Real estate · November 2, 2026
Raúl Constantino, president of Paraguay's real estate developers association CAPADEI, has warned that the weakening US dollar against the guaraní is squeezing property-development margins. He reported delayed investment decisions and some halted projects, according to remarks published on Monday.
Currency mismatch
Many real estate sales are priced in US dollars, but a large share of construction and operating costs is paid in guaraníes. As the dollar declines, those local costs become more expensive when measured in dollars. Existing sales contracts can therefore yield lower project margins.
Delays are not a market-wide shutdown
The association did not disclose how many developments have been postponed or halted, nor aggregate losses. The remarks should therefore be treated as a warning about risks and individual cases, not a quantified collapse across the property market.
Investor implications
Assess pre-sale commitments, the currencies used for revenue and costs, financing, project schedules and verified sales absorption. Higher dollar asking prices do not necessarily mean stronger profitability.
Radar assessment: currency predictability matters for multi-year projects, particularly when sales and construction costs are denominated in different currencies.
Original conceptual illustration by Radar Inversión.
Source: Última Hora · 2/11/2026.
