I have been here many times, from walking up the cerro and arriving here as a final destination or…read moreone of my first stops after getting off the funicular, the Paseo Yugoslavo always welcomes you with inviting views and beautiful street art.
However, one of the most exciting memories I have involving Paseo Yugolsavo is during New Years Eve - one of the craziest nights in Valparaiso for sure! Just as you are able to see over the whole entire city from this plaza, you also have the best seat to watch the infamous fireworks show in Valparaiso. These are known to be one of the biggest in all of Latin America and people come from all over the world as well as Chile to enjoy the burst of lights and colors above the bay.
If you are shy or claustrophobic I do not recommend coming here during new years as it is one huge and crowded street party where both alcohol and laughter fill the streets (as well as, unfortunately, urine...seriously...rivers of pee...) Despite that last part, it was one of the most exciting New Years I have spent, a party that starts around 8pm and doesn't stop until about 11am (if not later).
Although I best remember Paseo Yugoslavo for these moments, it is better known for its beautiful view (it was one of the first places on the hill to be converted to a look-out). Victorian-like homes line the paseo's way as well as the Palace Baburizza, which is currently the museum of Bellas Artes of Valparaiso. What makes this one of the best look-out spots is because it has a view directly to the Plaza Sotomayor, where the navy base is and the memorial for those who fought in the war.
This Paseo is also where both the hills Alegre and Concepción collide (on the Montealegre street), allowing for easy access via bicycle to the rest of the city.
I recommend coming in the evening to watch the sunset above this beautiful port town.