Latest news with #JakobFugger
IOL News
a day ago
- Business
- IOL News
World's oldest social housing still charges just 88 cents rent
A general view of the streets at the Fuggerei in Augsburg, southern Germany. Founded in 1521 by the wealthy businessman Jakob Fugger and believed to be the oldest such project in the world, the Fuggerei in the city of Augsburg provides living space for 150 residents facing financial hardship. Image: Michaela STACHE / AFP WHEN German pensioner Angelika Stibi got the keys to her new home in the southern region of Bavaria this year, a huge financial weight was lifted from her shoulders. Stibi has to pay just 88 euro cents (R17) a year for her apartment in the social housing complex known as the Fuggerei, where rents have not gone up since the Middle Ages. Founded in 1521 by the wealthy businessman Jakob Fugger and believed to be the oldest such project in the world, the Fuggerei in the city of Augsburg provides living space for 150 residents facing financial hardship. Consisting of several rows of yellow terraced buildings with green shutters and sloping red roofs, the complex still resembles a medieval village. "I had a truly wonderful life until I was 55," said Stibi, a mother of two in her 60s from Augsburg. Martha Jesse poses in front of her flat in the Fuggerei in Augsburg, southern Germany. Image: Michaela STACHE / AFP Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading After she was diagnosed with cancer, "everything went from bad to worse" and she was left with no other option but to apply for social housing, she said. Waiting lists are long for apartments in the walled enclave not far from Augsburg city centre, with most applicants having to wait "between two and six or seven years", according to resident social worker Doris Herzog. "It all depends on the apartment you want. The ones on the ground floor are very popular," Herzog said. Applicants must be able to prove that they are Augsburg residents, Catholic and suffering from financial hardship. Relative of Mozart Martha Jesse has been living at the Fuggerei for 17 years after finding herself with monthly pension payments of just 400 euros, despite having worked for 45 years. "Living elsewhere would have been almost impossible," said the 77-year-old, whose apartment is filled with religious symbols. The Fuggerei was heavily damaged in World War II but has since been rebuilt in its original style. Renowned composer Wolfgang Amadeus Mozart's great-grandfather, the mason Franz Mozart, was once a resident and visitors can still see a stone plaque bearing his name. For Andreas Tervooren, a 49-year-old night security guard who has lived at the Fuggerei since 2017, the complex is "like a town within a town" or "the Asterix village in the comic books". The meagre rents at the Fuggerei are all the more remarkable given its location an hour's drive from Munich, the most expensive city in Germany to live in and one of the most expensive in Europe. Rents have also risen sharply in many other German cities in recent years, leading to a wave of protests. But not at the Fuggerei, whose founders stipulated that the rent should never be raised. Daily prayer Jakob Fugger (1459-1525), also known as Jakob the Rich, was a merchant and financier from a wealthy family known for its ties to European emperors and the Habsburg family. Fugger set up several foundations to help the people of Augsburg, and they continue to fund the upkeep of the Fuggerei to this day. The annual rent in the Fuggerei was one Rhenish gulden, about the weekly wage of a craftsman at the time - equivalent to 88 cents in today's money. Although some descendants of the Fugger family are still involved in the management of the foundations, they no longer contribute any money. "We are financed mainly through income from forestry holdings, and we also have a small tourism business," said Daniel Hobohm, administrator of the Fugger foundations. The Fuggerei attracts a steady stream of visitors, and the foundations also receive rental income from other properties. In return for their lodgings, residents of the Fuggerei must fulfil just one condition - every day, they must recite a prayer for the donors and their families.
RTÉ News
2 days ago
- General
- RTÉ News
Middle Age rents live on in German social housing legacy
When German pensioner Angelika Stibi got the keys to her new home in the southern region of Bavaria this year, a huge financial weight was lifted from her shoulders. Angelika has to pay just 88 cents a year for her apartment in the social housing complex known as the Fuggerei, where rents have not gone up since the Middle Ages. Founded in 1521 by the wealthy businessman Jakob Fugger and believed to be the oldest such project in the world, the Fuggerei in the city of Augsburg provides living space for 150 residents facing financial hardship. Consisting of several rows of yellow terraced buildings with green shutters and sloping red roofs, the complex still resembles a medieval village. "I had a truly wonderful life until I was 55," said Angelika, a mother of two in her 60s from Augsburg. After she was diagnosed with cancer, "everything went from bad to worse" and she was left with no other option but to apply for social housing, she said. Waiting lists are long for apartments in the walled enclave not far from Augsburg city centre, with most applicants having to wait "between two and six or seven years", according to resident social worker Doris Herzog. "It all depends on the apartment you want. The ones on the ground floor are very popular," Herzog said. Applicants must be able to prove that they are Augsburg residents, Catholic and suffering from financial hardship. Relative of Mozart Martha Jesse has been living at the Fuggerei for 17 years after finding herself with monthly pension payments of just €400, despite having worked for 45 years. "Living elsewhere would have been almost impossible," said the 77-year-old, whose apartment is filled with religious symbols. The Fuggerei was heavily damaged in World War II but has since been rebuilt in its original style. Renowned composer Wolfgang Amadeus Mozart's great-grandfather, the mason Franz Mozart, was once a resident and visitors can still see a stone plaque bearing his name. For Andreas Tervooren, a 49-year-old night security guard who has lived at the Fuggerei since 2017, the complex is "like a town within a town" or "the Asterix village in the comic books". The meagre rents at the Fuggerei are all the more remarkable given its location an hour's drive from Munich, the most expensive city in Germany to live in and one of the most expensive in Europe. Rents have also risen sharply in many other German cities in recent years, leading to a wave of protests. But not at the Fuggerei, whose founders stipulated that the rent should never be raised. Jakob Fugger (1459-1525), also known as Jakob the Rich, was a merchant and financier from a wealthy family known for its ties to European emperors and the Habsburg family. Fugger set up several foundations to help the people of Augsburg, and they continue to fund the upkeep of the Fuggerei to this day. The annual rent in the Fuggerei was one Rhenish gulden, about the weekly wage of a craftsman at the time - equivalent to 88 cents in today's money. Although some descendants of the Fugger family are still involved in the management of the foundations, they no longer contribute any money. "We are financed mainly through income from forestry holdings, and we also have a small tourism business," said Daniel Hobohm, administrator of the Fugger foundations. The Fuggerei attracts a steady stream of visitors, and the foundations also receive rental income from other properties. In return for their lodgings, residents of the Fuggerei must fulfil just one condition - every day, they must recite a prayer for the donors and their families.
Local Germany
2 days ago
- General
- Local Germany
Residents of German social housing legacy still pay 'Middle Age rents'
When German pensioner Angelika Stibi got the keys to her new home in the southern region of Bavaria this year, a huge financial weight was lifted from her shoulders. Stibi has to pay just 88 euro cents a year for her apartment in the social housing complex known as the Fuggerei, where rents have not gone up since the Middle Ages. Founded in 1521 by the wealthy businessman Jakob Fugger and believed to be the oldest such project in the world, the Fuggerei in the city of Augsburg provides living space for 150 residents facing financial hardship. Consisting of several rows of yellow terraced buildings with green shutters and sloping red roofs, the complex still resembles a medieval village. "I had a truly wonderful life until I was 55," said Stibi, a mother of two in her 60s from Augsburg. After she was diagnosed with cancer, "everything went from bad to worse" and she was left with no other option but to apply for social housing, she said. Waiting lists are long for apartments in the walled enclave not far from Augsburg city centre, with most applicants having to wait "between two and six or seven years", according to resident social worker Doris Herzog. "It all depends on the apartment you want. The ones on the ground floor are very popular," Herzog said. Applicants must be able to prove that they are Augsburg residents, Catholic and suffering from financial hardship. Advertisement Relative of Mozart Martha Jesse has been living at the Fuggerei for 17 years after finding herself with monthly pension payments of just 400 euros, despite having worked for 45 years. An inner view shows Martha Jesse's flat in the Fuggerei in Augsburg. (Photo by Michaela STACHE / AFP) "Living elsewhere would have been almost impossible," said the 77-year-old, whose apartment is filled with religious symbols. Advertisement The Fuggerei was heavily damaged in World War II but has since been rebuilt in its original style. Renowned composer Wolfgang Amadeus Mozart's great-grandfather, the mason Franz Mozart, was once a resident and visitors can still see a stone plaque bearing his name. READ ALSO: 'Nachzahlung' - What are the rules around additional housing costs in Germany? For Andreas Tervooren, a 49-year-old night security guard who has lived at the Fuggerei since 2017, the complex is "like a town within a town" or "the Asterix village in the comic books". The meagre rents at the Fuggerei are all the more remarkable given its location an hour's drive from Munich, the most expensive city in Germany to live in and one of the most expensive in Europe. Rents have also risen sharply in many other German cities in recent years, leading to a wave of protests. READ ALSO: Which German cities are the most in need of new housing? But not at the Fuggerei, whose founders stipulated that the rent should never be raised. Daily prayer Jakob Fugger (1459-1525), also known as Jakob the Rich, was a merchant and financier from a wealthy family known for its ties to European emperors and the Habsburg family. Fugger set up several foundations to help the people of Augsburg, and they continue to fund the upkeep of the Fuggerei to this day. The annual rent in the Fuggerei was one Rhenish gulden, about the weekly wage of a craftsman at the time -- equivalent to 88 cents in today's money. Although some descendants of the Fugger family are still involved in the management of the foundations, they no longer contribute any money. "We are financed mainly through income from forestry holdings, and we also have a small tourism business," said Daniel Hobohm, administrator of the Fugger foundations. The Fuggerei attracts a steady stream of visitors, and the foundations also receive rental income from other properties. In return for their lodgings, residents of the Fuggerei must fulfil just one condition -- every day, they must recite a prayer for the donors and their families.
France 24
2 days ago
- Business
- France 24
Middle Age rents live on in German social housing legacy
Stibi has to pay just 88 euro cents ($1.01) a year for her apartment in the social housing complex known as the Fuggerei, where rents have not gone up since the Middle Ages. Founded in 1521 by the wealthy businessman Jakob Fugger and believed to be the oldest such project in the world, the Fuggerei in the city of Augsburg provides living space for 150 residents facing financial hardship. Consisting of several rows of yellow terraced buildings with green shutters and sloping red roofs, the complex still resembles a medieval village. "I had a truly wonderful life until I was 55," said Stibi, a mother of two in her 60s from Augsburg. After she was diagnosed with cancer, "everything went from bad to worse" and she was left with no other option but to apply for social housing, she said. Waiting lists are long for apartments in the walled enclave not far from Augsburg city centre, with most applicants having to wait "between two and six or seven years", according to resident social worker Doris Herzog. "It all depends on the apartment you want. The ones on the ground floor are very popular," Herzog said. Applicants must be able to prove that they are Augsburg residents, Catholic and suffering from financial hardship. Relative of Mozart Martha Jesse has been living at the Fuggerei for 17 years after finding herself with monthly pension payments of just 400 euros, despite having worked for 45 years. "Living elsewhere would have been almost impossible," said the 77-year-old, whose apartment is filled with religious symbols. The Fuggerei was heavily damaged in World War II but has since been rebuilt in its original style. Renowned composer Wolfgang Amadeus Mozart's great-grandfather, the mason Franz Mozart, was once a resident and visitors can still see a stone plaque bearing his name. For Andreas Tervooren, a 49-year-old night security guard who has lived at the Fuggerei since 2017, the complex is "like a town within a town" or "the Asterix village in the comic books". The meagre rents at the Fuggerei are all the more remarkable given its location an hour's drive from Munich, the most expensive city in Germany to live in and one of the most expensive in Europe. Rents have also risen sharply in many other German cities in recent years, leading to a wave of protests. Daily prayer But not at the Fuggerei, whose founders stipulated that the rent should never be raised. Jakob Fugger (1459-1525), also known as Jakob the Rich, was a merchant and financier from a wealthy family known for its ties to European emperors and the Habsburg family. Fugger set up several foundations to help the people of Augsburg, and they continue to fund the upkeep of the Fuggerei to this day. The annual rent in the Fuggerei was one Rhenish gulden, about the weekly wage of a craftsman at the time -- equivalent to 88 cents in today's money. Although some descendants of the Fugger family are still involved in the management of the foundations, they no longer contribute any money. "We are financed mainly through income from forestry holdings, and we also have a small tourism business," said Daniel Hobohm, administrator of the Fugger foundations. The Fuggerei attracts a steady stream of visitors, and the foundations also receive rental income from other properties. In return for their lodgings, residents of the Fuggerei must fulfil just one condition -- every day, they must recite a prayer for the donors and their families. © 2025 AFP
Daily Mail
11-06-2025
- Business
- Daily Mail
The European village where rent hasn't been raised since 1520
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 meters 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. 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.
