1$ a year for a home: The world's oldest social housing complex

1$ a year for a home: The world's oldest social housing complex

The Fuggerei is a five hundred-year-old social housing complex in Augsburg, Germany. It is still in use today, and residents pay just 1$ a year in rent. The complex was founded by Jakob Fugger the Rich, who wanted to provide affordable housing for the poor and needy. To live in the Fuggerei, residents must be Catholic and residents of Augsburg, and they must be able to prove that they are in need of financial assistance. Residents are also required to say three prayers a day for the soul of Jakob Fugger.

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