A Year's Rent Costs Less Than a Cup of Coffee in Belgrade
B92 16.06.2026
In the German city of Augsburg lies Fuggerei, the world's oldest social housing complex, where residents still pay a symbolic annual rent of just €0.88.
Remarkably, this amount was established in 1521 and has remained unchanged ever since. Fuggerei was founded by Jakob Fugger, one of the most powerful and wealthy figures in 16th-century Europe. Fugger's vast trade and banking network financed emperors and kings, and his influence extended across much of Europe. Despite his immense wealth, he was deeply religious and chose to dedicate part of his fortune to charitable causes. In 1521, he established a housing
