Think of buying a flat in Argentina and chances are the hip Palermo neighbourhood of Buenos Aires, with its sleek boutiques and funky bars, would have more appeal than a middle-class Jewish district that sprang up around a shoe factory.

But Palermo has almost become a victim of its own success and sky-high property prices are increasingly making it the preserve of the seriously rich – at least by Argentine standards. So locals and foreigners hunting for charm on the cheap are heading a few blocks south-west, to the quieter, cobbled streets of Villa Crespo (pictured below).