While rents continue to rise like crazy not only in Spain, but also in the rest of Europe, in the German district of Fuggerei -located in Augsburg, residents continue to pay only 0.88 euros per year to live in one of its houses. for more than 500 years. Fuggerei is not just any neighborhood, but one of the oldest social housing projects in the world.
This medieval village was built in 1521 with the idea of helping the most disadvantaged people. For this reason, its founder Jakob Fugger – one of the world’s most powerful bankers of all time– decreed that the annual income would be 1 Rhenish guilder (0.88 euros today) forever..
However, the price of rent is not the only thing that has remained the same for more than 500 years. Also the requirements to be met to be able to live in the neighborhood: be Catholic, pray three times a day an Our Father, a Hail Mary and a creed for the Fugger family, be over 60 years of age, have lived at least two years in Augsburg and have been destitute without incurring any debts.
The neighborhood – which is fenced – has about 70 houses and 150 apartments, which are between 45 and 65 square meters. They have two bedrooms, living room, kitchen and some even have a small garden. Over the years the village has been expanded and now also has a church and a small museum.
Despite the unconventional requirements, renting housing in this neighborhood is a complicated task. In fact, it is estimated that the waiting time is estimated to be about four years. On the other hand, it has become a tourist attraction and receives an estimated 200,000 visitors per year. In order to visit it, tourists must pay a fee of four euros.