Language(s): Spanish (Official)
Area: 406,752 km2
Population: 6,454,548 (2009)
GDP (PPP): 2011 estimate
Total: $35.346 billion
Per capita: $5,412
California-size Paraguay is surrounded by Brazil, Bolivia, and Argentina in south-central South America. Eastern Paraguay, between the Paraná and Paraguay rivers, is upland country with the thickest population settled on the grassy slope that inclines toward the Paraguay River. The greater part of the Chaco region to the west is covered with marshes, lagoons, dense forests, and jungles.
The capital city of Asuncion is the only place where property rights are secure enough to make it advisable to buy. Yields are low however. A 100 sq. m. apartment may cost only US$40,000, but it might rents for as little as US$70 per month. This would give the landlord a very low yield, at 2.1%. Houses in Asuncion tend to be worth around US$500 to US$600 per sq. m., and they rent for around US$1.50 to US$2.70 per sq. m. per month. Rental yields on houses are therefore around 3.5% to 6%.