Coldwell Banker Around the World: November 2023

Sam Shalom    11/2/23

As one of the oldest cities in South America, Asunción is also known as “The Mother of Cities”. Rich with history and culture, the capital of Paraguay also enjoys all the modern amenities of a modern metropolis. Recent visitors are discovering what residents of this diverse city experience daily; Asunción offers unique shopping, a plethora of outdoor experiences, historical places of interest, museums, music and theater companies, sports venues, nightlife and, of course, delicious food.

Coldwell Banker Origenes Broker/Owner, Gustavo Gomez, opened the first Coldwell Banker Paraguay office in Asunción in March of 2023. Gustavo shares, “Those seeking a relaxing break away from the hustle and bustle of everyday life will find an atmosphere ofserene relaxation, offering them the time to recharge amidst the stunning landscapes and delicious cuisine.” Gomez elaborates on culinary diversity, love of the surrounding natural beauty, and enjoyment of living or visiting Asunción in the interview below, and his passion for his home might inspire you to learn more by visiting in person.

Where do you live? I live in Asunción, Paraguay

What is the perfect weekend day like? To wake up and savor a leisurely Paraguayan breakfast with tereré (traditional breakfast drink) before embarking on a journey to explore the wonders of Paraguay.

What are the common modes of transportation there? The best way of getting around is to rent a car, ride a bike, take the bus, ortravel by taxi. 

Tell us about the foods your area is known for. Paraguay boasts a vibrant culinary scene with a fusion of flavors influenced by its rich cultural heritage and the blending of indigenous, Spanish, and Guarani traditions. Paraguayan cuisine emphasizes the use of fresh ingredients, including meats, seafood, vegetables, and fruits. While it may not have the same international recognition as some       other cuisines, Paraguay’s food scene is rich in flavor and reflects the country’s cultural diversity. Whether you’re savoring a traditional Paraguayan barbecue of grilled beef, sausages, or chicken with chimichurri sauce or indulging in sweet delights like Mbatata (sweet potatoes prepared in various ways), Paraguay offers a unique and delightful culinary experience.

What is your favorite meal, at home or at a restaurant? I have a deep appreciation for our traditional Paraguayan cuisine. The variety of flavors and dishes we offer truly makes our culinary heritage something special. To start a meal, we have a delightful selection of mezes that include:

Sopa Paraguaya a cornbread and cheese soup; Mbeju cheesy flatbread with a crispy exterior and a soft, gooey interior; Chipa cheesy bread rolls enjoyed as snacks; Mandioca Frita, fried cassava sticks with dipping sauce; Empanadas, which are savory turnovers filled with various things like meat, cheese or vegetables; or Saraki, a traditional corn and cheese dish.

Where do you recommend someone vacation in your region and why?

1. For historical significance, Areguá is a charming town and attracts visitors year-round who wander through its picturesquewinding streets and relax in one of its cozy cafes and There are well-preserved ruins of the Jesuit Missions which display Paraguay’s rich colonial history and architectural heritage.
2. Experience the regional culture at Cerro Cora National Park which is steeped in history, and brimming with intriguingtrails, historical sites, and quaint shops and eateries to Paraguay is renowned for its exquisite Ñanduti Lace, atraditional craft passed down through generations. You can find these intricate lace creations in local markets, souvenirshops, and boutique stores throughout the country.
3. Enjoy the natural wonders of Paraguay. The Iguazu Falls is a breathtaking sight to behold, offering an awe-inspiringexperience for nature enthusiasts and adventurers Pantanal Wetlands offers a unique opportunity to witness Paraguay’s diverse wildlife and lush landscapes. You can embark on guided wildlife tours and birdwatching excursionsin this pristine natural habitat.
4. Imbibe in local fare and culture of yerba mate, a traditional Paraguayan bever age, by joining locals in enjoying thisflavorful tea-like drink, or let time roll by with a stroll by the Asunción Riverfront, a perfect spot to relax and watch the world go by.

What is your favorite recreational or leisure time activity?  Paraguay offers a wide range of activities for both summer and winter. Itsdiverse natural landscapes, from unspoiled beaches to rolling hills and magnificent mountain ranges, provide the perfect backdrop forvarious activities. Some popular options include horseback riding, trekking, birdwatching, water sports, golfing, guided historical tours, and cultural events.  Additionally, Paraguay boasts a vibrant nightlife scene, with bars, hotel lounges, and live music venues that comealive after dark.

Is there a specialty your area is known for? Paraguay has a rich cultural heritage, and its artisans produce a variety of unique handicrafts and traditional goods. These include Ñanduti lacework, ceramic pottery, intricate embroidery, and handmade jewelry. Youcan find these locally crafted treasures in bustling markets, souvenir shops. and artisan boutiques, each bearing the cultural heritageand craftsmanship of Para guay. These handicrafts and traditions are not only a source of cultural pride but also a means of preserving and sharing Paraguay’s rich heritage with the world. Travelers can explore these crafts and traditions in local markets, artisan shops,and cultural events throughout the country.

Share a little known but interesting fact about the area/region: Paraguay, located in the heart of South America, offers uniqueopportunities for investment and growth in various sectors.

Paraguay’s central location in South America makes it an attractive hub for trade and commerce. The country is a major exporter of soybeans, beef, and other agricultural products. It offers fertile land for farming and agribusiness investments. Paraguay has implemented policies to attract foreign investors. It offers tax incentives, ease of doing business, and political stability conducive to investments.

Paraguay’s real estate market, especially in urban areas like Asunción is experiencing growth. The demand for residential and commercial properties is on the rise, making it an attractive sector for investment. Paraguay is invested in improving its transportation and logistics infrastructure, including roads, ports, and airports, to enhance connectivity and facilitate trade. The country’s banking and financial services sector is growing as well, attracting investments from both domestic and international players. Paraguay has a young and growing workforce, providing a source of skilled labor for businesses.

While Paraguay offers numerous investment opportunities, it’s essential for potential investors to conduct thorough due diligence, seek local expertise, and stay informed about the evolving business environment and regulations. As the country continues to develop and open up to international investments, it presents a hidden treasure for those looking to diversify their portfolios or explore emerging markets.

If you were to live in any other region where we have a Coldwell Banker presence, where would it be and why? Around 20 years ago, I discovered the charm of Paraguay, and since then, I have found my second home in this beautiful country. Paraguay’s unique blend of friendly people, peaceful ambiance, and an amazing climate has captured my heart, making it impossible for me to imagine living anywhere else.

Territory Summary:

Paraguay is a landlocked country located in the heart of South America. Here is a summary of its territory, including aspects of economics, history, and geography.

Geography: Paraguay is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. The Paraguay River, one of the country’s main geographical features, runs north to south through the western region, dividing the country into two distinct geographic regions: the Gran Chaco to the west and the Eastern Region to the east. The Gran Chaco is a vast, sparsely populated region characterized by semi-arid plains, thorny scrubland, and occasional marshes. The Eastern Region, also known as the Paraná Plateau, is the more populated and economically developed part of the country. It features rolling hills, fertile plains, and a network of rivers and streams.

History: Paraguay has a rich and complex history. It was originally inhabited by indigenous peoples, including the Guaraní, who still form a significant part of the population and have influenced the country’s culture. Paraguay was colonized by Spain in the 16th century and gained independence in 1811. The 19th century was marked by conflicts, including the devastating Paraguayan War (1864-1870) against Argentina, Brazil, and Uruguay, which resulted in significant loss of life and territory for Paraguay. Political instability and authoritarian rule characterized much of the 20th century, including the long dictatorship of Alfredo Stroessner from 1954 to 1989.Since the transition to democracy, Paraguay has made progress in consolidating democratic institutions and promoting economic development.

Economics: Paraguay has a mixed economy with agricultural and industrial sectors playing significant roles. Agriculture is a major economic driver, with important exports including soybeans, beef, grains, and other agricultural products. The country has a significant hydroelectric power generation capacity, with the Itaipu Dam on the Paraná River being one of the largest hydroelectric power plants in the world. The Taxes percentage in Paraguay is 10%, it also has a GDP growth of 3,6%. Another good characteristic of stability in Paraguay is the annual inflation rate in Paraguay is only 4.2 percent.

Key Facts:

• Population: 7,000,000
• Language(s) Spoken: Spanish and Guarani
• Climate: Subtropical
• Currency: Guarani

Industry Facts:

• Types of Architecture: Minimalist and Colonial
• Prices per sq. ft./meter: 285
• Average Sale price: $100,000 USD
• Average years in house/apt: 20 years
• Types of financing: Own or bank-related