In a quiet corner of Augsburg, Germany, there’s a place where rent has stayed the same for more than 500 years, just €0.88 a year.
It’s called the Fuggerei, a historic housing complex founded in 1521 by Jakob Fugger, a wealthy merchant and banker.
According to Wikipedia, he created it as a charitable settlement for needy Catholic citizens of the city, setting the rent at one Rhenish guilder per year, an amount that hasn’t changed, even today.
The homes are modest but well-kept, nestled along cobbled paths with tidy gardens.
Residents still follow a few simple traditions, including daily prayers for the Fugger family and observing a nightly curfew.
With more than a hundred people living there today, the Fuggerei stands as a living example of generosity that has truly stood the test of time.
