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Only 88 cents for rent!

In a small German town, rent hasn’t been raised in over 500 years meaning that right now residents are only paying 88 cents in Euros (less than R17) for a whole year’s rent.



Incredibly the rent was and still is one Rheinischer Gulden per year (equivalent to 0.88 euros), but it also includes three daily prayers as - the Lord's Prayer, Hail Mary, and the Nicene Creed. The conditions to live there remain the same as they were more than 500 years ago: one must have lived at least two years in Augsburg and be of the Catholic faith. The five gates are still locked every day at 10 PM.



When the Fuggerei was established by a wealthy banker, Jakob Fugger the Rich, in 1520, he intended for it to become a housing complex open to the needy and poor living nearby in Augsburg, Germany. 



Housing units in the area consist of 45 to 65m² apartments, but because each unit has its own street entrance it simulates living in a house. 



Ground-floor apartments all have a small garden and garden shed, while upper-floor apartments have an attic. All apartments have modern conveniences such as television and running water. 



One ground-floor apartment is uninhabited, serving as a museum open to the public. The doorbells have elaborate shapes, each being unique, dating back to before the installation of streetlights when residents could identify their door by feeling the handle in the dark.








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