German housing complex where rent hasn’t gone up in 500 years

German housing complex where rent hasn’t gone up in 500 years
Dailynaijamode

In a time when the cost of renting a home seems to be getting higher virtually everywhere in the civilized world, the residents of an idyllic housing complex in Germany are living in an inflation-free utopia.

The people of Fuggerei, a walled district on the outskirts of Augsburg, pay only $1 a year on rent, the same as the first tenants who originally moved here nearly 500 years.

Fuggerei was founded in 1514 by an affluent businessman named Jakob Fugger, as a social housing complex for the poorest people of Augsburg.

The Fugger family moved to the bustling German city in the mid-14th century and established a prosperous cloth trading.

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