Latin America Living Outlook
Residential markets across a changing region.
Latin America is not one housing market. Infinity studies residential demand, capital formation, and delivery systems city by city — Lima and Paraguay — because entitlement, financing, and absorption are local. The regional story is urbanization and a persistent housing deficit. The investable story is which city, which product, and which capital stack can actually deliver.
In the United States, institutional living-sector capital is trained on rental cash flow, construction debt, and a permanent take-out. In the markets Infinity studies in Latin America, ownership demand and preventa change the sequence. Absorption can form capital before the building is complete.
Perú is read through Lima. Paraguay is held inside the LATAM Collection — an active market, not a slogan. The Inter-American Development Bank has put the regional deficit above 45 million homes. Preventa can form construction capital before delivery. Peru’s 18% IGV exemption on qualifying first-sale units, including preventa, is a mix input in Lima. Paraguay’s 10% territorial IRE is a structural feature of Asunción, not a Ley 7548 housing holiday.
Field note: Forty-eight hours in Lima’s residential market. It sits inside this outlook, not as a seventh Perspectives study.