Most important advice: take your time! You can stay in affordable and beautiful places until you find the right long term rental in Paraguay. The process of finding a cheap and lovely flat, house or apartment in Paraguay is straightforward but still challenging.
Let’s try to find something for you online and let’s compare it with the real reachable real estate rental fees in Paraguay.
Where to find apartments to rent in Paraguay?
Personally, Facebook Marketplace offered me the best options to rent for the long term in Paraguay. However, the most popular online portals are:
And you can directly contact agencies, like RE/MAX and let them find the right place for you.
Can you find the best real estate rent options through online portals in Paraguay?
No. The best way is to take your time, meet and ask local people and they will offer you much better options. The last time, I was looking for a T2 (two bedrooms) house or flat in Asunción. The average rental for a decent and more or less furnished home is 4,000,000 PYG (Paraguay Guaraní, around 630 USD) for the long term. For this amount, I could find small and not that nice flats in the centre, or small but beautiful houses with pool in barrios like Lambaré or Luque. And with the crazy traffic jams of Asunción, I had to stay closer to the centre. Finally, I met a charming old lady through a friendly agent, who offered a small house in her backyard with a pool for 2,500,000 guaranís. When we arrived at the notary, she liked me so much that she decreased the price to 2,000,000 guaranís (around 320 USD) and did not ask for any deposit. It sounds good, isn’t it? Now, the minimum salary in Paraguay is more or less 2,2 million guaranís, so we suppose that the previous family, who lived there paid a maximum of one million guaranís.
How much is the commission of a real estate agent in Paraguay?
I worked with three outstanding real estate agents, they all asked one month of the rental fee as a commission, luckily the lessor pays half of it and the owner the other half.
Do I need a “guarantor” to rent a house in Paraguay?
It can be helpful. If you don’t know the owner of your future home, he or she can ask for a “garantor”, which is a well-known person, lawyer or friend, employer to guarantee that you will pay. It’s a common practice in all Latin countries.
Where can you stay until you find a right and cheap place to rent in Paraguay?
Short-term rental is affordable in Paraguay. For example, in Asunción, you can find hostels, bed and breakfasts from 8 USD/night with pool, air-condition, and wifi. You may use Airbnb, Booking, even Home away, to find something for a short term waiting period for the right long term rental.
It is good to know that in Paraguay, real estate prices are booming. My local Paraguayan investor contacts try to sell me lands and residential real estates for ridiculous amounts of money. Don’t buy that and spend a lot of money. Believe me; if you have cash in dollars or euros, you will find some excellent opportunity to invest. And the cost will be not even close to the price you see online.
Average rental price rates in Asunción
A flat in the centre to rent is app 1,5 – 3 million guaranís per months. You can buy a flat in Asunción’s beautiful old town for approximately 300 million guaranís.
To rent an apartment in the residential neighbourhoods of Barrio Recoleta, Barrio León Condou, Barrio San Vicente, Barrio Herrera, Barrio Jara will cost you between 3 to 5 million guaranís. You can find a lovely house in these neighbourhoods between 3 and 7 million PYG (big garden, lots of huge rooms, pool, bbq, garage).
A short step by step real estate rent guide in Paraguay:
- Find the residential real estate to rent
- Go to the notary and sign the contract
- Change the address and get your new Vida y Residencia certificate
How can you pay the utility bills in Paraguay?
Usually, it will be a mess. The owners almost never let you sign the contracts for the utilities, and in average cases, there will be more families or real estates sharing the same land under one water or electricity account it means one bill for several people. Good luck with that.
Address in Paraguay – Do you need an address in Paraguay?
So, if you are a permanent resident or you want to become a tax resident in Paraguay, you need an address during the process. The tricky issue is that in Paraguay, not the ID card but only the certificate of “Vida y Residencia” includes your address. If you want to change the address in your foreign bank, you will need that document. Now, what happens is that during the process, mostly your lawyer or fixer will provide you with an address. But that address is not a residential address, only a mailing address, which will serve until the end of your immigration process. Moreover, the Vida y Residencia certificate is valid just for six months. We provide physical addresses in Paraguay, contact me if you are a non-resident permanent resident and need one or you want to start your process to become a tax and permanent resident in Paraguay.
How can you get the proof of address in Paraguay?
The Vida y Residencia certificate is the proof of your address. You will need first of all fill an official form. You will need two testimonies, who live in the same neighbourhood. They also have to sign the application form and add a copy of their ID cards. You will need a new Interpol certificate as well. Then you go to the nearest police station and apply for the new Vida y Residencia.
Buy or rent real estate in Paraguay?
Of course, I will write about buying land, flat, apartment or house in Paraguay. I believe that it worth to buy anything in Paraguay but as we have a speculative bubble on the market, it is better to take a closer look before you invest. It is just crazy how landowners try to sell their land for at least five times overvalued. Naturally, they don’t sell at all. Another interesting issue is that you can hardly buy a small property (except the cities) because the lands are enormous. However, you can find exotic and beautiful places.
Do you want to live in Paraguay? Did you know that you can become a permanent resident and later a citizen of Paraguay?
We are a registered, legal immigration service provider consultancy in Asunción, click here to set up a consultation!