Inside this German Village, Rent of per house is Rs 70 a year!!
In the times when the cost of renting a house seems to be getting higher virtually everywhere and people are not able to live with the free mind as they are pressurized with the rent amount, the residents of this housing complex in Germany are living in an inflation-free.
The people of Fuggerei, a walled district on the outskirts of Augsburg, pay only Rs 70 that is $1 a year on rent, the same as the first tenants who originally moved here nearly 500 years ago. Fugger was founded in 1514 by Jacob Fugger as a social housing complex for the poor of Augsburg.
Entry fee of tourist is Rs 300
After finding out about the Fuggeri colony, the number of tourists is also increasing, after which the trust has started taking entry fee of 300 rupees from tourists coming here. Simultaneously, a museum is built inside this colony so that tourists can see the houses here from inside.
Who was Jacob Fugger?
Jacob came to the German city in the 14th century with the Fugger family. They came here to start the textile business. By the 16th century, the Fugger family had become the richest family in Augsburg. With the trade of clothing, they expanded into the real estate and banking sector. Because of this, Jacob Fugger became the wealthiest banker. The people of Augsburg named him “Jacob Fugger the Rich”. He started construction of Fugere Colony in 1514 for poor and destitute people there. Jakob Fugger’s dream was to offer affordable housing to people in need, regardless of social status, age or family background. The only requirements were that applicants had to be of Catholic fate and registered residents of Augsburg for at least two years.
Fuggerei residents had to pay only one Rhenish guilder in monthly rent, and thanks to a trust fund established by Jakob Fugger almost 500 years ago, the cost has remained unchanged ever since.
