In the face of escalating real estate value and booming inflation, a village in Germany has yearly rental fees of just 1$! The village named-Fuggerei-is situated in Augsburg, Germany. Founded by a wealthy banker, Jakob Fugger, in 1521, the village is the first social housing complex.

The principal objective of the accommodation is to give back to society which explains the yearly rent of 1$. The charitable trust founded by Jakob Fugger covers the expenses and maintenance fees of the complex.

However, the interested tenants have to meet peculiar criteria. Apart from being a catholic and permanent residents of Augsburg, the tenants also have to pray three times a day for the Fuggerei family and abide by the 10 PM curfew at night.

Lush green village and museum are open to tourists for a fee of 4.15$.

The housing complex may seem unreasonably cheap, especially by modern-day standards, but it was originally set up to help the poorest community in Augsburg. In 1514, a wealthy businessman, Jakob Fugger, founded the Fuggerei as a social housing complex for the poorest people in Augsburg. Despite Jacob Fugger's dream of providing rich and affordable housing, he was, in reality, the richest banker in the city. The Fugger family moved to Augsburg, Germany, in the mid-14th century, where they established a trading company for cloth. However, Jacob Fugger wanted to give something back to the community.

They aimed to create and provide social housing for those in need, regardless of age, family background or social status. Therefore, in 1514 he started the construction of Fugrei for society, which still exists today. However, to live in affordable housing, some requirements still apply today. To apply to live in Fuggerei, you must be Catholic and have been a resident of Augsburg for at least two years. Once accepted, you had to agree to a 10 p.m. curfew and commit to praying three times a day at the local church for the benefactors, who in this case were the Fugger family. Yet to this day, the residents must follow these rules.

500 years ago, when the first settlers of Fuggerei arrived here, they paid a small sum, and thanks to a trust fund created in 1514 by the wealthy Jakob Fugger, that sum remained unchanged. Rent in Fugrei is still only $1 a year, but residents have to pay $100 for heating and maintenance of buildings plus another dollar for maintenance at the local church. This price is still low when compared to rent prices around the world. As a result, Fugeerei has escaped the effects of inflation.

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