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Paraguay It Is

Kathleen Peddicord by Kathleen Peddicord
Aug 25, 2008
in Paraguay
0
A view of Asuncion, Paraguay along the Paraguay river.
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Paraguay Is The World’s Cheapest Country

If I could get on a plane today and go anywhere in the world I wanted…with nobody else’s agenda to consider but my own…I might just head way down south to Paraguay. It’s at the top of my “Places I Haven’t Been But Want To Visit” list.

So imagine my delight to find this e-mail in my in-box this morning from my ever-roving friend Paul Terhorst:

“Paraguay it is,” Paul wrote.

“A recent survey concludes that Paraguay is the world’s cheapest country.

“The survey measured living costs for high-living expat execs, not retirees. Those execs have children in private schools, for example, and imported cars with chauffeurs. They have different cost structures than retirees. Still, the numbers called out.

“Paraguay is one of my favorite countries, but it’s been a while since we were last there. I e-mailed my friend George, who lives in Paraguay’s capital, Asuncion, and asked for a quick rundown.

“George says a foreigner can legally own property in Paraguay. All you need is a passport and an address. If you buy property in your own name, among other costs, you pay a 1.5% value-added tax; if you take title in a corporate name, that tax goes to 18%.

“A reasonable house for a retiree in a good neighborhood in Asuncion might sell for US$120,000. Apartments in the same or a similar neighborhood, because so few apartments come on the market, might sell for $160,000.

“You could rent a house in Asuncion–two or three bedrooms, yard, patio, swimming pool, garage–starting at $700 a month. That can go up to as much as $3,000 a month for super places. Apartments cost more, again, because there are so few of them, starting at $1,000 and up–way up.

“Vicki and I have visited Asuncion and other cities in Paraguay perhaps a dozen times. We lived in neighboring Argentina for years and traveled to all the Southern Cone countries–Uruguay, Argentina, and Chile, as well as Paraguay. Compared with the others, Paraguay enjoys excellent housing stock. Even the middle class seem to have large, comfortable houses with spacious grounds.

“Why do I like Paraguay so much? Downtown Asuncion, although a bit rundown, has colonial charm, with the huge Paraguay River running alongside. Bars in Asuncion welcome you with wooden bar stools, snacks on the counter, and old-fashioned mirrors. Stop in at one, and the barman greets you with a friendly smile.

“Outlying neighborhoods appear comfortable and spiffy, with “the club” (foreigners welcome) around the corner or down the street. City and suburban buses and taxis make getting around a snap.

“Interior cities remain a Wild West. At the central market in Concepcion, Paraguay’s second-largest city, I saw a sign saying (in Spanish), ‘Don’t tie oxen here.’

“Some complain about Paraguay’s heat, especially in the peak summer months of January and February. I’ve never been bothered by it or found it any more oppressive than summer in the other Southern Cone capitals. But if you can’t stand the heat, get out–that is, head somewhere else during the hot months.

“If you go, stay at the old Gran Hotel Paraguay, less than a hundred bucks a night and set in one of the neighborhoods you might want to live in. The Gran has a 1930s feel to it, and the German/Paraguayan owners keep it immaculately clean. Ask for a room in the older wing, facing a large, Spanish-style courtyard. The restaurant is fit for a palace.

“Americans now need a visa to visit Paraguay, by the way. Pick one up before you travel, or go to the Paraguayan consulate in Buenos Aires with your ticket, pictures, money–the usual hassle…”

Much obliged, Paul. My travel plan is made. All I need now is a few free days…

Kathleen Peddicord

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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