The cost of living in Paraguay is extremely low, although rising fast. It’s a country where ethnic Europeans and the indigenous population live in harmony. It is the only South American country where the local indigenous language, for example, is still widely used and respected. It is also the only South American country with no taxes on foreign income.
Also considered one of the most profitable destinations to live in Latin America, and this has to do with its cost of living. Product prices, studies remark, are among the lowest in the region, as pointed by the national press. Analysts considered that basic provisions go as low as 30% less that other countries on the continent. The food is among the cheapest for Latin America. These include lowest prices for meat, bread, rice, eggs, fruit, and others.
Other costs like electricity, gas, and water are reported to be the same cost as even Europe. This due to Paraguay being a landlocked country with limited energy resources.
Many expats report that the average life for an immigrant can be very affordable. Ranges go from a mere 500$ (around 3 million Paraguayan Guaraní) to 800$ (around 4.5M PYG) for a single person.