Rents in the UK rose by nine per cent in 2024 with those living in London hardest hit by price rises.
And the issue isn’t unique to the UK. Rental prices hit a record high in Spain in May while rents in Ireland climbed by more than three per cent between January and March in 2025.
So cash-strapped European renters might find it hard to believe that there’s a housing complex on the continent where the rent hasn’t gone up in 500 years.
Located within the city of Augsburg, the Fuggerei housing complex was created in 1521 by a German merchant named Jakob Fugger.
Fugger designed the unique housing complex to help Augsberg residents in need. Since its conception, residents have been asked to pay just 88 cents/75p a year in rent.
Surrounded by a wall, the Fuggerei complex has 142 residences, across a 15,000 square metres site. There are currently 150 residents living there.
On top of their 75p rental fee, residents are also required to say three daily prayers for the current owners of the Fuggerei.
They must also ‘perform small services for the common welfare’. Service jobs include acting as a night watchman or working as a gardener within the walled complex.
Located within the city of Augsburg, the Fuggerei housing complex was created in 1521 by a German merchant named Jakob Fugger
Fugger designed the unique housing complex to help Augsberg residents in need. Since its conception, residents have been asked to pay just 88 cents/75p a year in rent
Potential Fuggerei residents will need to meet a few criteria before they’re allowed to move in
A typical flat in Fuggerei is around 60sqm with three rooms. Ground floor flats tend to come with a small garden.
But potential Fuggerei residents will need to meet a few criteria before they’re allowed to move in.
The website clarifies that only needy Catholic Augsburgers will be accepted as residents.
And residents also need to comply with the complex’s nightly curfew.
Fuggerei’s gates are closed at 10pm and residents need to pay the watchman a 50 cent/42p fee if they arrive home after 10. The fee rises to one euro/85p, slightly more than their annual rent, if they arrive after midnight.
If you don’t meet the criteria to move in as a resident, you can still get a glimpse inside the unusual walled complex as a tourist.
Adult tourist tickets cost 8 euros/£6.78 and include entry to Fuggerei’s museum, and a display residence.
