Recoleta

Recoleta is the "Paris of South America", it became fashionable in the 1870s as wealthy families fled the southern yellow-fever epidemics, and a "Little Paris" master plan brought French architects and materials, yielding Beaux-Arts facades along Avenida Alvear (the Alvear Palace Hotel, the Park Hyatt’s Palacio Duhau, and luxury houses). Daily life centres on culture: the Museo Nacional de Bellas Artes, the Centro Cultural Recoleta, the Biblioteca Nacional, the Basílica del Pilar, the famous Recoleta Cemetery and the weekend Plaza Francia fair. For investors it trades on prestige and scarcity over yield, one of the three priciest barrios, with deep local demand and the lowest long-term vacancy, but an ageing housing stock that carries material renovation costs.

Recoleta in Buenos Aires, Ciudad Autónoma de Buenos Aires, Argentina