The cost of living in Paraguay

Nestled in the heart of South America, Paraguay is a country of unsuspected riches. Its landscapes, biodiversity, Hispanic and indigenous traditions and climate attract many expatriates, who often fall under its spell after visiting it on a trip. If you’re thinking of relocating to Paraguay, Foyer Global Health has put together this guide to provide you with all you need to know about the cost of living in Paraguay.

If you’re thinking of relocating to Paraguay, Foyer Global Health has put together this guide to provide you with all you need to know about the cost of living in Paraguay.

Overview of the average cost of living in Paraguay

Paraguay has the lowest cost of living in South America. The average budget for living in Paraguay is €700 per month for one person, and €1,800 for a family of four.

These figures take into account all items of expenditure, including housing, shopping, monthly utilities, medical care, entertainment and school fees.

Currency and exchange rates in Paraguay

Paraguay’s official national currency is the Guarani, abbreviated PYG and symbolized “₲”. Due to inflation, the banknotes used have high denominations; locals use PYG 2,000, PYG 20,000, PYG 50,000 and PYG 100,000. US dollars are accepted in most Paraguayan establishments. Euros can also be used, particularly in restaurants and hotels.

Today, it takes 7,942 PYG to make 1 USD and 8,593 PYG to make 1 EUR. (Indices as of October 25, 2024).

Accommodation in Paraguay

For accommodation in Asuncion, here are the prices to expect according to property type:

• One-bedroom apartment in the city centre: 3,350,000 PYG (390 EUR).
• One-bedroom apartment outside the city centre: 2,660,000 PYG (310 EUR).
• Purchase price per m2 downtown: 10,000,000 PYG (1,160 EUR).
• Purchase price per m2 outside the city centre: PYG 4,850,000 (EUR 565).

In the country’s other cities, the housing budget is generally lower.

Additional housing costs in Paraguay

The housing budget includes additional charges, such as electricity, air conditioning and/or heating, as well as water and garbage collection. These costs are around 375,100 PYG per month, or just over 43 EUR.

The price per kWh of electricity is PYG 404 (EUR 0.047).

Food prices in Paraguay

The monthly shopping budget in Paraguay represents 28% of Paraguay’s cost of living. Food prices remain relatively low compared to Western Europe and other Central American countries. Here’s an overview of some food prices (in euros):

Transportation in Paraguay

Several urban and intercity transport networks are available in Paraguay, although there is no comprehensive network map showing them.

Bus: for urban routes, expect to pay PYG 2,400 (EUR 0.26) for standard buses and PYG 3,600 (EUR 0.42) for air-conditioned buses. For intercity routes, such as Asuncion – Ciudad del Este, fares generally vary between PYG 86,000 and PYG 172,000 (EUR 10 and 20).

Cab: the starting price is PYG 8,600 (EUR 1), with a fare of PYG 9,450 (EUR 1.10) per kilometre.

Car: residents can also use their own vehicles, filling up at PYG 7,700 (EUR 0.90) per litre of gasoline.

Train: there is only one rail service in the country, linking the Paraguayan town of Encarnación with Posadas in Argentina. The fare is PYG 6,500 (EUR 0.76).

Plane: a number of airlines, including LATAM and Paranair, operate flights between Asuncion and Ciudad del Este, with fares starting from PYG 386,600 (EUR 45).

Healthcare costs in Paraguay

Healthcare costs for residents of Paraguay average 445 EUR per year per person, and this figure gets greater year after year.

• A consultation with a general practitioner in Paraguay costs 300,000 PYG (35 EUR) on average.
• A consultation with a specialist (cardiologist, endocrinologist, paediatrician …) costs around 470,000 PYG (55 EUR).

Access to healthcare is limited by insufficient investment, which means that Paraguay’s healthcare system has certain shortcomings. In the capital, medical care is generally reliable, but elsewhere, waiting times and infrastructure can sometimes be a problem. For optimum coverage, many expatriates choose to take out international health insurance to protect themselves and their families.

Education in Paraguay

Parents can send their children to several private schools in Paraguay. To give you an idea, here are some examples of tuition fees (in euros):

• American School of Asuncion : EUR 650 registration fee and EUR 7,400 admission fee per student.
• Lycée français international d’Asuncion, admission fees 2024-2025: EUR 2,300 and EUR 245 to EUR 415 registration fees.

Telecommunication services in Paraguay

The cost of telecommunication services in Paraguay is one of the lowest in South America. On average:

• A mobile package (unlimited calls and data) costs 75,000 to 150,000 PYG (9 to 17.50 EUR)
• An internet subscription (60 Mbps and unlimited data) costs 100,000 to 220,000 (11.50 to 25.5 EUR).

Leisure activities in Paraguay

Paraguay offers its inhabitants a wide range of activities, both in the city and in the countryside:

• Visit the Museo Del Borro in Asuncion: PYG 50,000 (EUR 5.82) per entry.
• Spend a day at the El Dorado water park: PYG 1,036,600 (EUR 119) per adult and PYG 554,300 (EUR 64) per child.
• Discover the Saltos Del Monday waterfalls: PYG 95,200 (EUR 11) per adult and PYG 43,300 (EUR 5) per child.
• Go to the cinema: PYG 40,000 (EUR 4.65).
• Dinner at a mid-range restaurant: 180,000 PYG (20.95 EUR) for two people.
• Gym membership: PYG 200,600 (EUR 23.35) per month.

Cost of living in Paraguay compared with Western Europe

The cost of living in Paraguay is roughly 60% lower than in Western Europe. While a family of four needs a monthly budget of €1,800 to live in Paraguay, this figure rises to €4,600 in Western Europe.

This difference is mainly due to the standard of living offered by the two countries. In Western Europe, the purchasing power of residents is more than twice that of Paraguayans. The average salary is also considerably higher, at around €2,500 in Western Europe, compared with €370 in Paraguay.

Cost of living in Paraguay compared with neighbouring countries

Compared to Brazil

Living in Paraguay is 12% cheaper than in Brazil. All items of expenditure are more affordable, with the exception of rents, which are 10% higher in Paraguay than in their Brazilian neighbours. For example:

• Renting a 3-bedroom downtown apartment in Paraguay costs an average of €600, compared with €550 in Brazil.
• Renting a one-bedroom downtown apartment in Paraguay costs an average of €390, compared with €300 in Brazil.

Note that the average salary is higher in Brazil than in Paraguay (€490 vs. €370), but purchasing power is almost similar between the two countries.

Compared with Argentina

Living in Argentina means a monthly budget 24% higher than in Paraguay, including rent. The cost of living for one person in Argentina is around €800. The difference in cost of living is particularly noticeable when comparing the two capitals:

Compared to Bolivia

Finally, compared to Bolivia, Paraguay’s cost of living is – once again – 6% lower. However, expenditure items are different:

• In Bolivia, you need to budget more for shopping (16% higher).
• In Paraguay, on the other hand, the budget for housing and monthly energy costs is higher. For example, an apartment with €35 in monthly utilities in Bolivia costs around €45 in Paraguay.

In terms of annual income, the latest data show that wages are 11% higher in Bolivia than in Paraguay.

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Living – Paraguay Health – Paraguay Budget – Paraguay