The cheapest residential city in the world with 1$ annual rent

The cheapest residential city in the world with 1$ annual rent

Currently, renting an apartment is very expensive, especially in cities. In addition, the owner continues to increase the rent each year. But this is not the case in the “Fuggerei” residential complex in Germany. Where rental prices have remained unchanged since 1520 until today!

cheapest residential city in the world

In the German city of Augsburg, the “Fuggerei” social housing complex was built as a means of providing cheap housing for workers and the poor. The Fuggerei complex is the world’s oldest social housing complex built more than 500 years ago and is still in use today.
It is surprising that the rent has remained the same since 1520 until today, and still pays people living in the complex 1 guilder Rhine, which is equivalent to 0.88 euros or just under $ 1.

 

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The complex was founded in the city of Augsburg by Jacob Fugger, one of the greatest businessmen in Europe as early as the fourteenth century. His family was one of the richest European families in Germany, and he had great influence in the ruling class and the foundations of the era of capitalism and private monopolies.

cheapest residential city in the world

But because of his approach to trade and his pursuit of illegal ways to reach positions of influence, Fugger was hated in the last years of his life, and attacked by many denominations of Catholics, nobles, traders and Protestants, and workers were discontented by the abolition of the regulations of speculation and money in the Middle Ages.

In order to atone for his sins, he decided to build a small town of 106 houses for the Catholic poor in Augsburg, including the residential complex of Fuggerei.

 

Despite extensive damage to the compound during the Second World War, it recovered its first state after the restoration work and remains inhabited to this day. The complex consists of 67 houses and 147 apartments, as well as St. Mark’s Basilica and an administrative building.

 

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The complex is a popular tourist destination in the city of Augsburg to introduce its sections and see the shape of life. An uninhabited apartment in the complex was deliberately left to be a tourist attraction to identify the nature of the complex’s social structure.

 

Despite the city’s seductive atmosphere, there are conditions for accommodation.
Of these conditions: that the person exceeds 60 years of age, and be a Catholic, along with other requirements. The names of those who wish to reside there are on a waiting list of up to four years.

cheapest residential city in the world

cheapest residential city in the world

cheapest residential city in the world

cheapest residential city in the world

 

The cheapest residential city in the world with 1$ annual rent

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