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The sector is leaving improvisation behind and entering a stage where commercial discipline, data culture and experience management become determining factors of competitiveness. The Paraguayan real estate market is undergoing a maturation process that seemed improbable just a few years ago. What was traditionally a fragmented sector, sustained by personal relationships, business intuition, and decisions made on the fly, is now moving toward a more rigorous, methodical, and strategic structure. Competition is more intense, consumers are more demanding, and the country is more integrated into regional dynamics. In this new scenario, professionalization is no longer an abstract goal: it is a necessity for survival. For decades, the local real estate industry operated under an almost artisanal approach. Many projects were launched without thorough product validation, detailed demand analysis, and with sales strategies that relied more on the charisma of the salespeople than on a coherent system. Communication, meanwhile, relied on identical renderings and interchangeable slogans that failed to build brand awareness or differentiation. However, this model began to crumble as the market became more competitive and the Paraguayan buyer started to change. The new buyer is digital, informed, eager, and a comparison shopper. They research before speaking with an agent, visit multiple websites simultaneously, and demand clarity on prices, property types, timelines, and warranties. The pandemic and subsequent years accelerated this transformation: the home search became a more rational, researched, and less improvised process. Today, clients arrive at their first contact with a developer having viewed dozens of listings, read reviews, compared locations, and virtually toured competing projects. In such a context, improvisation is no longer a viable option. This consumer shift forced an evolution across the entire ecosystem. The first area to change was marketing, which ceased to be merely promotional and became a strategic business area. Communication moved away from generic images and became an exercise in branding, storytelling, and genuine content. Developers began to understand that a brand isn't built at launch, but much earlier: in the project's conceptualization, in the message's consistency, in the quality of the images, in communicating the differentiating factor, and, above all, in the ability to sustain a clear narrative. This understanding led to a growing demand for specialized studios, more professional agencies, and consultancies capable of combining creativity with analysis. But the most profound change wasn't in communication itself, but rather in how companies are beginning to use data. Paraguay, historically lagging behind in real estate metrics, is entering an era where measuring, comparing, and analyzing are becoming indispensable. The industry is starting to adopt tools to understand the cost of acquiring a lead, how many leads convert into visits, how many visits become bookings, how long it takes to close a sale, and what variables stand in the way. Concepts like CAC (cost of acquisition), LTV (customer lifetime value), campaign attribution, and behavioral segmentation were practically nonexistent just five years ago. Today, they are becoming part of the common vocabulary of companies seeking to compete at higher standards. This transition also revealed a telling discovery: most business problems in projects don't occur during the pre-sales phase, but rather in the customer service and follow-up process itself. Experiences gathered by various consulting firms show that Paraguayan buyers face frictions ranging from delayed responses to a lack of pricing clarity or inconsistencies between marketing and sales communication. A significant portion of lost sales isn't due to price or product issues, but rather to poor management. This diagnosis is forcing developers to rethink their internal structure, professionalize their sales teams, incorporate CRMs, standardize processes, and define response protocols. For the first time, customer experience is beginning to be seen as a strategic asset. The new cycle of professionalization is also evident in how products are designed. The notion of “product-market fit,” borrowed from the technology sector, is increasingly entering the real estate conversation. This means that a project can no longer be based solely on the vision of the developer or architect, but rather on data that reveals what the market truly wants. This process involves validating building types, sizes, prices, architectural programs, and amenities before the building even exists, which reduces risks and improves the likelihood of success. Developers who are adopting this approach are discovering that evidence-based design not only reduces costs but also better informs business strategy, construction timeline, and cash flow. The real estate market is also changing. Amenities are no longer an optional extra, but a crucial part of perceived value. Professionalism has also reached this area: simply filling floor plans with spaces no one will use no longer works. Buyers want real gyms, restaurants operated by third parties, functional coworking spaces, and wellness areas with programs, not just aesthetics. This is why the trend of outsourcing the operation of certain spaces to ensure quality and usability is growing. Restaurants operated by well-known brands, gyms managed by specialists, and hospitality services within residential buildings are signs of a market that is beginning to align itself with the practices of more advanced regions. Meanwhile, Paraguay is experiencing a geographical expansion of its real estate sector. For years, almost all investment was concentrated in Asunción; however, cities like Encarnación, Ciudad del Este, Hernandarias, Luque, Limpio, and Mariano Roque Alonso are showing growth that is forcing companies to adapt their business models to new urban realities, income levels, and consumer expectations. This decentralization process not only redistributes supply but also requires raising standards because competing outside of Asunción demands understanding different dynamics, adjusting products, and having better-trained teams. Technological advancements are also becoming a determining factor. The adoption of CRMs, automation, analytics software, and tracking tools allows developers to move beyond the traditional model of "folders, Excel spreadsheets, and one-off calls." Digitizing the sales process, from lead generation to closing, is becoming a key differentiator. In more developed markets, this digitization is the standard; in Paraguay, it is beginning to be adopted by those who understand that efficiency is not just about convenience, but about competitiveness. The result of all this movement is clear: the industry is no longer what it was ten or even five years ago. Expectations have risen, competition has become more sophisticated, and customers no longer tolerate subpar experiences. Professionalization is not a destination, but an ongoing process that redefines how a project is conceived, communicated, sold, and managed. Companies that embrace this trend as a core part of their culture will dominate the cycle that begins in 2026. Those that don't will be trapped in a model that no longer reflects market realities. Paraguay is entering a stage where the real estate sector is transitioning from a developing industry to a mature one. And maturity implies discipline, order, method, metrics, vision, and a new understanding of customer experience as a decisive factor. Professionalization, far from being just talk, is already the new frontier. And it will undoubtedly be the driving force that defines Paraguayan real estate in the coming years.

The new residential development is located on the riverfront facing the Paraná River, integrating itself into the urban transformation process of the Encarnación waterfront. Last Thursday, February 5, the city of Encarnación was the scene of the official launch of Paseo Mboi Ka'e, a new residential development promoted by CRESIA, developer of the Codas Vuyk Group, which is located in one of the most privileged locations in the south of the country: the first line facing the Paraná River, in the heart of the Mboi Ka'ẽ neighborhood. Paseo Mboi Ka'ẽ is strategically located in Encarnación, where the riverfront and the Paraná River landscape function as a natural extension of urban life. Its construction complements the development of the Encarnación riverfront, one of the main drivers of the city's urban and tourism transformation in recent years, integrating directly into the public space, the natural environment, and the existing infrastructure. Conceived from the outset to coexist harmoniously with the riverbank, the building takes advantage of its orientation and its relationship with the river to maximize natural light, open views, and cross-ventilation, creating a way of living that prioritizes well-being, daily connection with the surroundings, and a residential experience deeply connected to the landscape. Location is one of the development's key attributes. Paseo Mboi Ka'ẽ is just steps from the San Roque González de Santa Cruz International Bridge, offering views that encompass both the cities of Encarnación and Posadas, and is only minutes from the Costanera Shopping Center, the Sambadrome, and the city center. Adding to its appeal is its immediate proximity to Mboi Ka'ẽ Beach, renowned for its family-friendly atmosphere, tranquility, and scenic beauty, making the project an attractive option for permanent residence, second homes, or investment. The building spans eleven levels and houses a total of 84 residential units, offering a diverse range of layouts to suit various needs. These include studios starting at 34.61 m², one-bedroom apartments starting at 39.37 m², and two-bedroom units starting at 75.11 m², all designed with spatial efficiency, natural light, and views of the surrounding landscape in mind. The complex also includes 55 parking spaces and two full levels dedicated to amenities, creating a comprehensive and functional living space. The common areas reinforce the idea of a contemporary and flexible lifestyle. The project includes a swimming pool with a deck and solarium, a barbecue area, a gym, coworking spaces, and laundry facilities—services that support both new work dynamics and leisure routines. This combination of amenities positions the building as a competitive option in the local real estate market, in a context where the quality of common areas is becoming increasingly crucial in purchasing decisions. From a commercial standpoint, Paseo Mboi Ka'ẽ is already showing clear signs of market acceptance. More than 75% of the units were sold during the pre-sale phase, a performance that reflects both the project's appeal and buyers' confidence in the developer's track record and Encarnación's potential as a real estate market. The launch prices, starting at USD 52,582, reinforce this momentum, offering a competitive balance between location, construction quality, and projected appreciation. Construction is scheduled to begin in May of this year, with an estimated completion time of 36 months. The project will be carried out by the Codas Vuyk Group itself, ensuring consistency between the project's development and the group's renowned construction standards. The launch of Paseo Mboi Ka'ẽ also holds strategic significance within the expansion plan of the Codas Vuyk Group, through CRESIA, in the south of the country. This is the group's fifth project in Encarnación, a city where it already has three completed developments, one currently under construction, and now this new project, which reinforces its presence and commitment to the region's urban growth. With over 47 years of experience and more than 350,000 m² developed, the group maintains an active presence in Asunción, Ciudad del Este, and Encarnación, with projects that aim to contribute urban value, architectural quality, and long-term investment opportunities. With Paseo Mboi Ka'ẽ, CRESIA and the Codas Vuyk Group have consolidated a proposal that engages with the landscape, the city, and new ways of living, raising the standard of the Encarnación residential market. More than just a riverfront building, the project is presented as an urban element that complements the evolution of the riverfront and reaffirms Encarnación's potential as one of Paraguay's most dynamic real estate and tourism hubs. To receive detailed information about Paseo Mboi Ka'ẽ , please complete the form below or visit paseomboikae.com.py . A representative from the developer's sales team will contact you directly to provide further details and answer any questions.

The groundbreaking ceremony marks the beginning of a residential development that accompanies the urban expansion of the northern axis of the metropolitan area. Augusto Mengual, Rafael Gill, el Intendente de Limpio, Optaciano Gómez Verlangieri, Eduardo Pérez y Santiago Llano en la palada inicial de Altavida Norte, en la ciudad de Limpio. On February 6, 2026, in the city of Limpio, the groundbreaking ceremony was held for Altavida Norte, a new residential development spearheaded by Grupo Azeta and Altamira Group. The event officially marked the start of construction on a project that falls within a phase of significant urban expansion along the northern axis of the metropolitan area. The project aims to address a growing demand for housing with an affordable, well-located option, backed by business groups with a strong presence in the sector. The ceremony was attended by municipal authorities, headed by the mayor of Limpio, members of the Municipal Council, executives from both companies, representatives from the real estate sector, and members of the media. Beyond its formal nature, the day symbolized the definitive transition of Altavida Norte from its commercial phase to the physical construction of the project. Located steps from the recently opened Plaza Norte Shopping Center and the Abasto Norte complex, the project is situated in one of Limpio's fastest-growing urban corridors. Its immediate proximity to services, shops, consumer centers, and new infrastructure solidifies the area as a strategic location for both first-time homebuyers and investors looking to capitalize on appreciating properties. Over the past five years, this sector has seen the establishment of industries, the opening of new businesses, and the inauguration of new educational institutions, factors that reinforce the pressure on residential demand and the projected profitability. From a broader urban perspective, Limpio is beginning to emerge as one of Asunción's natural expansion zones. Improved connectivity, land availability, and the arrival of major commercial operators are reshaping its role within the metropolitan area, transforming it into an increasingly attractive territory for medium-scale developments with a city-oriented approach. Altavida Norte is planned as a residential complex comprised of two towers with 62 apartments each, totaling 124 units including parking spaces. The program includes studio and two-bedroom apartment layouts, designed to appeal to a broad market of both end buyers and investors. The development also features functional amenities, such as a recreational court and multipurpose barbecue areas, while its immediate proximity to the shopping center acts as a natural extension of daily services, reducing the need for long commutes and improving the quality of life for residents. One aspect that stands out is the sales performance prior to the start of construction. During the presentation, it was reported that over 65% of Tower 1 is already sold, a level of occupancy that reflects early market validation of the product. This performance positions Altavida Norte as one of the most dynamic residential developments in Limpio's new urban center and reinforces the perception that there is latent demand for well-located housing solutions with competitive entry prices. On the commercial front, the project is offered as a pre-construction sale, with prices starting at USD 33,990, accompanied by in-house financing options during construction, interest-free until delivery. This model aims to facilitate access to housing and, at the same time, offer investors a phased entry structure aligned with medium- and long-term investment horizons. The delivery of the first units is scheduled for December 2026, a timeframe based on a construction methodology already proven by Altamira Group. The developer will manage the project, utilizing the tunnel formwork system, the same one employed at Altamira Surubí'i, where six towers have already been built and delivered since 2021. This method allows for more efficient, organized, and rapid execution, optimizing time and costs without compromising construction quality, a key factor for meeting deadlines in projects of this type. Behind Altamira Group lies a business story marked by the union of two families: the Guareschi and the Gil. With Paraguayan roots and international experience, the Gil family, led by Rafael and Víctor Gill, decided to return to the country from Venezuela with a clear vision for investment and development. The alliance with the Guareschi family, linked to the construction and real estate development sector, gave rise to Altamira Group, which today boasts over nine years of experience in Paraguay and a portfolio of seven projects, including Altamira Ycuá Satí, Altamira Surubí'i, Altavida Luque, Alzara Plaza, Parque Alcántara, and Veralta Los Laureles. For its part, Grupo Azeta brings significant business backing. With over 70 years of experience, the group has established itself as a platform that integrates and enhances multiple business models in Paraguay. Its ecosystem includes iconic companies such as IDESA, Shopping del Sol, Shopping Mariscal, Abasto Norte, Shopping Mariano, and Abasto Este, among others. This experience in commercial and urban development is key for projects seeking to integrate organically into their surroundings. Altavida Norte is also part of Distrito Norte, an initiative that brings together developers, educators, and commercial operators with the goal of transforming the Luque–Mariano–Limpio corridor into a new planned urban axis. The proposal aims to coordinate efforts between the private sector, government, and civil society to support growth with adequate infrastructure, improved urban planning, and a shared long-term vision where economic development, family well-being, and sustainability advance in a balanced way. With the start of construction, Altavida Norte reaffirms its position as a reliable, well-located option, aligned with the sustained growth of Limpio and its surrounding area. The groundbreaking ceremony not only marks the beginning of construction but also the consolidation of a project that combines accessibility, quality construction, and orderly urban planning, in a context where the northern axis of the metropolitan area is beginning to play an increasingly prominent role in Paraguay's real estate development. To receive detailed information about Altavida Norte, please complete the form below. A representative from the developer's sales team will contact you directly to provide further details and answer any questions.

The 50-story mixed-use project enters the construction stage and consolidates a new phase for CIVIS. Today marked the start of construction on Aether by CIVIS, with collaborators and the developer's team in attendance. The commencement of construction signifies a new step in CIVIS's growth process and initiates the execution of a 50-story mixed-use project that, due to its scale and complexity, represents the company's most significant development to date. Aether is the thirteenth project in CIVIS' portfolio and marks a stage of consolidation and maturity for the developer, which is moving towards larger-scale projects with greater urban impact and a long-term vision. More than just an isolated milestone, the start of construction reflects a natural evolution of its development model and its positioning within the local real estate market. Conceived from its inception as a landmark project for the city, Aether integrates contemporary architecture, sustainability, services, technology, and a profound understanding of new ways of living, working, and connecting in vertical urban environments. Scheduled for completion in 2029, it forms part of CIVIS's strategic roadmap aimed at developing urban icons that support the country's growth with vision, responsibility, and long-term sustainability. The choice of location is based on a combination of urban, infrastructural, and strategic factors. The project is situated on one of the main access routes to the city, connecting Aviadores del Chaco Avenue with Molas López Avenue, in an area that has become the new financial and corporate center of Asunción. Public investment in road infrastructure and urban services has been crucial in creating conditions that allow developers to plan for the long term and take on challenges of this scale, highlighting the importance of coordination between the public and private sectors in urban transformation processes. Its proximity to major urban landmarks, such as Paseo La Galería and Shopping del Sol, reinforces the strategic importance of the location, solidifying its position as a key hub for both local residents and international visitors. Furthermore, the presence of the country's tallest tower in the area has contributed to the formation of a cluster of high-rise buildings, within which Aether is emerging as a new landmark, poised to become the tallest building in the area and a key element of the Asunción skyline. In commercial terms, the project comprises a total of 240 residential units. At the start of construction, Aether has reached a sales level of approximately 80%, with limited availability of one-bedroom units, few two-bedroom options, and a small number of duplex penthouses. This sales performance confirms the product's strong appeal and the market's interest in high-quality residential offerings integrated with a range of services and amenities on a scale unprecedented in the country. More than just a building, Aether is conceived as a comprehensive vertical experience focused on well-being, productivity, and social connection. The project dedicates over 2,250 square meters to common areas, distributed across more than 35 amenities, redefining the concept of high-rise living and prioritizing both the physical and emotional well-being of its residents. The architectural design seeks to balance comfort, aesthetics, and functionality, incorporating spaces that invite serenity, movement, and shared living. The tower will feature four levels dedicated to common areas, making it the skyscraper with the highest proportion of amenities per square meter in the Paraguayan market. On the ground floor, Aether will include a selection of restaurants and a five-star restaurant of over 500 square meters, designed for 120 diners and offering room service for residents, reinforcing its mixed-use development character and its integration with the surrounding urban dynamics. On level seven, located on the transition slab between the parking garage and the main tower, one of the most comprehensive sets of amenities in the country will be concentrated. This level will house areas focused on holistic well-being, organized into interconnected themed zones. The so-called Green Zone will function as a natural elevated park, incorporating a swimming pool for adults and children, a bar, a solarium, relaxation areas, a jacuzzi area, a massage room, an outdoor calisthenics gym, outdoor play areas, and designated pet areas, all surrounded by native vegetation that reinforces the project's environmental identity. In parallel, the Wellness Zone will be dedicated to physical and mental well-being, with a fully equipped indoor gym, a spa area, a hair salon, massage rooms, and saunas, conceived as an urban haven of serenity and contemporary design. Aether's social spaces include areas dedicated to entertainment and community life, such as a movie theater, a clubhouse with a golf simulator, a pool table, arcade machines, a vending machine, a video game room for teenagers, a children's playroom, and air-conditioned lounges with grills for private gatherings. In addition, there is a tasting room designed for gastronomic and wine experiences, elevating the building's social offering to a standard rarely seen in the local market. Construction quality and the selection of amenities are central to CIVIS's value proposition. In a context where the developer's role is becoming increasingly complex, technical and financial management must respond to concrete market expectations and new demands related to quality of life, efficiency, and sustainability. In this sense, Aether seeks to materialize a coherent solution encompassing design, execution, and long-term use. From an environmental perspective, the project will be EDGE certified, an international standard that recognizes buildings designed for efficiency in the use of energy, water, and materials. This certification implies a significant reduction in energy and water consumption, efficient use of construction resources, lower operating costs over time, increased property value, and alignment with international responsible investment criteria. The addition of EDGE reinforces CIVIS's commitment to a more conscious approach to construction, better prepared for future urban challenges. In terms of services, Aether will incorporate a premium offering focused on optimizing user time and convenience. Building management will be handled by Hostpy, a company recently acquired by the CIVIS group, which will provide comprehensive professional management of the condominium. Owners will also have access to rental management solutions for both traditional and short-term leases, making the units operationally efficient assets for investors. The project has the structural backing of CIVIS's FAII, a scheme that provides greater security, transparency, and financial organization for investors. Through fiduciary vehicles, the project's assets, including the land, investments, and backing capital, are structured into independent trusts, separate from the company's other developments. This model aims to guarantee the protection of invested capital and ensure that resources are effectively transformed into the promised assets, consolidating a framework of predictability and confidence. The construction of Aether will be carried out by Codas Vuyk, with oversight by FiscaPro, while the design and outfitting of spaces will be developed by Better Space and Networkers. This collaboration between specialized companies is part of the comprehensive approach that CIVIS applies to its developments, integrating design, technology, furnishings, and construction solutions under a single vision. This year, CIVIS plans new launches in Asunción and developments in the south of the country, advancing its national expansion plan and its positioning as a comprehensive real estate investment platform. Aether thus aligns with a clear roadmap, focused on generating urban, social, and economic value, supporting Paraguay's growth with a long-term vision. Looking ahead, the developer anticipates an evolution of its business model, moving from one-off interventions to larger-scale projects focused on developing entire urban areas with mixed uses that integrate housing, offices, hotels, retail, and urban amenities. This approach entails greater collaboration with public entities and a greater ambition for a more profound urban impact. In parallel, CIVIS is working on a capital opening and expansion process, with a five- to ten-year strategic vision that includes its projection as a developer with regional and international reach. From Paraguay, the company seeks to bridge the gap between local practices and more advanced market development models, focusing on architecture, management, and financial structures aligned with global standards. The start of construction of Aether by CIVIS not only marks the beginning of a large-scale project, but also synthesizes a vision of the city, the company, and the future, in which real estate development is conceived as a tool to transform the urban environment and responsibly and sustainably support the growth of the country. To receive detailed information about the Aether by CIVIS project, please complete the form below. A representative from the sales team will contact you directly to provide further details and answer any questions.

Practical guide on legal requirements, documentation and deed registration process Real estate transactions in Paraguay are governed by a legal and registration framework that establishes specific documentary requirements for both domestic and foreign buyers. While the country does not impose nationality restrictions on the acquisition of urban properties, the transaction requires verification of the buyer's identity, the legal status of the property, and the proper notarization and registration of the transfer. Knowing in advance which documents are involved in the process is key to ensuring that the operation is carried out in an orderly, transparent manner and in accordance with current regulations. Compliance with SEPRELAD Regulations Within the framework of real estate transactions, the purchase and sale of properties in Paraguay is subject to the anti-money laundering and counter-terrorism financing regulations established by SEPRELAD. Notaries, real estate agencies, and other obligated entities must apply due diligence procedures to identify the buyer and verify the lawful origin of the funds used in the transaction. In practice, this may involve requesting declarations of the source of funds, supporting documentation such as contracts and proof of income, and, in certain cases, additional information for larger transactions, non-resident buyers, or corporate structures. These requirements are not part of the registration process itself, but are necessary to comply with current regulations and enable the execution of the public deed. Compliance with SEPRELAD requirements is now a common step in the buying and selling process and should be considered part of the normal documentation process for a formal real estate transaction in Paraguay. Buyer Documentation The starting point is personal identification. Paraguayan citizens must have a valid national identity card. Foreign buyers can purchase real estate with a valid passport, without needing permanent residency in the country. In practice, notaries verify that the identity documentation is valid and in good condition at the time of the transaction, especially in the case of non-resident buyers. To purchase property in Paraguay, a criminal record check is not a direct legal requirement on the deed. However, as part of due diligence and regulatory compliance procedures, criminal record certificates and/or credit or judicial reports may be requested in certain transactions, especially when the financial system is involved, the buyer is a non-resident, or aspects related to the free disposal of assets are being analyzed. It is also common to request proof of marital status, such as a certificate of single status or a marriage certificate, apostilled if issued abroad. This is key to defining the applicable property regime and avoiding future disputes regarding ownership of the property. Legal Documentation of the Property The central document in any transaction is the title deed, which must be properly registered with the General Directorate of Public Registries. The notary is obligated to verify that the seller is the legitimate owner and that a valid chain of ownership exists. In addition, there is the certificate of ownership or certificate of encumbrances, which confirms that the property is free of mortgages, liens, injunctions, or other restrictions that would prevent its transfer. This point is critical: buying without this verification exposes the buyer to serious financial risks. For urban properties, an approved cadastral map is usually also required, as well as proof of being up-to-date with property taxes and municipal levies. In some municipalities, the notary's office expressly requests a municipal debt certificate or a certificate of no outstanding debt as a prerequisite for signing the deed. Contracts and Formalization of the Purchase In many transactions, especially those involving deferred payments or reservations, a private purchase agreement is signed beforehand , with signatures certified by a notary. This agreement establishes the price, payment method, terms, and conditions, but does not transfer ownership. The transfer is only effective through a public deed , executed before a notary public and subsequently registered in the corresponding registries. This act is equivalent to the registration transfer form and is what legally consolidates the purchase. Taxes, Fees and Registrations To complete the transaction, proof of payment of all taxes and fees related to the property must be provided. This includes up-to-date property taxes and, in some cases, specific municipal taxes. While capital gains tax is typically the responsibility of the seller, the buyer should ensure there are no outstanding debts that could affect the registration. Special Considerations for Foreign Buyers Paraguay grants equal rights to foreigners and nationals to purchase urban and rural real estate. The only relevant restriction applies to rural properties located within 50 kilometers of the border, which require authorization from the Executive Branch. The purchase can be made without being physically present in the country, using a power of attorney granted abroad, provided it is properly apostilled or legalized. This mechanism is widely used by regional investors. Having a local bank account is not a legal requirement, but it usually facilitates payments, transfers and subsequent operations, especially in cases of rental or resale. Acquiring property in Paraguay requires fulfilling a series of documentary requirements to guarantee the legal validity of the transaction and the proper registration of the property in the buyer's name. Reviewing the property title, verifying encumbrances, formalizing the transaction through a public deed, and complying with tax obligations are key stages of the process. Having professional advice during the purchase and sale facilitates compliance with these requirements and helps to reduce legal and registration risks associated with the transaction.

The growth of tourism, international mobility and air connectivity reinforce the context of economic and urban activity. Paraguay closed 2025 with record figures in tourism and international mobility, consolidating a trend that extends beyond the tourism sector and is part of a broader context of increased urban economic activity and demand for services. The results were presented by the Minister of Tourism, Angie Duarte, the National Director of Migration, Jorge Kronawetter, and the head of DINAC (National Directorate of Civil Aeronautics), Nelson Mendoza Rolón, who all emphasized the positive impact of public policies aimed at strengthening connectivity, international promotion, and the institutional framework of the sector. Last year, the country received a total of 3,657,194 visitors, of which 2,029,678 were tourists and 1,627,516 were day-trippers, a segment that registered a year-on-year growth of 39%. Within this context, Paraguay recorded a historic 91.24% increase in international tourist arrivals in 2025, confirming the magnitude of the regional surge in tourism and a broadening of the visitor profile, with more diversified stays and greater consumption of urban services. From the perspective of source markets, Argentina remained the leading origin of visitors, accounting for 79.98% of arrivals, followed by Brazil with 10.14%, the United States with 1.09%, and other countries that, together, represented approximately 9% of the total. This composition reinforces the importance of regional tourism, but also demonstrates a slow diversification toward markets with higher average spending. In economic terms, tourism generated approximately USD 1.422 billion in revenue, boosting key sectors such as hotels, restaurants, transportation, commerce, and handicrafts. This impact is further enhanced by the indirect effect on the real estate market, particularly in areas with a high concentration of services, corporate hubs, city centers, and established tourist destinations, where the demand for short-term rentals, urban hotels, and short-stay accommodations continues to expand. Meanwhile, the National Directorate of Migration reported a record 47,600 residency applications in 2025, representing a 63% increase over the previous year. Of these, 34,875 were for temporary residency, a clear indication of the growing number of foreigners choosing Paraguay as their home base, whether for work, business, tax, or quality of life reasons. The trend continued into early 2026. According to Kronawetter, 2,817 applications were registered in the first 20 days of the year alone, 79% more than in the same period of 2025, anticipating another year of strong migration growth. This sustained influx is beginning to emerge as a significant factor in the housing market, especially in Asunción. To meet this growing demand, the Immigration Department plans to launch a digital system by mid-year, developed in conjunction with the Ministry of Information and Communication Technologies (MITIC), which will streamline residency applications and enhance the transparency of the process. Administrative modernization is seen as a key factor in supporting this growth without creating institutional bottlenecks. From a tourism management perspective, the report presented by Minister Duarte highlights the implementation of the "Good Host" campaign on more than 138 occasions, the holding of 236 events within the MICE (Meetings, Incentives, Conferences, and Exhibitions) segment, and an estimated economic impact of USD 500 million associated with meetings tourism and its logistics. This is complemented by the strong performance of domestic tourism, generating USD 195 million and involving more than 1.2 million Paraguayans traveling during long weekends and national holidays, which explains a 103% increase in tourist flow as of November 2025 compared to the same period of the previous year. In terms of air connectivity, 2025 marked significant progress with the opening of new routes to Salta, Córdoba, and Buenos Aires, seasonal service increases to Rio de Janeiro, Florianópolis, and Punta del Este, and increased frequencies for Air Europa, which currently operates seven weekly flights between Asunción and Madrid. This strengthening of the air network not only boosts tourism but also improves the country's competitiveness for investment, international events, and foreign residency. Finally, the transfer of the Encarnación airport to DINAC was highlighted as a strategic step toward its future conversion into an international airport. This measure has a direct impact on the tourism and urban development of southern Paraguay, opening new opportunities for hotel, residential, and service projects in a region with strong growth potential. The increase in tourist traffic and the growth in residency applications are part of the overall context in which the real estate market operates, particularly in the rental segment. The greater presence of visitors and temporary residents is reflected in a sustained demand for housing units in established urban areas, where proximity to services, connectivity, and urban amenities is a determining factor. This trend is most evident in cities that concentrate economic, administrative, and tourist activity. Taken together, the figures confirm that tourism, migration, and air connectivity are shaping a new scenario for Paraguay, with effects that are beginning to be felt beyond the tourism sector and are projected onto urban dynamics, territorial planning, and the real estate market as a whole.

Indicators of activity, credit, inflation and monetary policy create a framework of growth and greater predictability for the Paraguayan real estate sector. The end of 2025 presents a macroeconomic picture that confirms the continuation of an expansionary phase in the Paraguayan economy, with indicators of activity, consumption, and credit showing performance above the recent historical average. This context is particularly relevant for the real estate sector, which depends directly on both the economic cycle and the financial conditions and confidence of market participants. Paraguay's Monthly Indicator of Economic Activity (IMAEP) registered a year-on-year expansion of 4.0% in November, a figure that remains positive even when excluding agriculture and binational entities, which saw growth of 2.9%. This growth was primarily driven by the services sector, the electricity and water component, and agricultural and livestock activity, while the manufacturing industry showed a slight slowdown. In cumulative terms, the IMAEP closed the year with a variation of 5.8%, consistent with an economy projected to end 2025 growing at around 6.0%. For the real estate market, this dynamic has a clear interpretation: the sustained growth of the services sector, which concentrates urban employment, middle and upper incomes, and business activity, reinforces the structural demand for housing, offices, and commercial spaces, especially in Asunción and its metropolitan area. Economic expansion is not driven by a single engine, but rather by a diversified base, which reduces cyclical volatility and provides greater predictability for medium- and long-term investment decisions. Meanwhile, the Business Turnover Estimator (BTE) showed a year-on-year increase of 6.3%, driven by strong sales of clothing, vehicles, chemical-pharmaceutical products, and household goods, among other sectors. With this result, the cumulative growth of the BTE reached 6.1% in 2025. This indicator, closely linked to private consumption and retail turnover, typically anticipates changes in the occupancy of retail spaces, warehouses, and logistics facilities, as well as a greater propensity among households to take on longer-term financial commitments, such as home purchases. The evolution of the Consumer Confidence Index, which stood at 51.7 points in December, reinforces this interpretation. While not an exceptionally high level, it remains within a zone of moderate optimism, sufficient to support durable goods consumption and household investment decisions. For the real estate sector, confidence is a key input: it not only determines the rate of absorption of residential units, but also the depth of financing options and the acceptance of projects in the pre-construction phase. One of the most relevant factors in the current scenario is the evolution of credit. In November, the outstanding balance of loans to the private sector grew 15.5% year-on-year, excluding exchange rate effects, driven by both loans in local currency, which increased 13.9%, and those granted in foreign currency, which grew 18.8%. This credit expansion is occurring in a context of active interest rates in local currency averaging 16.0%, while passive rates are around 6.3%. From a real estate perspective, this credit growth has multiple implications. On the one hand, it improves access to mortgage financing for end buyers, especially in the middle and upper-middle segments. On the other, it expands the funding capacity of developers and builders, allowing them to structure larger-scale projects with longer terms and less reliance on equity. The combination of expanding credit and macroeconomic stability reduces the sector's systemic risk and fosters greater professionalization of investment strategies. In terms of prices, inflation showed particularly benign behavior toward the end of the year. The Consumer Price Index registered a negative monthly variation of -0.3% in December, mainly influenced by the drop in prices for food, fuel, and durable goods. Year-on-year, headline inflation closed 2025 at 3.1%, while core inflation, excluding food and energy, stood at 2.3%. Inflation expectations remain anchored around 3.5% for both the next twelve months and the monetary policy horizon. This environment of controlled inflation is especially relevant for the real estate sector. On the one hand, it helps preserve the purchasing power of incomes and households' ability to pay. On the other, it reduces uncertainty in construction costs, a critical factor in the financial viability of developments. While certain services continue to show upward adjustments, the moderation of goods inflation allows for more stable margin projections and longer-term contracts with less risk of mismatch. Looking ahead to 2026, projections point to GDP growth of 4.2%, primarily driven by the expected strong performance of the service and manufacturing sectors. In this context, the Central Bank of Paraguay, through its Monetary Policy Committee, decided to reduce the monetary policy rate by 25 basis points, from 6.00% to 5.75% annually, maintaining a neutral stance. This decision provides an additional incentive for financing without compromising price stability. For the real estate market, the reduction in the benchmark interest rate tends to gradually translate into higher lending rates, improving access to mortgage credit and lowering the financial cost of new projects. In a context of anchored inflation expectations and sustained growth, this adjustment reinforces a favorable scenario for real estate investment, although persistent challenges remain related to construction efficiency, the actual absorption of demand, and the quality of the product offered. In summary, the Paraguayan real estate market begins 2026 operating within a consistent macroeconomic framework: expanding economic activity, dynamic credit, contained inflation, and a slightly expansionary monetary policy. While the external environment and sector-specific costs will continue to be variables to monitor, the overall picture remains favorable for the development, investment, and consolidation of projects, especially those aligned with effective demand and a realistic assessment of the economic cycle.

Located on a strategic axis of Luque, the development begins its construction phase in a context of urban growth, new public investments and metropolitan connectivity. Today, January 29th, RIZ Desarrollos held the groundbreaking ceremony for Porta 04 Monte Alto, its fourth real estate development in the country. The event was attended by clients, collaborators, advisors, and various stakeholders in the real estate sector. This groundbreaking marks the beginning of the construction phase for a project that aligns with the sustained growth of the residential market in the city of Luque. Located on Monte Alto and Valdey Rivarola streets, just one block from General Aquino Avenue and a short distance from Ñu Guasu, Porta 04 occupies a strategic location that has seen significant recent growth in public and private infrastructure. The site directly benefits from the expansion of General Elizardo Aquino Avenue and Route D025, projects integrated into the Las Residentas Road Corridor, as well as the planned access routes to Nueva Colombia and the PY02 highway via San Bernardino, Areguá, and Ypacaraí. This road network forms part of the Structuring Access Road Network, an investment package exceeding US$441 million in Luque and its immediate surroundings, aimed at optimizing metropolitan traffic flow and supporting urban expansion. In this context, Porta 04's location not only guarantees efficient connectivity with Asunción and the main cities of the metropolitan area, but also proximity to emerging hubs such as the CONMEBOL complex, the corporate district, the international airport, and a growing number of shopping centers, hotels, and educational institutions. It is an environment that supports both permanent residential use and investment schemes geared toward both short-term and traditional rental income. The development will have a constructed area exceeding 16,000 square meters and will consist of 266 apartments distributed across a seven-story tower. The project offers five unit types defined according to market demand: studios starting at 30 m², Classic one-bedroom units of 38 m², PRO one-bedroom units of 39 m², and two-bedroom apartments of 60 m² and 65 m². All units include a balcony, prioritizing functional layouts and optimized spaces for residential use and for rental on platforms such as Booking.com or Airbnb. With approximately 70% of the project already sold at the start of construction, the market response reflects the sustained interest in Luque and in compact, functional and well-located building types. Regarding the common areas, the building incorporates an array of amenities aligned with typical standards for urban developments in this segment. The program includes a swimming pool with a sundeck, a fully equipped gym, a yoga space, a coworking area, a laundry room, recreational areas, and both indoor and outdoor barbecue areas. These areas are designed to support the building's daily use and maintain its appeal to the rental market. In the facade and architectural design, the project includes a selection of materials and finishes geared towards durability, maintenance efficiency and preserving the value of the building over time, in line with the criteria applied by RIZ in all its developments. In terms of pricing, units currently start at $38,400 cash, with in-house financing options of up to 10 years and the possibility of accessing bank financing. The estimated construction time is 26 months, with delivery expected in February 2028. A key component of the project is the professional rental management by Zilo, which will optimize the operational management of the building and the rental units. This arrangement positions Porta 04 as a turnkey product, where the developer not only builds and delivers the property, but also supports the investor in the asset's management. The development is being handled by RIZ Desarrollos, a firm with two completed projects, one currently under construction, and new launches planned for the near future. Their approach focuses on creating real estate assets designed to maintain value over time, integrating not only development and construction, but also after-sales services, rental management, and investor support throughout the project's lifecycle. The construction is being carried out by Codas Vuyk, a company with over four decades of experience in the local market, recognized for its technical expertise and its contribution to the country's urban development. Their involvement provides additional assurance in terms of construction quality and predictability in the project's execution. Within this framework, Porta 04 Monte Alto fits into RIZ's ongoing strategy, aligned with Luque's progressive growth and the consolidation of well-connected residential areas within the metropolitan region. The project thus joins a growing portfolio of mid-rise buildings that support the city's urban expansion, in a context of infrastructure improvements and sustained demand for housing geared towards both residential use and rental income. For those who wish to learn more about the project and its sales terms, please complete the form at the end of this article. The Porta 04 development team will contact you directly to provide personalized information.

A project that combines a consolidated location, technical design and investment logic geared towards rental and capital gains. The Asunción real estate market is undergoing a period of consolidation, driven by a combination of macroeconomic stability, urban growth, and sustained rental demand in strategic areas. Within this context, Villa Morra continues to position itself as one of the most attractive hubs for real estate investment focused on rental income and appreciation. It is in this context that ProInvest presents First Element , a new development that starts from a clear premise: the apartment intended for rent must be conceived as a technical product, designed to optimize occupancy, rate and operating costs, without losing sight of its ability to capture added value in one of the areas with the greatest urban traction in Asunción. First Element is located in the Villa Morra business district, an urban area where banks, offices, restaurants, services, and shopping centers converge, and where the daily activity sustains both long-term and short-term rentals. It is a well-established environment that reduces dependence on future projections and allows us to work with real, current, and measurable demand. From an urban planning perspective, the project is located at the corner of Senador Huey Pierce Long and Guido Spano, half a block from Avenida Mariscal López, one of the city's main thoroughfares. The location is further enhanced by its immediate proximity to shopping centers, major transportation hubs, and a high concentration of services, including banks, supermarkets, hospitals, pharmacies, restaurants, and cafes, as well as corporate buildings that ensure a constant flow of users and residents. To support this interpretation of demand, ProInvest conducted a survey of people working in Villa Morra, with a deliberately specific question: whether they would be willing to pay Gs. 2,800,000 for a studio apartment without parking, in exchange for living within walking distance of their workplace and having access to a building with amenities and services. The survey revealed a clear pattern: in a context where a significant proportion of workers report incomes of six million guaraníes or more, the decision to rent is linked less to housing as an expense and more to quality of life, time savings, and reduced daily stress associated with traffic. In this sense, congestion ceases to be an abstract problem and becomes an economic and mental cost that drives demand for walkable and well-connected areas. In addition to this structural demand, there is another layer that the local market has been feeling with increasing intensity: the growth of events and tourism. ProInvest points out how certain recent milestones, such as sporting events, international summits, and major cultural shows, generated occupancy peaks and allowed for price increases in short-term rentals when the city's capacity was limited. The interpretation is clear: Villa Morra not only concentrates daily activity but also consolidates itself as a preferred area for stays when Asunción receives extraordinary influxes. From an investment perspective, this phenomenon does not replace permanent demand, but it does amplify it at specific times. First Element is envisioned as a 25-story building, developed on a 2,630 m² plot, with a front setback of approximately 1,000 m² that preserves existing green space and creates a plaza-like facade facing the street. Beyond its landscaping function, this setback serves as a distinguishing feature in a neighborhood where green spaces are scarce and urban respite areas tend to be highly valued in the daily experience of the user. Regarding unit types, ProInvest reported designs to minimize unproductive square footage and maximize interior efficiency. The proposal includes studios of approximately 23.38 m², one-bedroom apartments of 43.15 m², two-bedroom units of 57.90 m² (with one or two bathrooms), and three-bedroom apartments of 91.70 m². The design criteria directly target rental performance: bedrooms sized for large beds and comfortable circulation, based on the premise that a better guest or tenant experience translates into better reviews, less occupancy friction, and a greater ability to sustain rates over time. The amenities scheme follows this logic, with a clearly defined limit: not compromising operating costs. Drawing on experience gained from previous projects, ProInvest designed attractive common areas for users, such as a swimming pool, gym, coworking spaces, barbecue areas, meeting rooms, children's areas, terraces, and relaxation zones, without exceeding a percentage of non-saleable areas that would negatively impact maintenance fees. For First Element, the firm projects an approximate cost of USD 1.15 per square meter of private space. Regarding the delivery specifications, the project includes a package of finishes and equipment designed to facilitate rentals from day one: a furnished kitchen with a cooktop and range hood, granite countertops, hot and cold water faucets, bathrooms with tempered glass shower enclosures, air conditioning, porcelain tile floors, closets, installed lighting, and electronic locks with Wi-Fi connectivity. This last point is key for remote management of the units, especially in scenarios of short-term rentals and high turnover. The schedule anticipates the start of construction in July of this year and an estimated delivery date of July 2029, under an internal standard that the developer defines as non-negotiable: construction quality and compliance with deadlines. ProInvest is a developer founded by investors with a focus on rental-oriented projects. From its first venture, First Living, launched in 2021 and largely sold before construction began, to subsequent developments such as First del Sol, First Mariscal, and First Morra, the firm has established a track record marked by high levels of pre-sales and fulfillment of its commitments. The company specializes in projects based on three core principles: strategic location, compact apartments, and controlled maintenance fees. In addition, it offers a distinctive feature within the local market: the partners themselves invest in the units they develop, aligning interests and reinforcing the model's credibility. The construction of First Element will be carried out by Benítez Bittar, a firm with more than 34 years of experience, more than 526,070 m² projected and a presence in ten cities in the country, recognized for its focus on quality, processes and after-sales service. In short, First Element presents itself as a coherent piece in line with ProInvest's approach: a consolidated location, housing types aligned with real demand, controlled operating costs, and a data-driven investment narrative. In Asunción, where Villa Morra continues to concentrate activity, services, and preferred accommodation, the project aims to transform that urban center into sustainable income, with an asset that also seeks to capture appreciation over time. For those who wish to learn more about the project and its sales terms, please complete the form at the end of this article. The First Element development team will then contact you directly to provide personalized information.

The regulatory, technical and operational keys to the implementation of the RUN, the new Unique Cadastral Registry Identification Code and its impact on the legal security of the real estate market. The implementation of the Registro Unificado Nacional (RUN) represents one of the most significant structural changes to the Paraguayan legal and real estate system in decades. Through a regulatory process comprised of two complementary resolutions issued by the Supreme Court of Justice in December 2025, the country is initiating a profound transformation in how real estate and associated property rights are identified, registered, and publicized. This new scheme is not simply an administrative update. It represents a complete reconfiguration of the land registry and cadastral system, with a direct impact on legal certainty, property traceability, the efficiency of procedures, and the predictability necessary for an increasingly complex and sophisticated real estate market. The process is based on two regulatory instruments: on the one hand, Resolution No. 1824/2025, which establishes the general provisions for the implementation of the Registro Unificado Nacional ; and on the other hand, Resolution No. 1823/2025, which approves the Technical Cadastral Registry Regulations governing its operational functioning. Together, they form the new institutional framework of the Paraguayan real estate registry. It should be noted that this technical regulation has been provisionally approved for a period of one year, starting on January 14, 2026, and comprises 231 articles. This approach reflects a logic of gradual implementation and operational adjustment, allowing the new system to be consolidated based on the practical experience of its first year of operation, without affecting its validity or its binding nature. Resolution No. 1824/2025 serves as a framework regulation. It implements Law No. 7,424/2025, formally creating the National Unified Registry as a technical and administrative body under the Judicial Branch, with direct oversight from the Supreme Court of Justice. The Judiciary assumes a central role not only in conflict resolution but also in the comprehensive management of the land registry and cadastral system, absorbing and reorganizing functions that were historically dispersed among different departments. The National Registry of Properties (RUN) integrates, under a single structure, the responsibilities related to public registries, the national cadastre, and the technical aspects of territorial identification of properties. This centralization responds to a structural weakness long pointed out by the real estate sector: the lack of coherence between cadastre and registry, the duplication of data and the absence of a unique identifier that allows a property to be unequivocally linked to its legal status. The Agreement also establishes the organizational, financial and technological bases of the RUN, defining its basic structure, the management of judicial fees, the budget administration and the obligation to maintain an updated, public and accessible information system through the institutional portal of the Judiciary. One of the most relevant elements introduced by Resolution No. 1824 is the creation of the Unique Cadastral Registry Identification Code (CUICR), which will be assigned to each property in the country, whether urban or rural, public or private. The CUICR is conceived as a unique identification tool, designed to eliminate historical ambiguities in the individualization of parcels. The code integrates geographic, parcel, and registry information into a single alphanumeric structure, allowing for the precise identification of the location, configuration, and type of property, as well as its connection to the property registry. The transition to the CUICR is not conceived as a massive and immediate regularization of the existing real estate stock, but as a progressive, gradual and non-disruptive process, designed to preserve legal continuity and avoid the paralysis of the registration system. The CUICR is incorporated into the procedures that enter the National Unified Registry. Every time a property is subject to a registration act, whether it be an entry, annotation, modification, rectification, or cancellation, the system assigns or validates the corresponding code, integrating the available cadastral and registry information. This approach means the transition occurs in accordance with the natural dynamics of the real estate market, without requiring general re-registrations, new automatic surveys, or a mass review of existing titles. Properties with no recorded activity remain fully valid and retain their historical identifiers until they are eventually entered into the system through a new process. During this period, the CUICR coexists with traditional identifiers. The new code does not invalidate or replace the previous information, but rather consolidates and organizes it, preserving the historical chain of identification, one of the most sensitive aspects from the point of view of legal certainty. The assignment of the CUICR (Unique Property Identification Code) is also centralized and administrative. It is not generated by the property owner or the professional involved, but by the technical areas of the RUN (National Registry of Property). The Cadastre Directorate is responsible for the geographic and parcel identifiers, while the Real Estate Registry Directorate assigns the registration identifier. This distribution of responsibilities aims to guarantee uniformity, avoid discretionary practices, and ensure technical consistency throughout the national territory. From a real estate perspective, this change is structural. Unique identification reduces the risk of overlaps, surveying errors, inconsistencies between plans and titles, and conflicts arising from imprecise descriptions, which have historically been a source of litigation and delays in real estate transactions, financing, and development. The implementation of the RUN relies on an integrated technological system that links the Registry Management System (SIGRE) with the Judicial Branch's platforms for fee calculation and payment. The Resolution establishes clear rules for electronic processing, the authorization of professional users, and the standardization of digital documentation. The procedures must meet precise technical requirements regarding formats, resolution, file size, and legibility criteria, incorporating standards that aim to ensure the quality of the information entered into the system. In exceptional cases, alternative mechanisms with subsequent auditing are foreseen, but always preserving the traceability of the process. This technological approach is not limited to speeding up procedures. It introduces a model of control, uniformity, and transparency, with a direct impact on the predictability of registration times and the reduction of operational discretion. While Resolution No. 1824 defines the institutional architecture of the system, Resolution No. 1823/2025 fulfills a different but essential function: it approves the Technical Cadastral Registry Regulation of the National Unified Registry, which regulates in detail the daily operation of the system. This technical regulation comprehensively establishes the procedures for the presentation, qualification, registration, and publication of registry acts. It defines the formal and substantive requirements for documentation, processing times, registration priority criteria, and the methods for correcting, rectifying, or canceling entries. It also precisely regulates the system of public registration, differentiating between certificates, reports, and copies of entries, and establishing the legal effects of each. This systematization is key to reducing ambiguous interpretations that have historically generated conflicts in complex real estate transactions. The regulations also incorporate a detailed system of administrative appeals against negative comments or ratings, establishing clear procedures and defined deadlines, which introduces greater predictability for professionals and users of the system. Another key aspect of the new regulatory framework is the creation of the Registry of Surveyors and Topographers, which is enabling and mandatory for professional practice throughout the national territory. The new registration system does not exclude one of the most widely used instruments in the real estate market: the purchase agreement, both in condominium developments and land subdivisions. The National Unified Registry maintains and strengthens the Special Registry for Purchase Agreements, integrating it into the general system without altering its legal nature. The registration of a ticket continues to fulfill its essential function of providing publicity and enforceability against third parties for a personal right, without implying the creation of a real right or its equivalence to ownership. The RUN (National Registry of Property) does not modify this logic, but organizes it within a more coherent and traceable structure. In the case of units under horizontal property ownership, the purchase agreement is registered linked to the parent property and, where applicable, to the planned or future unit, even if it does not yet have an individualized property title. At this point, the CUICR (Unique Identification Code for Condominium Ownership) allows for more precise identification within the system, reducing contractual ambiguities and strengthening the traceability of rights. In subdivisions, the system is similar. The deed is registered in conjunction with the larger property and the planned lot, according to the approved plan, without this implying the immediate creation of a separate property. The new system allows this connection to be clearly registered and then seamlessly linked to the final identification of the lot. Integrating ticket registration into the RUN substantially improves the documentary continuity between the contractual stage and the registration of the definitive real right, something especially relevant in medium and large-scale developments, where pre-sales constitute a central financing tool. Resolution No. 1824 regulates the registration requirements, the five-year validity of the registration, the revalidation processes and a detailed disciplinary regime, which places these professionals under the supervision of the Supreme Court of Justice. From a real estate market perspective, this system has a direct impact on its reliability. Plans, surveys, and technical documents form the basis for titles, developments, and guarantees. Raising the technical and ethical standards of these professionals strengthens the overall system. The implementation of the Unified National Registry is not an immediate change, nor is it without operational challenges. However, its structural scope is undeniable. The integration of cadastral and registry systems, the unique identification of properties, the digitization of processes, and the strengthening of professional oversight lay the foundation for a substantial improvement in legal security for real estate transactions. For developers, investors, and financial institutions, this new scheme can translate into lower legal analysis costs, greater clarity in project structuring, and a reduction of risks associated with informality or inconsistency in registry information. The new system, however, does not immediately eliminate historical conflicts, nor does it, on its own, correct poorly drafted titles, defective descriptions, or issues of ownership origin that are part of the country's real estate holdings. The RUN introduces tools to organize, identify, and prevent new conflicts, but it does not replace legal regularization processes when these are necessary. The real impact of the new system will depend largely on its sustained implementation over time, adequate training for system operators, and institutional consistency in applying technical and registration criteria. Only under these conditions can the Unified National Registry become a genuine structural improvement and not merely a formal reform. What is undeniable is that the Unified National Registry introduces a different logic: more integrated, more technical, and more predictable. In a country where real estate is one of the main vehicles for savings, investment, and urban development, this change represents a structural step toward a more organized, transparent, and professional market.

The groundbreaking marks the beginning of one of the central pieces of the development and reinforces the materialization of a residential neighborhood conceived around water, safety and quality of life. On Wednesday, December 17th, La Ribera broke ground on its Clubhouse, marking the formal start of one of the development's central elements. The commencement of this project solidifies the definitive transition from a blueprint to a living urban reality, reinforcing the progressive realization of a gated community designed around quality of life, security, landscape, and the everyday connection with water. Located on the banks of the Pajaguá stream, with a direct connection to the Paraguay River, La Ribera offers a unique way of living: a residential environment that combines easy access to the city with a daily experience connected to water, green spaces, and personal time. This geographical location, along with its direct integration into Asunción's main road network via the Héroes del Chaco Bridge, is one of the project's key conceptual pillars. The groundbreaking ceremony for the Club House represents much more than the start of a specific project. It symbolizes the consolidation of the neighborhood's social heart, a space designed as a meeting point, a place for enjoyment and community life, aligned with internationally recognized design and wellness standards. From its inception, La Ribera was designed as a 100% residential neighborhood, without internal commercial areas, prioritizing tranquility, security, and a daily experience focused on family life. The project is developed within a completely walled perimeter, reinforced by a 20-meter setback from the property lines, designed to protect the community's connection with the immediate surroundings and enhance privacy. The security system integrates continuous surveillance, cameras distributed throughout the neighborhood, access control using PCG and QR technology, and a monitoring station with six continuously operating screens. This infrastructure not only aims to prevent crime but also to generate a constant sense of control and predictability, one of the project's core values. The resident experience begins upon entering. A grand entrance gate, internal streets surrounded by greenery, and the absence of individual walls in front of the homes create a clean, open, and cohesive urban landscape. The neighborhood's design incorporates more than eight kilometers of internal pathways intended for walking, jogging, or cycling in a safe environment, promoting an active, outdoor lifestyle. The relationship with water is one of the project's fundamental principles. La Ribera is structured around a system of internal lagoons and the Pajaguá stream, offering uninterrupted water views from most lots. This connection is not merely scenic: it enables an everyday experience where activities such as recreational boating, contemplating the landscape, or simply visually connecting with the water become part of daily life. In terms of scale, La Ribera envisions approximately 350 homes distributed across city blocks, which will be delivered progressively. Block A has already been delivered, Block B is scheduled for February, and the timeline will continue with Blocks C, D, and so on until Block K is completed. Meanwhile, construction is already underway on other homes, with plans for further development, reinforcing the project's transition to a vibrant and active community. The neighborhood was conceived as an integrated infrastructure system, designed to operate self-sufficiently. It features a wastewater treatment plant, a reverse osmosis drinking water plant with quality standards comparable to bottled water, and an electrical generation system capable of meeting 100% of the neighborhood's demand in the event of public utility outages. This approach eliminates the need for individual solutions, prevents the proliferation of visible generators, and reinforces a well-ordered urban aesthetic. The new Clubhouse, whose construction has just begun, will have a total covered area of 1,500 m², distributed as follows: 900 m² on the ground floor and 600 m² on the upper floor. In addition, there are 130 m² of semi-covered space on the ground floor and 360 m² of terraces on the upper floor. The program includes a 200 m² event hall with an outdoor extension, with a capacity of approximately 200 people; a restaurant with 200 m² of covered space plus 150 m² of semi-covered space, with a total capacity of approximately 180 people; and six individual barbecue areas, each with 90 m² of covered space and 60 m² of terrace. The Clubhouse grounds are complemented by a 3,600 m² saltwater lagoon, accompanied by a 2,000 m² beach and a beach bar, reinforcing the recreational and social character of the space. The project has an estimated completion time of one year, and construction of the second Clubhouse is expected to begin around the same time next year. This second clubhouse will be focused on sports and physical well-being. It will have an approximate area of 2,000 m² and will include a new events hall, restaurant, a 450 m² gym, spa areas, sauna, and hair salon. In its immediate vicinity, a sports complex will be developed with four tennis courts, four paddle tennis courts, two basketball courts, three volleyball courts, and a soccer field, integrated with one of the largest residential lagoons in the neighborhood. In total, the amenities occupy approximately three hectares within the 60 total hectares of the project, one of the main differentiators in terms of well-being and daily use of the space. Currently, there are around 180 lots available, with areas ranging from 450 m² to 3,000 m², and prices starting from approximately $120,000. The concept for La Ribera is deeply rooted in architecture and urban planning. It arose from a long-standing quest to develop a gated community that wouldn't sacrifice urban proximity or quality of life, combining the spatial quality of a planned environment with the immediacy of the city. After years of exploring different sites and more than 40 preliminary designs, the final location was secured following the dredging work related to the road infrastructure in the area of the Puente Héroes del Chaco (Heroes of Chaco Bridge), where a plot of land with exceptional conditions was identified. Signature is acting as the project's full-service developer, handling both real estate development and earthmoving and land reclamation. Larger-scale civil works, such as the entrance gate and the clubhouse, are being carried out by Doxa, while the urban and architectural design of the gated community and the clubhouses was developed by PATH URBAN, a Buenos Aires-based studio specializing in high-quality urban and architectural design, with a focus on sustainability, integration between city and nature, and construction efficiency. On the financial front, Valores Casa de Bolsa is supporting the project as organizer and structurer, contributing over 30 years of experience in financial solutions. Through its Real Estate division, it joins as a strategic partner, providing solid institutional backing that reinforces the project's confidence and stability. The groundbreaking ceremony for the Clubhouse marks a turning point for La Ribera. It not only confirms the project's physical progress but also solidifies a residential concept that reinterprets the relationship between city, water, and quality of life. At a time when Asunción is beginning to revalue its connection to its water system, La Ribera positions itself as one of the developments that best translates this transformation into a concrete way of living. Those interested in learning more about La Ribera and the available residential opportunities can complete the form at the end of this article. The project team will then contact you directly to offer advice and details tailored to your specific inquiry.

Obtaining investment grade consolidates the country's macroeconomic credibility and gradually modifies the foundations on which investment and urban development decisions are made. Standard & Poor's Global Ratings' decision to raise Paraguay's sovereign rating to BBB- with a stable outlook marks a structural milestone in the country's recent economic history. With this result, Paraguay consolidates its entry into investment grade with two of the three major international rating agencies, positioning itself among the economies with the greatest macroeconomic credibility in Latin America and reinforcing its profile as a reliable destination for long-term capital. Far from being an isolated or circumstantial achievement, the improvement in the sovereign rating is the culmination of a gradual and sustained process of institutional strengthening, macroeconomic discipline and predictability of public policies, which has allowed the country to navigate an international context marked by high volatility, geopolitical tensions and restrictive financial cycles with remarkable resilience. In its assessment, Standard & Poor's highlighted Paraguay's proven track record of macroeconomic stability, as well as the consistency and continuity of its economic policies. The rating agency emphasized that the Paraguayan economy has strengthened its capacity to absorb external shocks, supported by an institutional framework that has gained credibility both regionally and internationally. In fiscal matters, the report highlights the Government's commitment to prudence and discipline, adherence to conservative targets, and the consolidation of public accounts. This approach allowed for the preservation of fiscal space and laid the groundwork for rebuilding fiscal buffers after recent shocks, strengthening the sustainability of public finances in the medium and long term. The strengthening of state institutions emerges as another central pillar of the recognition. Standard & Poor's particularly valued the modernization of the Ministry of Economy and Finance, the reinforcement of the tax administration, and the progress of structural reforms aimed at improving the efficiency of the public sector and creating a more favorable environment for private investment. These elements, although less visible than traditional macroeconomic indicators, are crucial for assessing sovereign risk and for the confidence of long-term investors. In the monetary sphere, the rating agency emphasized the growing credibility of the Central Bank of Paraguay, evidenced by the rapid convergence of inflation and inflation expectations toward the target. This performance is particularly relevant considering the recent reduction in the inflation target, a clear sign of the maturity of the targeting regime and the monetary authority's technical capacity to manage the economic cycle. The monetary policy framework, complemented by a flexible exchange rate and adequate levels of international reserves, has broadened the Central Bank's room for maneuver and strengthened the Paraguayan economy's capacity to withstand external shocks without resorting to disorderly adjustments. For financial markets and institutional investors, this combination is one of the main anchors of macroeconomic confidence. Beyond stability, Standard & Poor's highlighted the country's robust economic performance, which has shown consistent growth rates even in an adverse global context. This growth has been driven by private investment, dynamic domestic demand, and a progressive diversification of the productive base—factors that improve long-term development prospects and strengthen Paraguay's external position. This point is particularly relevant: investment grade is not granted solely for stability, but for the capacity to sustain growth over time without compromising macroeconomic equilibrium. In this sense, Paraguay is beginning to be perceived not only as a well-managed economy, but also as one with potential for structural expansion. The awarding of investment grade status is not an isolated financial event, but rather a signal that gradually filters down to different markets within the economy. In the case of the real estate sector, one of the most capital-intensive and long-term sectors, the impact is particularly significant. This is not because it generates immediate transformations, but because it modifies the underlying conditions upon which investment, financing, and urban development decisions are based. Paraguay has historically operated with short timeframes and high financing costs, which has limited the scale, pace, and type of many developments. In this new context, the investment grade rating opens the possibility of longer-term financing structures, with greater predictability and less pressure on equity. This is not an automatic reduction in interest rates, but rather a sustained improvement in the economic viability of projects that were previously on the verge of being financeable. This new scenario also brings with it a qualitative shift in the profile of capital that is beginning to look to the country. The eligibility granted by the investment grade rating places Paraguay on the radar of conservative institutional and private investors, actors who prioritize stability, regulatory clarity, and macroeconomic consistency over extraordinary short-term returns. This type of investor does not transform the market through abrupt shocks, but rather through constant pressure toward professionalization, transparency, and the structural soundness of projects. Consequently, the real estate market would begin to be evaluated using more demanding criteria. The legal structure, the traceability of cash flows, developer governance, the alignment between product, location, and actual demand, and the capacity to sustain value over time would become central to the analysis. The investment grade rating would not indiscriminately amplify the value of all assets, but rather deepen the distinction between projects conceived with a long-term vision and those driven by more short-term considerations. This process would also be reflected in price dynamics. Regional experience shows that investment grade does not generate widespread price increases, but rather selective revaluation. Well-located assets with quality construction, adequate scale, and institutional backing tend to be the first to capture the benefits of the new context. Meanwhile, generic or poorly structured products do not necessarily follow this trend. Investment grade, far from inflating the market, introduces a more refined logic of valuation and segmentation. Another significant effect would be observed in the urban dimension. In economies that achieve investment grade status, real estate capital tends to concentrate in areas with existing or planned infrastructure, good connectivity, services, and clear regulatory frameworks. This fosters urban consolidation and more orderly densification. In the Paraguayan case, where formal and informal growth dynamics coexist, this new context could act as a catalyst for more structured urbanization, especially in Asunción and its metropolitan area. As the market becomes more closely scrutinized by external actors, it would also become more demanding in terms of information, analysis, and professional practices. Investment grade indirectly drives greater formalization of the real estate ecosystem, fostering higher reporting standards, more robust contractual structures, and progressive integration between real estate and the capital markets. The sector would cease to operate solely as an operational business and would begin to consolidate as an asset class fully integrated into the broader financial system. For Paraguayan real estate, investment grade is not the end goal, but rather the beginning of a maturation process. Macroeconomic stability is no longer an exceptional advantage but a fundamental requirement. From now on, the true differentiator will lie in the quality of the projects, urban planning, execution capacity, and the institutional integrity of the stakeholders involved. The challenge ahead is not only to take advantage of better financing conditions or greater international interest, but also to live up to the country's new positioning. In that sense, the investment grade rating does not transform the real estate market on its own, but it does redefine the terrain on which its next stage of growth will be built. It is worth noting that this recognition is the result of a consistent track record. Over the past two years, Standard & Poor's has reflected this progress through successive improvements in the sovereign rating: an upgrade in February 2024, a change in outlook in January 2025, and finally, the elevation to investment grade in December, after nine years without an upgrade. This sequence confirms the markets' sustained confidence in the macroeconomic and institutional course adopted by the country. This achievement is the result of coordinated work between the National Government, the Ministry of Economy and Finance, the Central Bank of Paraguay and the State's technical teams, and reaffirms the country's commitment to macroeconomic stability, institutional strengthening and long-term sustainable development. More than an end point, investment grade represents a new starting point. Paraguay is entering a stage where macroeconomic stability ceases to be an exceptional strength and becomes a structural condition upon which long-term investment decisions, urban development, and capital allocation are based. In this context, the challenge ahead will not only be to preserve the investment grade rating, but also to capitalize on it intelligently. This will involve raising standards, strengthening institutions, and guiding growth toward more balanced, competitive, and sustainable urban and economic development, where real estate ceases to be merely a short-term opportunity and becomes a mature, integrated, and strategic asset class for the country.