In the German city of Augsburg, the Fuggerei housing complex has maintained its annual rent at just 75p (88 cents) since its foundation in 1521. The complex was established by merchant Jakob Fugger to provide affordable housing for needy residents.
The walled community spans 15,000 square metres and contains 142 residences, currently home to 150 people. Tenants must be Catholic Augsburgers in financial need and are required to say three daily prayers for the Fugger family, as well as perform small community services such as night watchman or gardener duties.
Flats in the Fuggerei typically measure around 60 square metres with three rooms, and ground-floor units often include a small garden. Despite the nominal rent, residents must adhere to a nightly curfew: gates close at 10pm, with latecomers charged 42p (50 cents) before midnight and 85p (one euro) after.
Tourists can visit the complex for £6.78 (8 euros), which includes access to a museum and a show residence. The Fuggerei remains a stark contrast to modern rental markets, where UK rents rose by nine per cent in 2024 and Spanish rents hit record highs in May 2025.
