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Germany's oldest social housing complex has the lowest rents

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Anna Laage
December 13, 2025

Many German renters spend over one-third of their income on housing every month. Those lucky enough to live at Augsburg's Fuggerei pay less than €1 a year. How's that possible?

Jakob Fuggerwas not only the richest man of the 16th century, he was also a strict Catholic.
He wanted to help poor people in his hometown of Augsburg – and secure his own salvation. In 1521, the merchant built the Fuggerei, a social housing complex with 67 homes. He also set some rules in the foundation document which apply even to this day:  all residents must be Catholic, they'll pay only 88 cents in rent, and pray three times a day for him and his family.

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