Fuggerei

The World's Oldest Housing Project

The world's oldest continuous "social settlement" is der Fuggerei in Augsburg, Germany. It was established 1521 by Jakob Fugger, a wealthy banker, merchant, and mining investor, to house the needy. The rent is the same as it was then, one Rhenish Guilder, which is less than one euro. Per year. The 67 houses of Fuggerei hold 140 apartments, with 150 residents. The neighborhood is a gated community, so to speak, with enclosed walls, its own church, and a museum. It is still supported by the Fugger Foundation, through returns on its investments over almost 500 years, supplemented by admission to the enclave and museum, which costs 4 euros. More