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basic advice for those considering buying property in Paraguay

Last activity 16 August 2013 by paulopereirra

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barrister_py

Hello everyone,
I just wanted to post some basic advice for those seeking real estate investing opportunities in Paraguay.

First of all, the economic conditions in the country are getting better and better so prices are increasing on year and year basis.  The GDP growth for 2010 was 15,3% and forecast 6,7% up for 2011.

So, there might be some deals around with "old" prices, but you need to look carefully better start online in classified adds:

clasificados.abc.com.py

clasipar.com

ABC Color also has listing for bussiness and investment opportunities in Miscelaneous section (varios)

clasificados.abc.com.py 

The best is to focus on some areas and carry out further research.

VERY IMPORTANT:
You can save time, effort and even money by requesting the buyer of:
a) urban land: the CUENTA CORRIENTE CATASTRAL, DISTRITO, DEPARTAMENTO

b)rural estates: NUMERO DE FINCA, DISTRITO, DEPARTAMENTO

And then go online:
http://www.hacienda.gov.py/web-catastro/index.php?c=222

Where you can check the actual owner at the Direccion General de Catastros (Land Registry).  So if the "owner" is not listed as owner it might be the case that either the property is pending of deed or others that would requiere extra money in terms of lawyer costs, frustation and even risk of fraudulent transaction.

Well, that's it and good luck!

9thWave

Magnifico, gracias!

brucegallo

what area  would farmland at a reasonable price be bought . looking not to be too far off the beaten path . a small house and worker quarters are a must

Jfinestra

Cordillera area is a very good area, some photos: fotopaises.com/foto/Paraguay/Cerro_Caacupe_Departamento_de_Cordillera_/219156.html

skyscrapercity.com/showthread.php?p=74641019: WATCH salto 7 caidas

viajeros.com/fotos/de-paraguay/635029

brucegallo

anybody out there reply in english? have to brush up on my spanish

cheshire

Just a small point - best check the level of the land before buying. We went to look at some land in ypane and it looked really nice.
We were almost ready to buy but decided to have another look after a couple of days of heavy rain. It had turned into a marsh!....then we noticed other houses in the area all had high foundations and the tarmac road was built up above the rest of the surrounding land. Pretty obvious pointers I now realise, but not if you don't know what to look for.
You can still build on low lying land but it's extra expense for foundations and irrigation, and you still may end up with a rather soggy garden after heavy rain.

Nic'oPY

This is a article I wrote I don't know how many months ago with the idea as getting it published as a Guide.For some reason it wasn't good enough.

@Victoria, sorry but my opinion of you is that your a person that sits in some-kind of first-world country and only complain about your own Gov. that's not thinking enough for you...

@Julian, sorry, but you didn't keep your word, so I've decided not to keep mine either.I've already told you, to get rid of me you'll have to ban me.

Now let's get down to business, Capelo's article is excellent and I don't know if mine's gonna ad anything new, but I want it published and out of my head, so hear it goes, the EDITED and NOT-EDITED  versions put together!


                     

******************




If there's something that wanna make me take a gun sometimes to shoot certain people its this hole thing about property selling/buying...

A man once told me:”Anything's worth is that what the seller wants and the buyer prepared is to pay”

Now that may be true, but knowingly using the ignorance of some other human-being to make a 50%-2000% profit just doesn't go too well for me. Its stealing, nothing less.


Paraguay was hidden from much of the world until 20 years ago. The only one's brave/crazy enough to come before that was basically Germans and Mennonites.

Over the years since Stroessner's downfall from various nations some have come to try and find their peace of paradise but never in force up-to this day. Germans yes, they just keep coming and Paraguay isn't in the Top 5 for preferred destinations for them...

So back to topic. It didn't take long for some to see the the chance of making unprecedented earnings, which started about 10-12 years ago and since then the hole thing has just escalated (and still is) so as to now, in the hole East-Paraguay cheap land is piratically no more. The Chaco (West and rest of Paraguay) being the notable exception, but then the word “Chaco” doesn't mean “Green Hell” for nothing. One don't go for pleasure or retirement to the Chaco. But even in the Chaco cheap-cheap land is no more. The day's of $2 per Ha. is long gone, but that's more due to the explosion of cattle farming for meat export.

I would venture to say that in the east one would not be able to get a Ha. for less than $2000 anymore (permitting its not in some hell-hole or on the fringe of the world) and $2000 would be cheap.

My advice to anyone that wishes to come to Paraguay is -of-course come and look first- not to buy any property at first glance. Come but rent something first. Then when you're settled start that search for your peace of paradise. Be-wary of (and I say this with a sad heart) middlemen especially expat-middlemen, use a surveyor  to measure the land so as to be certain the borders are where they are supposed to be, and make sure you use a good and trusted notoriety!

Julien

Sorry Nic'oPY the Team and I have been overworking these last weeks (we passed from 2 to 8), I'll find and publish your article right now.

By the way I can't see why I would "get rid of you"? You're a great help for people who want to move to Paraguay and I appreciate it !

Julien

Nic'oPY's article:Buying land in Paraguay

paulopereirra

Thanks for inputs guys.

I wonders if in terms of a situation "flip that house" one needs a permit to restore a real estate property ?
By the way, does one requires a permit to build a pool ?

thanks for insights.

Paulo

majbjb

Not sure about "permits" for renovations or adding a pool.  But you do need to check with the municipality of where ever the property or house is located to see what they have "registered" in terms of anything built on the property. 

This is becuase the tax basis for the property is based on the approved architects plans that are on file.  And every so often the municipality may actually compare what they have on file with what is actually on the property.  This often happens if some official notices renovations or new building going on.  Or it could happen as part of a re-occurring review process.  This  of course is due to the desire of each municipality to increase the tax that can be collected.  And it apparently is great sport in Paraguay for builders or home owners to cheat the system at every opportunity.

So if you renovate or add something, you will need to get the drawings updated that are on file, and of course end up paying more tax and filing fee's, etc....!  As we discovered, it is really, REALLY important to have an attorney or maybe even a notary, check on what is on file for a property your planning on purchasing prior to purchasing a property.  Becuase if it's not up do date, it will be YOUR problem once you own the property!  Not a happy thing to discover for sure

paulopereirra

Thanks Brand,

precious information.
Always nice to exchange with users that have been involved on this situations, have first hand experience and lead me on the right path.

On the French section on this website, i was able to exchange some precious information towards building permits,tax inherents questions, property description on legal papers and how its always a bad idea to change the habitable surface with no permit.

https://www.expat.com/forum/viewtopic.php?id=93891

Very precious inputs towards a possible restauration, legal implications, that is a bit similar to things here in Portugal. Back here we have an exception, all buildings prior to 1951 do not need to have plans ( and can be traded as is ). If you decide to change the façade or try to change the surface, one will be forced to present an arquitectural projects before the autorities ( tax evaluation raises ).

I assume in a near future, building regulations in PY will only increase ( global trend ) . Have property taxes been raising on the past years ?

On the event i plan to pursue this lead if faced to an interesting proposition, will search for a legal backup .

Thanks again !


Paulo
Portugal
-----------------

AquaMan007

I may be a little late for your answer...

Yes, a permit is generally required verifying all the sub contractors and builder are registered and qualified for their professions.

But in some distant areas away from big cities they might not enforce that code.

Always check with the city your building in.

I had to investigate this for my business is why I know.
Love to help you out if your down there now and need assistance.
I do a lot of contract work for home builders in the U.S. as well.
I should be leaving the U.S. in the next month or two to test the waters in Paraguay.

Sorry for bad news....it's that way everywhere.

paulopereirra

bit out of date.
Gud luck in your prospection aquaman

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