Europe’s secret city with an annual rent of one dollar has a controversial catch

Looking to escape astronomical rents and the cost of living crisis? This could be the place for you.

At a time when the cost of living remains crushingly high, driving rents and airline tickets into the seven-figure range, the German village of Fuggerei offers a seemingly idealistic solution: year-round living for just one US dollar. This approach sounds so extraordinary that it sounds like a fairy tale, but it is nonetheless very much a reality.

The Fuggereidorf is located in Augsburg, one of the oldest cities in the country with a 500-year history. The village houses about 150 low-income tenants in its 142 two-story apartments. The tenants range from retirees on minimal pensions to young adults who cannot afford an increasingly expensive city.

A village for the needy since 1520

Tenants pay just 0.88 euros, a fraction of what an apartment normally costs in Germany. The village was founded in 1520 by a wealthy banker with the hilarious name Jakob Fugger. Fugger’s idea was to build a housing complex to serve the needy and poor in Augsburg – a tradition that is proudly continued to this day.

The Fuggerei is a village with seven streets and an area of ​​around 15,000 square meters. Residents live comfortably in the village and have all the necessary facilities, including a kitchen, a bathroom, a bedroom and a children’s room.

The village has five entrances, a Catholic church and a museum. During World War II, Augsburg was heavily bombed and the village was also badly damaged. Fortunately, the residents were able to seek shelter in an internal bunker and remained safe. After the war, the village was rebuilt.

What’s the catch?

The village editions are still in the hands of the Fuggerei family today.. The money for maintaining the village comes from investments in forestry and real estate. Tourists who visit the village contribute additional income to the foundation. The entrance fee for tourists of €4 per ticket accounts for about 20% of the income.

The only requirement for living in the complex is a proven commitment to the Catholic faith and proof of having lived in Augsburg for at least two years. Tenants are obliged to pray three times a day in the village church, whose doors are locked promptly at 10 p.m. After this time, no one is allowed to leave or enter the building without prior permission.

Would you give up nightly drinking for the cheapest rent in the world? Or is your freedom worth too much to you?