a range of housing options, rent range $200-$500 per month
- Asuncion Center: the heart of the city, with a range of accommodation options, rent range $500-$1,200 per month
- Fernando de la Mora: a suburb of Asuncion, with a range of modern apartments and houses, rent range $300-$700 per month
Renter Tips for Paraguay
- Research neighborhoods and local prices to find the best value for your budget
- Work with a reputable real estate agent or property manager to find a reliable landlord
- Be prepared to negotiate the rent and terms of the lease
- Be wary of scams and always inspect the property before signing a contract
- Utilities such as water, electricity, and gas are usually not included in the rent, so factor these costs into your budget
- Furnished apartments are not always available, so be prepared to purchase or rent furniture if necessary