Buying off-plan or a completed apartment in Asunción: which is right for you?

Are you looking to buy an apartment in Asunción and deciding between a development under construction — known locally as en pozo — and a completed property?

The right choice depends on three factors: when you need the property, how you want to finance the purchase and what you expect from your investment. Buying off-plan often allows you to spread payments over time. Buying a completed apartment lets you inspect it and consider moving in or renting it out sooner.

The two options at a glance

Your priority	Buying off-plan	Buying a completed apartment
Purchase price	Launch pricing may be attractive	The price reflects a finished property you can inspect
Payment	Instalments during construction, depending on the development	Financing arranged according to the seller’s and lender’s terms
Availability	At handover, subject to the contractual schedule	After completion of the purchase and any necessary preparations
Rental income	None before handover and preparation for letting	Possible sooner, once a tenant is found
Choice of apartment	Usually wider at launch	Limited to available units
Checks	Developer, documents, contract and construction progress	Actual condition, documents and building charges

Buying off-plan: planning ahead and spreading the cost

The advantages

Potentially attractive launch pricing. The first apartments may be offered at a lower price than those sold later in the marketing process. Compare equivalent properties, including location, floor area, specifications and included costs.

Staged payments. Some developments allow an initial payment followed by instalments during construction. Check the instalment amounts, payment currency and whether any balance will remain due at handover.

More choice at the outset. Floor, orientation, layout, balcony or parking: buying early may help you select the apartment that best suits your plans.

Potential for capital appreciation. The property may increase in value between launch and handover. This is uncertain and depends on factors including the purchase price, quality of the development and market conditions.

What to factor in

You need to be able to wait. The apartment cannot be occupied or rented out before handover and preparation. Your budget should also accommodate a possible delay.

You choose based on documents. Floor plans and renderings help you picture the result, but floor areas, materials, equipment and finishes should be specified in the contractual documents.

Delivery depends on the developer. Previously completed projects are a useful indicator of reliability, alongside a review of documents and written commitments.

Buying a completed apartment: inspect it and move forward sooner

The advantages

You can visit the actual property. Daylight, noise, room sizes, finishes and shared areas: you can assess what you are buying firsthand.

You can use it sooner. After the purchase and any necessary work or furnishing, the apartment can become your home or be offered for rent. Rental income will depend on how long it takes to find a tenant and the rental terms.

You avoid waiting for construction to finish. You can see the result, reducing construction-related uncertainty. You should still inspect for potential defects.

The transaction may be faster. If the property’s documents are in order, you can proceed towards signing the title deed (escritura) without waiting for construction to finish.

What to factor in

The price may be higher. A completed apartment may cost more than a unit purchased at launch. This is not always the case: compare offers and the total purchase cost.

Payment terms may be less flexible. The seller may require prompt payment. A loan or instalment arrangement may still be available, depending on your circumstances and the terms offered.

Your choice may be narrower. In a new development, some floors or orientations may already have sold during construction.

Which option fits your plans?

Buying off-plan may suit you if you can wait, want to spread payments and accept construction-related uncertainty. The schedule and the developer’s commitments should fit your budget.

A completed apartment may suit you if you want to move in or rent it out soon, prefer to inspect before deciding and have the required capital or financing.

In either case, compare the total cost, including purchase expenses, parking if sold separately, furnishings and equipment, building charges and, where applicable, financing interest.

Before you sign: what to check

For an off-plan purchase

1. The developer and its track record. Visit completed projects and, if possible, speak with owners.
2. The development’s documents. Have the land’s legal status, municipal permits and the seller’s identity checked.
3. What the price includes. The advertised floor area, how it is calculated, finishes, equipment, parking and additional costs should be clear.
4. Timing and payments. Ask for a contractual handover date, a precise payment schedule and the terms that apply if delivery is delayed or the project is not completed.
5. The contract before any payment. Have it reviewed by an escribano (notary) and, where necessary, an independent lawyer, particularly to understand how payments are handled and the options for terminating the contract.

For a completed apartment

Also check the title documents and whether the title deed can be executed, the condition of the apartment and shared areas, building charges and any outstanding amounts. A thorough inspection and a document review complement each other.

For more on contractual clauses and precautions, read our guide: Buying an apartment off-plan: what to check before signing.

Kalypso Recoleta: an off-plan option in Asunción

At the corner of Cruz del Chaco and Alfredo Seiferheld, Kalypso Recoleta offers payment terms of 10% upfront, followed by the balance in 32 interest-free monthly instalments during construction. Handover is scheduled for May 2029. www.kalypso.com.py

Interested in exploring this option? Contact CALISTA Inmobiliaria for floor plans, prices and availability, along with the development’s detailed terms.