Asuncion is the centre of Paraguay’s political, economic and cultural life. 15% of the population of Paraguay lives in this city, while the rest have made homes within 150 km of it. New concrete villas with no distinct architectural style have rapidly replaced the Spanish-Moorish colonial buildings of yore. The public buildings are situated close to the river, Rio Paraguay. "Lapacho" trees are in full bloom in July and August. The central plazas of Asuncion are strewn with the pink flowers of these beautiful trees at this time of the year.