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.