Name: Renting for just 88 cents per year in Germany
Uploaded: 2025-12-13T15:07:28.120Z
Duration: 5 min 4 s
Description: Affordable housing is rare in Germany. 40% of households spend over a third of their income on rent. But in Augsburg, some have paid almost no rent for over 500 years!

Affordable housing is rare in Germany. 40% of households spend over a third of their income on rent. But in Augsburg, some have paid almost no rent for over 500 years!

Augsburg

The Fuggerei in Augsburg, Bavaria, is a 500-year-old social housing complex where residents pay just 88 cents per year in rent. To qualify, applicants must be Catholic, in need, and from Augsburg, with the community currently home to about 150 people. 

Founded in 1521 by Jakob Fugger, the complex is managed by a foundation and receives no government support, relying instead on tourism and timber trade. Residents are required to pray daily for the Fugger family, and the selection process can take several years, with final approval given by a Fugger descendant.

Renting for just 88 cents per year in Germany

Rent for 88 cents per year during a housing crisis? In this complex in Augsburg, Bavaria, it is reality. But anyone wanting to move in here has to meet some unusual conditions. One of the residents takes us behind the scenes of the Fuggerei, the world's oldest existing social housing complex. Hi, I'm Angelika Stiebi. I've been living here in the Fuggerei since April 1st for 88 cents per year. And that's no April Fool's joke. The Fuggerei, with its 67 buildings, is 500 years old. To qualify for an apartment here, you have to be Catholic, in need and from Augsburg. Some 150 people live here. Angelika's 60-square-meter apartment has been renovated and modernized. Besides the symbolic rent, she pays about 100 euros a month for utilities. It even has a small backyard. Often other residents come by for a visit. The average age in the Fuggerei is 60, but some young people live here too. Not only is moving into the Fuggerei subject to special conditions. At night special rules are in place. At 10 pm the gates are closed and guarded by residents. Anyone arriving late has to pay. I have to ring the bell. The night watchman opens up and I pay him 50 cents if it's before midnight. Or a whole euro if it's later. Angelika owes her flat to Jakob Fugge, the 16th century's richest man. In 1521, the merchant donated the complex to people in need. The rents set in the foundation deed match the monthly wage in the late Middle Ages. One Rhenish guilder, and has not been increased since. This is Jakob Fugge the rich. I would say he's my best friend. Because he gave me the opportunity to live here. Jakob Fugge was not only extremely rich, but also a devout Catholic. He wanted to help the poor and save his soul from purgatory. This is why there is another condition for residents. To this day, they must pray for him and his family three times a day. Angelika is happy to do so in the small church at the Fuggerei. I have to pray for my children. I have to pray for my family. Sometimes I repeat the three prayers ten times. Because it just flows like a mantra. It feels good to be able to give something back in return. No, nobody checks up on you. How could they? Now the Fuggerei is run by a foundation and receives no government support. It is financed by timber trade and tourism. Some 200,000 visitors come each year. Angelika never imagined. that she would be one day in need. She worked in the restaurant industry, was active in sports and travelled extensively. Then it all changed. I always thought I was covered and nothing could happen to me. And then, when I was just 55, I was diagnosed with breast cancer. While the pension fund and the employment office disputed who was responsible for her, she used up her savings. Finally, she applied to the Fuggerei. When she was accepted, a weight was lifted from her shoulders. The first thing I did was weigh myself, because it felt like I was three kilos lighter without the burden. All the residents are tended by social workers. Doris Herzog interviews new applicants. There is no strict waiting list. Instead, she focuses on personality. I quickly realized that Angelika belonged in the Fuggerei. It was a perfect fit. I knew that this person was just perfect for this apartment. And that's how it came to be. But before people can actually move into an apartment in the Fuggerei, up to six years can go by. Once applicants have gone through the process, their application is finally submitted to one of the Fugga descendants. Ultimately, the Fugga family still decides who can actually move in. Angelika waited three years for her apartment and wants to stay forever. The rental contracts are unlimited. The world's oldest social housing project saved Angelika during a difficult time, and she wishes there were more people like Jakob Fugga. I'd like to see such opportunities for other people too, so they can lead a dignified life if they've worked hard, been honest, and fallen on hard times. There are enough rich and super-rich. A 500-year-old village within the city that still holds together today. How could a project like the Fuggerei look like where you live?

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