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The initiative enables direct access to permanent residency through investment, in a context of growing international demand for settlement in Paraguay. In a context of growing international interest in Paraguay as an investment and settlement destination, the National Government officially presented the Paraguay Investor Pass, a new instrument that introduces a structural change in the migration scheme by allowing direct access to permanent residence through investment, eliminating the need to go through a temporary residence beforehand. The announcement was made during an official mission to São Paulo, Brazil, led by the Minister of Industry and Commerce, Marco Riquelme, along with the National Director of Migration, Jorge Kronawetter. The new scheme establishes different investment thresholds to access this benefit. In the real estate sector, a minimum investment of USD 200,000 will be required, aligning it with other options such as participation in the stock market. The tourism sector, on the other hand, has a lower threshold, with investments starting at USD 150,000, broadening the range of possibilities for different types of investors. Beyond the amounts involved, the significance of the Paraguay Investor Pass lies in its underlying logic: directly linking immigration status with investments that have a real economic impact. This approach seeks not only to facilitate the arrival of foreign capital, but also to direct it toward strategic sectors for the country's development, among which the real estate market plays a leading role. The Ministry of Industry and Commerce presents this tool as a response to a specific market demand. In recent years, numerous foreign investors have expressed interest in establishing themselves in Paraguay before undertaking their projects, facing immigration processes that were not necessarily aligned with this dynamic. This new mechanism enables a more direct path, where the decision to invest and the possibility of obtaining residency are integrated into a single process. In operational terms, the program also introduces improvements to the investor experience. The process will be largely digital, reducing administrative hurdles and limiting the need for physical presence in the country to specific instances, such as issuing an identity card. This is complemented by an institutional support system, channeled through SUACE and the National Directorate of Migration, with the aim of centralizing and simplifying procedures through a single point of contact. Another key element is the tax component. The program includes a reduction in the dividend tax rate for residents, from 15% to 8%, which provides an additional incentive to structure investments from Paraguay, especially in sectors where profitability is directly linked to capital flows. The launch of the Paraguay Investor Pass coincides with a significant increase in residency applications. According to official data, Paraguay went from registering approximately 28,000 applications in 2024 to more than 47,000 in 2025, with projections indicating it will reach 80,000 in the short term. In this sense, the role of the investor certificate, issued by the Ministry of Industry and Commerce (MIC), takes on a new dimension. The instrument expands its categories to include not only traditional productive investment, but also sectors such as tourism, the stock market, and real estate, consolidating a more diversified approach aligned with current investment trends. In a broader sense, the Paraguay Investor Pass is part of a national strategy aimed at strengthening its competitiveness as an investment destination. Through streamlined processes, tax incentives, and improved institutional coordination, the government seeks not only to attract capital but also to integrate more actively into global investment and mobility flows. In this context, the initiative not only introduces a new migration mechanism, but also establishes a public policy tool aimed at channeling investments towards strategic sectors, supporting the growth of international demand for settlement in Paraguay and consolidating an economic integration agenda focused on productive development.

Although the concept is gaining relevance globally, its adoption in Paraguay remains limited, with a restricted supply and a market in the process of validation. In recent years, the concept of flexible offices has gained prominence globally as a direct response to the transformation of work dynamics. However, its adoption in the Paraguayan market has not followed the same pace or logic, resulting in a much more limited, fragmented, and, in some cases, unstable scenario. Unlike in more developed markets, where flexible workspaces are a well-established category within corporate real estate, their presence in Paraguay remains limited. Currently, the supply is restricted to a small number of operators, both international and local, and is still insufficient to speak of a true consolidation of the model. The concept, broadly speaking, refers to workspaces that allow companies to lease offices under more dynamic arrangements: shorter terms, adaptable layouts, and integrated services. This includes everything from traditional coworking spaces to private offices operated under flexible contracts, or even entire floors managed as a service. However, beyond its theoretical definition, the key to the model lies in its operational logic: transforming the office into a service, not a rigid asset. In Paraguay, this logic is still being validated. While some spaces have opened in recent years using this format, there have also been closures of local operators, highlighting the difficulties of sustaining the model in a market with unique characteristics. A key element in this analysis is their limited presence within the financial and corporate sectors. While flexible market opportunities exist, they have generally failed to establish a foothold in these areas, which currently account for a significant portion of the strongest demand. This disconnect between product and location reduces their ability to attract larger-scale corporate users and ultimately limits their market positioning. One of the main challenges lies in the structure of demand. Unlike other markets where there is a critical mass of startups, technology companies, or international corporations that prioritize flexibility over stability, in Paraguay, much of the corporate demand continues to operate under traditional models. Companies tend to value longer contracts, direct control over their spaces, and predictable costs, which reduces the need, or at least the urgency, to adopt more flexible formats. Added to this is an economic issue. The Flexible Office Space model requires intensive operation: high design standards, constant maintenance, included services, active user management, and sustained occupancy to be profitable. In smaller markets, where turnover is limited and demand is not always consistent, maintaining this structure can be complex. Furthermore, product positioning has not always been clear. In some cases, flexible workspaces have remained in a middle ground: too expensive for users seeking only a basic solution, but without offering a sufficiently differentiated proposition to attract larger corporate segments. However, despite these limitations, the model should not be dismissed. Its presence, although still in its early stages, introduces a relevant variable into the office market: flexibility as an attribute. In a context where Asunción's corporate sector continues to evolve, with new developments and increased competition among buildings, the ability to offer more adaptable layouts could become an increasingly valued differentiator. Within this scenario, the model finds a particularly interesting potential niche in the small and medium-sized enterprise (SME) segment. For many SMEs, the possibility of accessing well-equipped, well-located spaces without large initial investments can represent an efficient solution, especially during growth or transition phases. In fact, some recent projects have begun to incorporate flexible-use spaces within traditional buildings, not necessarily as the main product, but as a complement. This hybrid integration could represent a more viable path to adoption in the short term, allowing for testing demand without relying exclusively on the model. In this sense, the future of Flexible Office Space in Paraguay likely lies not in a direct replication of international formats, but rather in a gradual adaptation to local conditions. More than an immediate disruption, it is a process of adjustment, where the concept will find its place based on the evolution of the corporate market. For now, rather than an established trend, Flexible Office Space in Paraguay should be understood as a developing format with potential, but also with clear challenges. Its evolution will depend not only on the supply, but also on a gradual shift in how companies conceive of the workspace within their operational structures.

In a context of accelerated urban transformation, luxury residences face growing demand and an increasingly limited supply in the most consolidated areas of the city. Elegante residencia en Barrio Herrera The luxury residential market in Asunción is experiencing a period of high activity, marked by a particular combination of factors: sustained demand, driven by both local buyers and foreign investors, and a limited supply, especially with regard to new, modern properties that are well-positioned in terms of product. The high-end housing segment is consolidating itself as one of the most sensitive to the urban, regulatory and social transformations that the city is undergoing, generating a scenario that, while presenting clear opportunities, also poses structural challenges for both buyers and developers and advisors. In this context, Fátima Cubas, a Top Producer for five consecutive years since 2020 at Paraguay Sotheby's International Realty, provides a direct perspective on the segment based on her experience brokering high-value assets. With transactions exceeding USD 36.8 million in residential sales in Asunción by 2025, her track record allows us to understand both the depth of the market and the dynamics it is currently experiencing. One of the most relevant elements of the current moment is the growing importance of international buyers. Asunción is gradually positioning itself as a destination for high-net-worth individuals who value both the country's tax advantages and its relative quality of life. These buyers, in many cases, are not only looking for an investment, but also a primary or semi-permanent residence for their families. In this sense, factors such as proximity to schools, security, connectivity to the business district, and the quality of the urban environment become crucial. Residencia Contemporánea en el Barrio Mburucuyá Areas like Santísima Trinidad, Mburucuyá, and sectors near the corporate hub continue to concentrate a large part of this demand, mainly due to their combination of accessibility, services, and established residential communities. At the same time, local buyers continue to be a significant factor, especially established business owners or families looking to upgrade their housing within the city. Despite strong demand, the market faces a clear supply constraint. The most sought-after residences—new homes with contemporary design, good construction quality, and spacious lots—are scarce. Currently, the most dynamic price range for these types of properties is approximately between USD 500,000 and USD 800,000, provided they are situated on plots larger than 540 or 600 square meters. This last point is key: lot size remains a central attribute in the Paraguayan buyer's perception of value, who continues to prioritize outdoor space, gardens, and swimming pools. In contrast, much of the existing supply consists of remodeled homes or homes built on smaller plots, where the ratio of built area to open space is not always optimal. This creates a gap between what the market seeks and what is actually available. From a design perspective, the idea of a balanced relationship between construction and land is consolidated, where the built area does not exceed approximately 60% of the total lot. This logic reflects a still-prevalent cultural preference: the appreciation of open space as an extension of the home. Incomparable residencia en el Condominio la Trinidad I One of the factors currently impacting the luxury housing market most significantly is the sustained growth of high-rise buildings in traditionally residential areas. The lack of strict regulations addressing issues such as privacy between properties has led to situations where high-rise developments are built alongside single-family homes, directly affecting their value. The possibility of having buildings of more than six or eight stories with direct views into courtyards and private areas introduces a significant loss of privacy, which translates into an immediate adjustment in the valuation of neighboring properties. In many cases, a house impacted by this type of development comes to be considered primarily as "land value," geared towards future real estate projects, rather than as a finished residential property. This phenomenon introduces an element of uncertainty into the market, making it difficult to even recommend "safe" areas in terms of preserving residential character. Historically established neighborhoods, such as Santo Domingo and Manorá, have begun to experience these kinds of transformations, demonstrating an increasingly flexible and less predictable urban dynamic. Given this scenario, the choice of location is becoming increasingly dependent on the buyer's lifestyle. While those who need daily proximity to work and schools continue to prioritize Asunción, other profiles, especially those with greater work flexibility or in later stages of life, are beginning to consider alternatives in peripheral areas. Elegante residencia en Barrio Herrera Municipalities like Mariano Roque Alonso, Luque, or even developing areas like Nueva Asunción and Ciudad del Este offer the possibility of accessing larger plots of land at significantly lower prices. However, the lack of established infrastructure and, above all, traffic problems on the access roads to the capital, remain a significant barrier for those who must meet demanding daily routines. In this context, a hybrid model is emerging strongly: the combination of an apartment in Asunción for daily life and a second residence in more natural or gated environments, such as San Bernardino or developments like AquaVillage or AquaBrava. This approach reflects a search for balance between urban efficiency and quality of life, incorporating leisure as a structural part of the lifestyle. Regarding product characteristics, there is a clear convergence towards certain attributes considered essential in the luxury segment. The most sought-after homes typically feature four en-suite bedrooms, spacious social areas, integrated spaces for entertaining guests, high ceilings (preferably over 2.80 meters), a climate-controlled barbecue area with a grill and outdoor pool, and high-quality finishes. Security is also positioned as a key factor, especially for foreign buyers, who prioritize controlled and predictable environments. In parallel, there is a growing market acceptance of purchasing completed or resale homes, in contrast to the traditional self-build model. However, the scarcity of well-finished and properly valued properties remains a significant limitation. Incomparable residencia en el Condominio la Trinidad I Liquidity in this segment is highly variable and directly linked to the alignment between owner expectations and market realities. A well-located and accurately valued property can sell in a matter of days, while those priced above market value can remain unsold for years. This mismatch is particularly common in the high-end segment, where owners often incorporate appreciation expectations that are not always reflected in actual demand. In this sense, the market acts as an adjustment mechanism, determining the true transaction price. The correct structuring of the offer, including price, presentation, commercial strategy and customer service, then becomes crucial for the speed of absorption. The shortage of new, well-designed homes is partly due to the fact that owners of quality properties tend not to sell, or do so at prices higher than the market is willing to accept. This creates a bottleneck in supply, forcing buyers to consider alternatives. Two main strategies stand out: acquiring properties with renovation potential, provided the structure and location justify it, or purchasing land for custom development. However, extensive renovations can be complex and costly, especially when the original layout of the house is not functional. Incomparable residencia en el Condominio la Trinidad I In many cases, demolition and construction from scratch ends up being a more efficient option in terms of both cost and final result. Looking ahead, the luxury residence market in Asunción will maintain its relevance, driven by a structural demand that combines aspiration, the need for quality of life, and investment opportunities. However, its evolution will be conditioned by key variables: the ability to generate new supply in line with current expectations, the need for more consistent urban planning, and the adaptation of market players to an increasingly informed and demanding buyer. In this scenario, luxury housing ceases to be merely a real estate product and becomes a synthesis of multiple dimensions: location, design, privacy, environment and, increasingly, predictability in a transforming urban environment.

The price doesn't disappear: it transforms into performance, occupancy, and value over time. In the real estate business, a lower price is rarely an advantage. In most cases, it's a red flag. Not because the market penalizes low prices per se, but because the cost of producing a property adheres to a relatively rigid structure, where essential components—materials, systems, labor, design, and operation—have minimum thresholds below which quality begins to decline. When a project consistently falls below these thresholds, the difference doesn't disappear. It doesn't exist as real savings. It's shifted. It's shifted to the durability of materials, the efficiency of systems, the environmental quality of spaces, and ultimately, the long-term economic performance of the asset. The initial price, in that sense, isn't the problem; it's the visible symptom of a series of invisible decisions. In the residential sector, this logic is straightforward. An apartment that consistently sells below market value isn't simply more affordable; it's a product where something has been cut back. It could be the thickness of the walls, the quality of the windows and doors, the thermal insulation, the efficiency of the utilities, or the design of the common areas. Each of these reductions has a cumulative effect. In a hypothetical scenario, two similar units with the same location and size might have price differences of 15% or 20%. The cheaper unit sells faster initially. However, after two or three years, the effects begin to appear: higher maintenance costs, reduced comfort, and visible deterioration in common areas. In the resale market, that unit no longer competes against its original price, but against better-designed properties. The initial discount ceases to be an advantage and becomes a limitation. In the rental segment, the dynamics are even more explicit. An asset's income depends not only on its cost but also on its sustained potential. An asset with lower structural quality enters the market with only one competitive tool: price. This translates to lower rates, greater vulnerability to competition, and, in many cases, longer vacancy periods. Imagine two rental units in the same area; the difference isn't necessarily in the location, but in the user experience. One maintains stable occupancy levels, lower turnover, and predictable operating costs. The other needs to constantly adjust its price to remain competitive, faces frequent tenant changes, and accumulates corrective costs. The return, in real terms, is compressed. In the corporate sector, the structure is even more stringent because the product is not just space, but functionality. An office building doesn't compete solely on location or price per square meter, but on its ability to operate efficiently. Climate control systems, air quality, lighting, technological infrastructure, and floor plan flexibility are not differentiating attributes: they are minimum requirements. When these elements are reduced to cut costs, the asset loses operational capacity. A building that fails to maintain stable thermal conditions, has high energy consumption, or cannot be adapted to different usage configurations ceases to be competitive, regardless of its price. At this point, the market is non-negotiable. A recurring scenario is that of buildings entering the market with attractive rental prices, but failing to maintain stable occupancy levels. Companies prioritize operational predictability over initial savings. The result is an asset that is constantly undercutting prices, with higher turnover and less stable income. This pattern reflects a structural logic of the real estate business: value cannot be compressed indefinitely without affecting the product. Unlike other sectors, where efficiency can allow for real cost reductions, in real estate a large part of the cost is linked to physical and technical elements that cannot be simplified without consequences. Therefore, the lowest price in a market rarely represents an isolated opportunity. In most cases, it's the manifestation of an imbalance between cost and value—an imbalance that isn't corrected at the time of purchase, but rather over time. In the long run, the market consistently corrects this imbalance. It does so through occupancy, the income the asset is able to generate, and its ability to maintain value relative to alternatives. Assets that start from a weaker base tend to require discounts, reinvestments, or both to remain relevant. The difference between cost and value is not conceptual. It is cumulative, operational, and, above all, unavoidable.

The development, driven by CRESIA, introduces a format of high-rise residences with low density, large areas and a focus on privacy, in one of the most consolidated areas of Ciudad del Este. In a context where the Ciudad del Este real estate market is beginning to show clearer signs of segmentation and sophistication, the launch of Magnolia marks the addition of a new residential option geared toward the premium segment. The project was officially presented at an event that included a groundbreaking ceremony, launching a development that seeks to position itself through a combination of low density, spaciousness, and high-quality construction. Located on Los Naranjos Street, between Yrupé and Palo Santo, in Area 1, Boquerón neighborhood, Magnolia is situated in one of the city's most established and highly valued urban environments. This location, characterized by its residential nature, proximity to Lake of the Republic, and access to educational, commercial, and service infrastructure, has become a key development hub for higher-end products in the local market. The project introduces a high-rise residential concept distinguished by its scale. With only 10 units distributed across five levels, Magnolia adopts a low-density approach, unusual in the vertical development format, prioritizing privacy and the quality of space over maximizing saleable volume. This design decision reflects a growing trend in certain segments of the Paraguayan market, where differentiation is no longer based solely on location or amenities, but rather on the overall living experience. Each unit has been designed as a spacious residence, with areas exceeding 240 square meters and three-bedroom layouts. The interior design combines spaciousness, functionality, and high-end finishes, with a configuration that seamlessly integrates the social spaces with the outdoors. In this sense, the balcony terraces play a central role in the design, not only as an extension of the social area but also as an element that articulates the visual connection with the natural surroundings of Area 1. One of the most significant aspects of the project is the incorporation of retractable glass enclosures on these terraces, allowing for climate control and year-round use, transforming them into an additional living space within the home. This type of solution, still relatively uncommon in the local market, reflects an evolution in the way residential spaces are conceived, where flexibility and the comprehensive use of every square meter are taking on a more prominent role. Functionally, the kitchen is designed as an integrated space, with a central island and direct access to the social area. This type of layout responds to a growing demand for more open and adaptable spaces, in line with changing housing usage habits. As for the common areas, the top floor of the building features a range of amenities focused on well-being and community life. These include a rooftop terrace with a swimming pool, a gym, a solarium, an air-conditioned event room, and a children's play area, all designed to take advantage of the open views of the surrounding area. From a positioning standpoint, Magnolia is situated within the premium segment of Ciudad del Este, with an entry price starting at USD 346,300. This price point reflects both the scale of the units and the quality of the offering, and aligns with a broader trend of diversification in the local market, where products targeting more specific demand profiles are beginning to consolidate, including high-net-worth end users and investors seeking more differentiated assets. The project has an estimated construction time of 28 months. The development is being driven by CRESIA, which has been consolidating its presence in the Paraguayan real estate market through projects that combine design, construction quality, and a long-term vision. With Magnolia, the developer reaches its fourth project in Ciudad del Este, reinforcing its commitment to one of the country's most economically dynamic cities, largely driven by its status as a commercial hub and its connection to the border region. In this context, the groundbreaking ceremony for the project not only marks the beginning of its physical development but also reflects a stage in which the local market is beginning to incorporate new typologies and standards, progressively raising the level of offerings and expanding the range of options available to buyers and investors. Magnolia fits within this trend, proposing a format that combines scale, meticulous design, and a clear intention to differentiate itself within the high-end residential segment of Ciudad del Este.

Understanding how a project is built, and not just how it is presented, becomes key to interpreting its real value over time. In the Paraguayan real estate market, the conversation continues to revolve largely around visible and easily comparable variables: the price per square meter, the project's location, and the list of amenities included in the commercial offering. These elements allow for a quick sorting of the available options and simplify decision-making, especially in a context where the volume of new developments continues to grow strongly in Asunción and its metropolitan area. However, behind that visible layer there is a much more decisive and, paradoxically, much less analyzed component that ends up defining the true value of a property over time: the construction quality. In an expanding market, where new projects are constantly entering the market and competition among developers is intensifying, the difficulty in distinguishing between different levels of quality distorts both the perception of value and investment decisions. Two units that, on the surface, may share the same location, size, and even market positioning, can differ significantly in their performance over time, their maintenance costs, and the user experience they offer their occupants. Part of the problem lies in the fact that construction quality is not an obvious attribute. Unlike an attractive facade or a well-designed common area, the elements that truly determine a building's quality remain, for the most part, hidden. These are decisions made in the early stages of development, in the structural design, in the selection of raw materials, and, above all, in the construction process. In the buyer's mind, the notion of quality is often associated with visible finishes: cladding, faucets, woodwork, or fixtures. However, these variables, whose quality also affects the durability and performance of the project, are part of a much broader construction system. The true quality of a real estate project is built on the interaction between three fundamental components: the structure, the building envelope, and the building services. The structure forms the foundation upon which the entire project rests. The quality of the concrete, the precision of the construction, adherence to the structural calculations, and the construction controls are factors that, while not visible once the building is finished, determine its long-term durability and safety. In a context like Paraguay's, where many projects are developed with tight financing schemes and demanding schedules, discipline at this stage is crucial to preventing future problems. In parallel, the building envelope, comprised of walls, enclosures, and openings, plays a central role in interior comfort. The proper design of these elements directly impacts thermal insulation, energy efficiency, and acoustic performance between units. In a city like Asunción, characterized by high temperatures and humidity, the quality of the building envelope ceases to be a secondary attribute and becomes a key factor in the daily livability of the project. The building's systems, for their part, represent one of the most critical and, at the same time, least visible components in the decision-making process. Poorly executed electrical systems, faulty plumbing, or makeshift climate control solutions often only become apparent with use, generating additional costs and negatively impacting the user experience. In many cases, these elements, along with the visible finishes, ultimately define the perceived quality of a building over time. Even within the finishing touches, where the user has the greatest capacity for observation, there are signs that allow one to infer the level of workmanship. Proper floor leveling, wall covering alignment, seamless joints, and the resolution of slopes in wet areas are not merely aesthetic considerations; they reflect the degree of control and supervision during construction. It's not just about the materials used, but how they were installed. In this context, the developer's and construction company's track record becomes a key indicator for anticipating the final quality of the project. In a market where technical information is not always systematized or standardized, analyzing past projects becomes a crucial tool for understanding the actual standard of execution. Observing how buildings have aged, identifying recurring problems, or conversely, consistent levels of quality, allows us to differentiate between established projects and one-off ventures. This interpretation also involves understanding the role of each stakeholder in the development process. While the developer defines the vision, positioning, and investment level of the project, it is the construction company that translates those decisions into concrete work. The final quality does not depend on a single factor, but rather on the degree of alignment, or misalignment, between the two. Another aspect that is particularly relevant is the consistency between the project's price, its commercial proposition, and its execution. When there is a significant gap between what is promised and what is actually delivered, it is usually a warning sign. Conversely, projects that maintain consistency between their positioning and their final product tend to generate better results in the long run, both in terms of valuation and user experience. Along these same lines, contractual documentation emerges as a central element in the evaluation process. Beyond marketing materials, it is in the contract that the true scope of what the developer commits to delivering is established. The absence of clear definitions regarding materials, construction systems, or technical standards introduces a degree of ambiguity that, in practice, can translate into significant differences between what was expected and what was received. Conversely, contracts that precisely detail technical specifications, material qualities, and execution conditions not only reduce risk for the buyer but also reflect a higher level of professionalism on the part of the developer. In a maturing market, this type of transparency is beginning to become a competitive advantage. As the Paraguayan real estate sector continues its expansion and sophistication, the ability of buyers and investors to understand these aspects becomes increasingly important. Transparency in technical information, professionalization of construction, and higher market demands will be key factors in raising the overall standard of developments. Because, in the long run, the difference between one project and another is not measured solely by how it is sold, but by how it is lived in.

The new trade association seeks to bring together the private sector, promote greater regulatory predictability, and support the urban growth of the Ciudad del Este metropolitan area. The Alto Paraná Real Estate Developers Chamber (CADIAP) was officially launched amidst sustained growth in real estate investment and increasingly visible urban transformation in the country's tenth department. The new trade association aims to represent the sector, strengthen its institutional structure, and provide more organized support for the evolution of the real estate market in one of the regions that is now beginning to establish itself as one of Paraguay's most dynamic development hubs. The official launch took place during a press conference at the Hotel Las Ventanas, where members of the new chamber outlined the organization's main objectives and their vision for the role the real estate sector can play in the department's urban development. The initiative comes at a time when the Alto Paraná real estate market is showing signs of expansion, driven by new investments, the development of projects of varying scales, and growing demand for more structured residential options with greater long-term potential. The region's real estate market functions in practice as a metropolitan system integrating several municipalities, including Ciudad del Este, Hernandarias, Minga Guazú, and Presidente Franco. These form part of an increasingly interconnected territorial dynamic, where daily mobility, economic activity, and new urban developments are distributed across various points of the metropolitan area. However, the urban growth the region is experiencing also presents new challenges in terms of planning and institutional coordination. As projects increase and real estate investment begins to scale, it becomes increasingly important to have clear planning frameworks and accessible regulatory information for all stakeholders involved in the city's development. In this context, one of the factors that drove the creation of CADIAP is linked to the opportunity to strengthen institutional predictability and provide more structured support for the urban growth the region has been experiencing. As the Alto Paraná real estate market continues to expand and projects begin to grow in scale, the need also arises to move towards planning tools that allow for greater regulatory clarity and a long-term urban development vision to support this evolution. Within this framework, one of the new chamber's key objectives will be to promote spaces for dialogue and cooperation that will allow for progress toward more up-to-date urban planning instruments. Among the initiatives it seeks to advance is the possibility of developing a territorial regulatory plan for Ciudad del Este, a tool that could help to organize the city's growth and provide greater predictability for investments related to real estate development. Recent experiences within the country show that these types of processes can be developed collaboratively between the public and private sectors. The case of Encarnación, where progress was made in updating its urban regulations through joint work between authorities, professionals, and developers, stands out as a relevant precedent demonstrating the value of building these types of tools through dialogue and institutional cooperation. Another objective set by the chamber is linked to the urban revitalization of traditional neighborhoods in the city. Experience in various cities shows that urban environments with a clear identity, active public spaces, and greater social cohesion tend to generate better conditions for real estate investment and the consolidation of long-term residential communities. In this sense, CADIAP seeks to promote initiatives that contribute to revitalizing certain urban sectors and strengthening the identity of neighborhoods that have historically been important within the urban structure of Ciudad del Este. The recent growth of the real estate market in Alto Paraná has also brought with it the entry of new players into the sector. This process, common in expanding markets, opens up investment opportunities but also presents the challenge of continuing to raise the professional standards of the industry. In this regard, the chamber will seek to promote training and development programs for developers, real estate agents, and suppliers in the sector, with the aim of strengthening the professionalization of the industry and supporting its sustainable growth. In parallel, the new entity also seeks to collaborate in building a stronger narrative around the region's positioning as a real estate investment destination. Although Ciudad del Este is widely known regionally for its commercial activity, developers believe that Alto Paraná's positioning as a real estate market still has significant room for development. In this regard, the chamber plans to work in coordination with other business and trade associations in the region to help strengthen the department's image as an attractive location for long-term investments linked to urban development. During the presentation, the adoption of a code of ethics for member companies was also highlighted, aimed at promoting greater transparency within the sector. Among the commitments made is the obligation to declare all projects developed by each company to the organization, as well as the commitment to fully comply with current urban planning regulations. Furthermore, it was established that projects marketed publicly through pre-sales must have prior municipal approval, a practice that seeks to strengthen buyer confidence and prevent the marketing of developments that lack sufficient technical or regulatory support. In its initial phase, the Alto Paraná Real Estate Developers Chamber comprises eight companies in the sector: Métrika, Saphira Business, Macro Inmobiliaria, Fioli, Jarosky, Edifica, Cresia de Codas Vuyk, and Green Paraná. In addition to the development partners, the organization plans to incorporate collaborating partners from various sectors of the real estate ecosystem, including real estate brokers, industry suppliers, academic institutions, and representatives from the public sector. The newly formed chamber of commerce indicates that the Ciudad del Este real estate market is experiencing one of its most dynamic periods in recent decades. The region combines several factors driving real estate demand, including economic activity linked to border trade, the presence of workers who commute daily between Paraguay and Brazil, and sustained population growth in the metropolitan area. This is further bolstered by the participation of local investors from the region itself and a growing interest from buyers on the Brazilian side of the border. In this context, developers believe the department could experience sustained real estate appreciation over the next few years, as new projects continue to take shape and the region moves toward greater institutionalization of its real estate market. The creation of CADIAP is precisely part of this broader process of sector maturation, where collaboration between private and public stakeholders is becoming increasingly important in supporting the urban growth of Alto Paraná. With its formation, the Alto Paraná Real Estate Developers Chamber seeks to consolidate itself as a platform for representation and coordination for the sector, with the challenge of contributing to the construction of a more predictable, professional real estate ecosystem aligned with the urban development process that the region is going through.

The opening of the new showroom reflects the evolution of the developer in the Paraguayan market, where in a few years it consolidated a portfolio of residential and mixed-use projects in the most dynamic urban corridors of Asunción. In an increasingly dynamic and sophisticated Paraguayan real estate market, where interest from both local and international investors is growing, developers have begun to compete not only in terms of location and construction quality, but also in the way they present and communicate their projects, making commercial spaces increasingly relevant tools within their strategy. In line with this market evolution, Altius Group Paraguay inaugurated its new sales showroom yesterday on Avenida César López Moreira at the corner of Nuestra Señora del Carmen, next to Shopping del Sol. The event brought together clients, strategic partners, and industry leaders, marking a new chapter in the developer's consolidation within the premium segment of the Paraguayan real estate market. The new showroom was conceived as an experiential space for buyers and investors, where they can explore the company's project portfolio and understand the high standards of design, architecture, and quality that characterize its developments. The space was designed by architect César Aquino, who envisioned a contemporary environment intended not only as a sales office but also as a platform for interaction between the brand, its projects, and the public interested in them. Among the showroom's key features is a materials room, where visitors can directly observe the finishes used in the various residential developments. Flooring, woodwork, kitchen finishes, and other elements are on display, providing a clearer understanding of the level of detail in each project. This space serves as a crucial tool for those considering a real estate purchase, allowing them to visualize the final product more clearly once construction is complete. The showroom also features a 360° immersive room, designed as an audiovisual environment that allows for a more complete experience of the developer's projects. Through audiovisual technology, interested parties can virtually tour the buildings and visualize the experience of living in an Altius Group development, integrating design, architecture, and urban environment. Departamento modelo del proyecto More Plaza exhibido en el nuevo showroom de Altius. The opening of the new space also reflects the company's evolution since arriving in the country. Altius Group, a Uruguayan-based developer with a presence in various markets across the region, began analyzing the Paraguayan market in late 2018 as part of its international expansion strategy, after having launched operations in countries such as Mexico and Panama. During this process, the team studied the performance of previous projects developed by foreign companies and worked on building relationships with local architects, builders, and real estate agencies to understand the market's specific characteristics. Based on that analysis, the company decided to formally establish its operations in Paraguay by acquiring land in the emerging Shopping del Sol real estate corridor, where it developed More del Sol, a residential building located at the intersection of Nuestra Señora del Carmen and San Martín. The project, which comprises approximately 21,000 square meters and 126 apartments, was launched commercially in October 2020 in the midst of the pandemic and is now almost entirely sold out. Following that initial development, the company progressively expanded its presence in the country with new projects that strengthened its local portfolio. Among these, Central Mariscal stands out, a complex of approximately 45,000 square meters comprising two residential towers, an office tower, and a commercial ground floor focused on gastronomy and services. The office and commercial area of the project was acquired by the Penta Group, while the residential towers are nearing completion. The company also developed Nostrum Trinidad, a 12,000-square-meter project with 125 apartments located in the Mburucuyá neighborhood, designed with a focus on the end users of the neighborhood itself. In addition, there is Los Pingos Club de Campo , a large-scale residential development that includes a first phase of 45 hectares with 208 lots, 44 townhouses, and a 4.5-hectare natural lagoon, currently with approximately 65% of the units sold. Another recent project is More Plaza , a mixed-use development located next to Shopping del Sol. It includes 130 apartments, 2,500 square meters of office and retail space, as well as a central plaza serving as the complex's public area. Launched commercially last year, the project has currently sold approximately 70% of its units, with prices around $3,000 per square meter. More Plaza, proyecto residencial desarrollado por Altius. In addition, the company is working on new initiatives within Asunción, including More Mariscal 3, which will expand the existing residential complex in Villa Morra, while evaluating the development of new projects that could be added to its pipeline during the course of the year. Beyond portfolio growth, one of the key elements the company highlights in its adaptation to the Paraguayan market has been its integration with the local real estate ecosystem. Instead of replicating an operating model imported from other countries, the company chose to work with Paraguayan architects, builders, law firms, and financial institutions, incorporating local experts into its team. Among the companies and professionals with which it has collaborated are architectural studios, construction companies and local specialists, in addition to a sales force made up mostly of Paraguayan professionals, in a strategy of integration with the local market that has helped to consolidate an operation with an increasingly Paraguayan identity. Vista del proyecto residencial Los Pingos, ubicado en la zona de Surubi’i The opening of the new showroom also holds symbolic significance within this consolidation process. The previous space had to be closed to make way for the start of construction on More Plaza, which led the company to seek a new location within the same neighborhood where it began its operations in the country. The result is a larger showroom with greater operational capacity and the incorporation of technological tools that enhance the project presentation experience. More than just a sales point, the new showroom is presented as a platform from which Altius seeks to strengthen its connection with the Paraguayan market in a context of increasing competition among developers and greater access to information for buyers. In this scenario, the opening of the space also reflects a broader maturation process within the Paraguayan real estate market, where customer experience, architecture, and the way each project is communicated are beginning to occupy an increasingly central place within the industry.

The initiative, promoted by Zuba and Raíces Real Estate, seeks to consolidate a new residential center within a planned urbanization of 200 hectares. The gated community of Aquadelta continues its consolidation process with the launch of a new residential development by Zuba in strategic partnership with Raíces Real Estate. The project, called Zuba Park, represents a new chapter in the development's evolution and is part of a broader urban transformation underway in the northern part of the metropolitan area in recent years. The initiative stems from an agreement between the two companies to develop a residential complex within the gated community, combining the experience of two players with decades in the Paraguayan real estate market and a shared vision for urban growth in areas with high expansion potential. Zuba Park is envisioned as a residential development designed to combine quality of life and property appreciation within an area experiencing sustained growth. The project targets new buyer profiles, including young investors and families seeking quieter, safer environments without sacrificing access to the economic dynamism of the metropolitan area. The development will be located within the gated community of Aquadelta, a planned urbanization of approximately 200 hectares in the district of Limpio, about thirty minutes from Asunción. The project is part of the residential growth experienced in the northern part of the Central Department in recent years, driven by the availability of land, new infrastructure, and a growing demand for housing in environments with greater contact with nature. The neighborhood's master plan includes developed residential lots, controlled access with perimeter security, and a network of amenities including sports areas, recreational spaces, a clubhouse, a beach bar, and a commercial area with restaurants and convenience stores. The project also envisions the addition of an educational hub, which will include a school with a trilingual curriculum (Spanish, Portuguese, English, and Guarani), along with corporate offices and other services. Valentina Basaglia, Directora de Zuba; Alejandro Zuccolillo, CEO de Zuba; y Ernesto Figueredo, Presidente de Raíces Real Estate, durante el lanzamiento del proyecto. The development is also integrated into the work of the Northern District Association, an initiative that brings together developers and private sector actors in Mariano Roque Alonso, Limpio and Luque with the aim of promoting infrastructure, investment and urban growth in one of the main expansion corridors of the metropolitan area of Asunción. As part of this planning, the implementation of a private transportation system is also projected, which will connect the development with the capital, facilitating daily commutes to Asunción and strengthening the integration of the northern axis with the rest of the metropolitan area. Zuba Park is situated within this urban landscape, conceived as a residential complex that will contribute to greater density and activity within the development. The first phase of the project includes the construction of an eight-story tower with 80 apartments, built on a plot of approximately 20,000 square meters, with nearly 2,000 square meters of built area. One of the project's most striking features is the relationship between density and available space. Unlike buildings located within established urban environments, where land is scarce and common areas are typically limited, this complex will have approximately five times more land per apartment than a typical city development. This allows for larger common areas and a significantly wider range of amenities. The complex will feature amenities such as a swimming pool, heated barbecue areas, grills, coworking spaces, a laundry room, bicycle parking, electric vehicle charging stations, a pet spa, a 24-hour market, parking, and elevators. Residents will also have direct access to Aquadelta's amenities, including sports courts, recreational areas, a riverside clubhouse, educational spaces, and access to the San Francisco stream. The proposal seeks to recreate a community-like lifestyle similar to that of a residential club, where security, nature, and shared spaces combine to offer an experience distinct from what is typically found in the city. The concept aims to provide an alternative for those seeking to escape the increasingly intense pace of urban life and find an environment where a more peaceful family life is possible, with open spaces and greater contact with nature. Regarding unit types, the complex will include Zuba's traditional configurations along with some variations adapted to the development's context. Units will begin with studios of approximately 28 square meters, followed by one-bedroom apartments of 32 square meters. Two two-bedroom options will also be offered: a compact one of approximately 50 square meters with one bathroom, and another of around 60 square meters with an en-suite bathroom. Additionally, the project will incorporate three-bedroom units of approximately 75 square meters, featuring a private barbecue area and grill on the terrace—a type designed especially for families seeking more space within a natural setting. In terms of sales, the units will be launched with starting prices from USD 36,000 cash, positioning them at similar values to the developer's urban projects in Asunción, but within a larger residential setting and closer to nature. The sales plan includes various financing options and requires a minimum down payment of 10%, with the balance financed according to the term chosen by each buyer. One option is payment during construction, which divides the total price into 24 interest-free installments, corresponding to the estimated construction time of the first phase. Financing plans of up to five years after unit delivery will also be offered, in addition to credit options in conjunction with various banks. The project's master plan envisions the phased development of four residential towers, to be launched in stages over the next few years. According to estimates presented by the developers, the entire process could take approximately six years, assuming one tower is launched per year and each tower takes around 24 months to complete. This gradual development approach will allow the project to keep pace with sales and the evolution of the gated community itself, which will continue to incorporate new amenities and services as it becomes more established. The alliance between Raíces Real Estate and Zuba combines two established players in the Paraguayan real estate market. Raíces has positioned itself in recent years as one of the most active developers of large-scale suburbanization projects, with proposals that integrate urbanization, recreational infrastructure, and natural spaces. Zuba, for its part, has established itself as one of the country's leading urban developers, creating residential projects under financial models aimed at expanding access to housing and fostering new communities. Zuba also holds an investment-grade rating in Paraguay, a condition that underscores its financial strength and the transparency of its corporate structure, whose financial statements are published by the Central Bank of Paraguay. In the case of Zuba Park, the combination of Aquadelta's urban scale and Zuba's experience in developing residential projects aims to create a new type of offering within the local real estate market. More than just an apartment building, the project aims to consolidate a small urban neighborhood within Aquadelta, bringing greater density, activity, and community life to the development. This approach reflects an increasingly visible trend in various metropolitan areas, where some residential demand is shifting toward suburban developments that offer greater contact with nature, security, and environmental quality, without losing access to economic centers. Initiatives like Zuba Park seek to integrate housing, services, education, commerce, and recreational spaces within a long-term plan. With its launch, the project joins the process of consolidating the northern axis as one of the areas where a new way of living in the Asunción metropolitan area is beginning to take shape. For those who wish to learn more about the proposal and sales terms, please complete the form at the end of this article. The Zuba Park development team will contact you directly to provide personalized information.

The developer integrates the specialized hospitality operator into its service ecosystem with the aim of professionalizing the operation of rental properties and strengthening building management in its projects. José Serratti, accionista y director jurídico de CIVIS, junto a Manuel Mateu, propietario y director comercial de HOSTPY. Real estate developer CIVIS Soluciones Inmobiliarias announced the integration of HOSTPY into its service ecosystem, an initiative aimed at strengthening after-sales management of projects and offering owners professional tools to manage and operate their properties. The addition of the company specializing in short-term rentals, hospitality, and property management is part of a broader strategy to support investors throughout the entire lifecycle of their real estate investment. The initiative also reflects a growing trend in the real estate market: developers are beginning to complement the construction and marketing of projects with services focused on the operation and management of assets once delivered. In this context, CIVIS seeks to consolidate a real estate ecosystem model that allows owners to access professional solutions designed to optimize the performance of their properties and preserve their value over time. HOSTPY thus joins the suite of services that CIVIS has been developing around its projects, with the aim of professionalizing accommodation management and strengthening administration standards within buildings. Unlike a traditional real estate agency focused on accommodation brokerage, the company operates under a hospitality model applied to residential properties, managing assets as accommodation units and comprehensively overseeing the guest experience and the daily operation of the properties. El edificio CIVIS Mariscal, ubicado en el barrio Recoleta, cuya entrega está prevista para marzo de este año. Currently, HOSTPY is already operating in the short-term rental segment, managing houses and apartments through a model that combines attention to detail, technology, and operational efficiency. Its approach encompasses the complete management of the units, including reservation management, coordination of cleaning and maintenance services, guest support, and occupancy optimization across various lodging platforms. With the integration of HOSTPY, unit owners within CIVIS developments can delegate the complete management of their properties to a specialized operator. This includes the administration of units intended for both short-term stays and traditional residential rentals, as well as the coordination of bookings on digital platforms, guest and tenant support, and operational management related to the maintenance, cleaning, and daily operation of the properties. In this new phase, the company will also expand its reach into condominium management, beginning with the CIVIS Mariscal building, whose inauguration is scheduled for March. The goal is to integrate HOSTPY's experience in lodging operations with the quality, maintenance, and community standards that characterize developments promoted by CIVIS. As Asunción experiences sustained growth in residential building construction and an increasing number of investors acquiring units for rental purposes, the management of these properties is becoming ever more important. In this context, professional property management is becoming a key element for streamlining the operation of these assets. An efficient management system allows for the establishment of consistent standards for maintenance, cleaning, guest services, and operational management—factors that are fundamental to maintaining the reputation of the buildings and ensuring the long-term proper functioning of the rental units. The initiative also incorporates technological tools designed to improve the owner experience and optimize building management. Through the CIVIS Community app, owners can access information related to their units, view occupancy, rental, and availability data, manage reservations for common areas, and communicate directly with customer service. These digital tools aim to simplify the day-to-day administration of buildings and provide greater transparency regarding property performance. Aether by CIVIS, actualmente en construcción en el barrio Las Lomas, con entrega programada para 2030. From CIVIS's perspective, the incorporation of management and technology services is part of a broader vision aimed at building an ecosystem of real estate solutions designed for investors. In addition to developing and marketing projects, the company seeks to integrate various tools and services that support owners throughout the entire investment process. This ecosystem includes areas such as financing structures, unit outfitting, housing technology, construction oversight and monitoring, property management, and accommodation operations. The focus is on ensuring that investors not only acquire real estate assets but also have the necessary tools to operate them efficiently and professionally. For its part, HOSTPY brings specific expertise in the hospitality sector applied to residential properties. The company began operations managing homes in San Bernardino, where it quickly established itself within the short-term rental segment by offering high-quality lodging experiences for guests and efficient management solutions for owners. The company's operating model is based on applying hotel industry standards to the management of residential properties, carefully attending to every detail of the guest experience and ensuring organized and professional management of accommodations. HOSTPY acts as a liaison between property owners and lodging platforms, handling the comprehensive management of reservations, guest services, property maintenance, and the coordination of various services related to the stay. The company was founded by the Mateu-Cáceres couple with the vision of contributing to the professionalization of the short-term accommodation sector in Paraguay. Since its inception, the company has sought to introduce more structured management practices within a segment that has grown rapidly in recent years, but which in many cases still operates in a fragmented or informal manner. For CIVIS, the addition of HOSTPY comes amidst a year already marked by several milestones in its project calendar. During 2026, the developer projects new real estate launches, expansion of its presence in various cities across the country, and the delivery of new developments within its portfolio. The company is currently constructing Aether , CIVIS X, CIVIS XI , and SOHO Flats in Asunción, while the CIVIS Mariscal building is nearing completion. In recent years, the company has also completed projects such as Mburucuya Flats, Flats del Sol, Flats Las Mercedes, CIVIS Alpha, Villa Morra Flats, ARAZA 1 and 2 within the Yvyra gated community , and Jardinia, consolidating a portfolio that now exceeds 50,000 square meters of construction, with more than 1,250 units sold and eight buildings delivered. In a context of growth in the Paraguayan real estate market and the expansion of income-oriented investment models, the incorporation of specialized management and hospitality services is becoming an increasingly relevant component of the real estate ecosystem. As investor profiles diversify and projects incorporate new uses and operating models, professional property management is acquiring an increasingly central role in ensuring the efficient operation of buildings and the long-term sustainability of investments.

During the official presentation of Wyndham Garden Costa del Lago to investors, the alliance seeks to retain longer tourist stays and boost investment in the Triple Frontier. Aníbal Figueredo, vicepresidente de Raíces Real Estate; Alex Loza, director del Grupo Barcelona; Angie Duarte, ministra de la Secretaría Nacional de Turismo (SENATUR); Ernesto Figueredo, presidente de Raíces Real Estate; y Armando Ramírez, director de Business Development de Wyndham Hotels & Resorts. On Thursday, February 19, the official presentation of Wyndham Garden Costa del Lago Residences took place at the Dazzler Hotel in Ciudad del Este, bringing together developers, investors, and authorities. At the same event, Raíces Real Estate and the National Tourism Secretariat (SENATUR) formalized a Cooperation Agreement aimed at integrating real estate investment and tourism strategy at the national level. The agreement establishes a joint roadmap that seeks to coordinate private investment and public policy, promoting national and international positioning campaigns, providing specialized technical assistance for developments linked to the tourism sector, and creating institutional conditions that facilitate new investments in strategic destinations across the country. Initially valid for two years, the agreement extends until 2028, consolidating a cooperation framework focused on continuity rather than isolated actions. The alliance comes at a time when tourism is beginning to solidify its position as an increasingly visible component of the national economy. The integration of real estate developments with state tourism planning introduces a more structured approach, in which real estate development is no longer seen solely as an asset investment but begins to form a direct part of the country's tourism offerings. Angie Duarte, ministra de la Secretaría Nacional de Turismo (SENATUR), y Ernesto Figueredo, presidente de Raíces Real Estate, durante la firma del convenio. The agreement reaffirms the intention to promote projects that combine architectural quality, urban planning, and a long-term vision. The initiative stems from a concrete understanding of the regional context. Paraguay, and particularly the Alto Paraná region, occupies a strategic geographic position within the Triple Frontier circuit, one of the areas with the highest tourist traffic in South America. Every year, millions of visitors explore Iguazu Falls and the main attractions of the Triple Frontier, but a significant portion of that flow spends only a few hours in Paraguay, reducing the local economic impact. The challenge is not to attract more visitors, but to encourage them to stay longer. Encouraging an additional night or two means that a greater proportion of tourist spending is captured within the country—in hotels, restaurants, and other services—thus expanding the local value chain. Meeting this challenge requires products that integrate experience, infrastructure, and professional management. Following this approach, Wyndham Garden Costa del Lago Residences is a project developed through a partnership between Raíces Real Estate and Grupo Barcelona, incorporating Wyndham's hotel management services. The project is located within the gated community of Costa del Lago, in the city of Hernandarias, in an environment spanning over 380 hectares that combines natural landscape, sports facilities, and comprehensive security. The building will boast a prime location facing a 29,200-square-meter crystal lagoon, surrounded by white sand beaches, as well as a marina with access to Lake Itaipu for water sports. The proposal includes versatile unit types: lockoff units, one- and two-bedroom apartments, duplexes, options with terraces or gardens, and penthouses, designed to cater to both tourists and rental investors. One of the core elements of the business model is its rental pool structure. In this system, all revenue generated by hotel operations is pooled into a common fund. After deducting operating expenses, the profit is distributed proportionally among the owners based on their square footage. This mechanism mitigates the individual risk associated with the specific occupancy of each unit. Unlike individually managed short-term rental schemes, where profitability depends solely on the performance of a single unit, the pool structure reduces volatility and offers greater predictability in revenue flow. Management by an international chain introduces professional standards to operational, commercial, and service management. This is a significant factor in a market where the hotel supply has grown in recent years, but where there is still room to improve service quality, especially in the high-end executive and family segments. Alto Paraná has experienced remarkable dynamism in recent years, driven by both internal migration from other departments of the country and a significant increase in foreign residents, especially Brazilians, motivated by economic and fiscal factors. This phenomenon has spurred high-rise residential development and expanded the range of complementary accommodation options. However, some of these offerings lack a comprehensive service and hospitality package aligned with international standards. Projects like Wyndham Garden Costa del Lago aim to fill this gap between the traditional hotel and the individual short-term rental apartment, integrating professional management, high-quality amenities, and a natural setting. The location enhances its strategic appeal. Costa del Lago is approximately 20 minutes from downtown Ciudad del Este, 45 minutes from the region's most accessible airport, and less than an hour from Iguazu Falls. This connectivity, combined with the scenic surroundings of Lake Itaipu, allows for the integration of urban life, nature, and international tourism into a single product. Beyond this specific project, the alliance between Raíces, Grupo Barcelona, and Wyndham highlights a significant trend in the Paraguayan market: partnerships between local players and internationally recognized brands. These collaborations not only enhance brand positioning and build investor confidence but also facilitate knowledge transfer in hotel management, administration, marketing, and service standards. This process contributes to the development of a skilled workforce and the consolidation of a service culture that strengthens the country's tourism competitiveness. The agreement with SENATUR introduces an institutional component that seeks to integrate these developments within a broader tourism strategy. In a context where Paraguay is experiencing sustained growth in tourism settlements and greater regional visibility, the collaboration between private investment, international hospitality, and public policy becomes a central element for consolidating a more competitive offering. More than just a one-off announcement, the launch of Wyndham Garden Costa del Lago demonstrates a different way of understanding real estate development: as a tool to attract investment, retain tourists, and generate a greater economic impact within the country. Those wishing to learn more about unit types, availability, updated pricing, or purchase terms can complete the form at the end of this article. The developer will contact interested parties directly to provide personalized information and assist with the project evaluation process.

The increased weight of housing credit within GDP demonstrates a gradual process of institutionalization, banking and maturation of the Paraguayan real estate market. Banco Central del Paraguay Housing finance in Paraguay continues to consolidate a growth trend that transcends mere circumstance and is beginning to outline a structural change at the core of the local financial system. As of the end of December 2025, the total outstanding balance of housing loans granted by banks and finance companies reached G. 9,529,796,000,000. Expressed in US dollars at the official exchange rate of G. 6,585.55, this figure is equivalent to approximately USD 1.447 billion, a number that, due to its magnitude and relative weight within the economy, represents the highest level in recent years. This growth is neither isolated nor sudden. In December 2019, the total outstanding balance of housing loans stood at G. 3.33 trillion. By 2022, it had reached G. 5.63 trillion. In 2023, it rose to G. 6.70 trillion, and in 2024, it closed at G. 7.74 trillion. The 2025 figure represents a year-on-year nominal increase of nearly 23% compared to the previous year, confirming that the dynamism of mortgage lending not only held steady but accelerated within a context of increased real estate activity and macroeconomic stabilization. However, the most insightful data point is not the absolute amount, but its relationship to Gross Domestic Product. In 2019, housing credit represented just 1.36% of Paraguay's GDP. By 2022, that proportion had climbed to 1.84%. In 2023, it stood at 2.14%. In 2024, it reached 2.22%. By the end of 2025, housing finance was equivalent to 2.93% of GDP, marking the highest level of the observed period and demonstrating a sustained process of financial deepening. This increase of more than 1.5 percentage points of GDP over six years is significant. It implies that the financial system is allocating a growing proportion of resources to housing finance, suggesting greater formalization of the residential market, increased access to banking services for buyers, and greater confidence among financial institutions in the sector's stability. Even so, from a comparative perspective, Paraguay continues to show a low level of mortgage penetration compared to other countries in the region, where housing credit can easily exceed 10% of GDP and, in more developed economies, reach considerably higher figures. This reveals a dual interpretation: on the one hand, the recent expansion is significant and positive; on the other, the potential for structural growth is still substantial. The composition of financing also offers relevant elements for analysis. Of the total recorded in December 2025, 9.45 trillion guaraníes correspond to banks, while finance companies account for only 73.001 billion guaraníes. The share of finance companies, which exceeded 112 billion guaraníes in 2022, has progressively decreased in both absolute and relative terms. The growth of mortgage lending in Paraguay is being driven almost exclusively by the banking system, which reinforces the idea of greater institutionalization of housing finance. This banking dominance not only reflects greater funding capacity and risk structure, but also increasing professionalization in credit evaluation, mortgage structuring, and the integration of financing within the real estate value chain. For developers, this implies the need to structure projects with greater predictability, formality, and bankability, as access to credit for end buyers becomes a central component of absorption. The macroeconomic context is key to interpreting this trajectory. In recent years, Paraguay has maintained relative stability in inflation, fiscal discipline, and regulatory predictability—factors that constitute the structural support for long-term credit. Mortgage financing is, by definition, an intertemporal decision for both the bank and the borrower; it requires confidence in income stability, currency stability, and the institutional framework. The increased share of housing credit in GDP suggests that these elements have been sufficiently robust to allow for expansion. At the same time, credit growth is also linked to the dynamics of the formal real estate sector, which in recent years has shown greater sophistication in project design, more robust financial structuring, and a more tailored offering for bankable segments. The consolidation of developments geared toward buyers with access to the financial system, the expansion of residential projects in strategic urban areas, and increasing professionalization in the market have all contributed to expanding the demand for financing. However, the current level of 2.93% of GDP also raises strategic questions going forward. The challenge is not only to continue expanding the volume of credit, but to do so with portfolio quality, adequate risk management, and progressively expanding access without generating over-indebtedness or price bubbles. Regional experience shows that mortgage expansion is a powerful engine of urban development and economic growth, but it requires a balance between dynamism and prudence. From a real estate market perspective, increased access to credit has direct implications for project structure. As mortgage financing gains ground, the rate of absorption tends to depend less exclusively on pre-sales or investor buyers and more on the financed end buyer. This alters the business logic, the product profile, and the pricing strategy. Bankability ceases to be an accessory aspect and becomes a central element of project design. The growth observed between 2019 and 2025 reflects a cumulative trend that has persisted even in contexts of external volatility. If macroeconomic stability is maintained and the financial system upholds credit discipline, housing credit could continue to increase its share of GDP in the coming years.