The city of Buenos Aires enjoys the deserved reputation of being the “Paris of South America” and is a world apart from anything else you’ll find on this continent. Rich in culture, the arts and history, Buenos Aires is a gem, offering endless fine dining, excellent wines, theater and, of course, tango.
Buenos Aires is easily the most European city in South America, but it also has its own strong identity, with more than 450 years of history and culture behind it. It enjoys four distinct seasons, but has no extreme weather and no ice or snow.
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Health care is excellent in Buenos Aires, and is on par with U.S. health care in every way except cost. Medical costs in this city are less than a quarter of what you’d expect to pay for comparable U.S. services. Health insurance is likewise affordable. A good plan costs between $300 and $500 per month for a couple.
The population in Buenos Aires is generally well educated, and English is widely spoken. Best of all, the cost of living is very low. A nice dinner out for two with wine will cost you around $55. A bottle of great Malbec — Argentina’s signature red wine — runs about $7 in the supermarket. If you like a good steak, a pound of world-famous Argentine filet is only $5.50.
With all this going for it, why isn’t Argentina more widely recognized as a top option for living or retiring overseas? This country has recently suffered through an extended downturn that made living here challenging and expensive. But things changed in 2015 when Mauricio Macri, a center-right former mayor of Buenos Aires, won the presidential election. President Macri is turning the ship. He has eliminated the export tariffs on wheat, corn and beef, while reducing the tariff on soy beans. He has devalued the Argentine peso by 30 percent to an honest, true-value exchange rate and eliminated his predecessor’s currency controls. Most importantly, President Macri has settled Argentina’s outstanding debt from the country’s 2001 default, opening Argentina back up to capital markets.
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Prior to 2015 it was hard to recommend Argentina as a place to spend time or money, but things are different today. As Argentina is enjoying a strong upswing, it’s worth looking closely at the country for lifestyle and retirement options. When you do, the Buenos Aires district of San Telmo stands out.
You could say that the San Telmo district of Buenos Aires is the soul of this city and the heart of Argentina. San Telmo is a classic Buenos Aires neighborhood that you don’t hear much about. Most expats and retirees who consider this city are attracted to the premium neighborhoods of Recoleta, Palermo and Puerto Madero. San Telmo offers a more eclectic, fun and lively lifestyle option.
The oldest neighborhood in Buenos Aires, San Telmo, is not the “nicest” part of the city, in the same way that Greenwich Village is not the “nicest” part of New York. But people love to be in San Telmo for many of the same reasons that they come to the Village. Its original settlers were immigrant dockworkers. Today San Telmo has a bohemian feel and is home to many artists, poets, students and artisan craftspeople.
At the center of San Telmo is Plaza Dorrego, one of the oldest public squares in Buenos Aires, dating back to the 1700s. The square was initially a parking area for the horse-drawn wagons that brought produce into the city. In the 1800s, Plaza Dorrego became a public square. By the 1930s, the area was populated with the bars, restaurants and coffee shops that have given San Telmo its reputation as a good place to go for wine, song and dance. That reputation remains intact today.
On any given day along San Telmo’s narrow streets, you find musicians playing and young couples dancing the tango. You also see mimes, singers and street performers of all types. Artisans are out in force on Sunday, when all those restaurants, cafés and shops are busy with locals and tourists alike.
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Plaza Dorrego hosts a weekly outdoor market that draws visitors from all over the city and the region. This famous antique market, the Feria de San Pedro Telmo, began in 1970 and today includes more than 250 stalls offering antiques, jewelry, old books, handicraft items and all sorts of knickknacks, including a great collection of restored gramophones and Victrolas. The market, along with more than 200 other area antique shops, has given the zone the reputation for being the most prominent antiques center in all Latin America.
The cost of living and owning a home in San Telmo is a great value when you consider the caliber of the lifestyle on offer in this part of this city. In an excellent location near Plaza Dorrego, for example, you could own a two-bedroom apartment for as little as $115,000.
Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group.
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Argentina Provides an Appealing Overseas Lifestyle originally appeared on usnews.com
