Wild vines cling to the facades of the picturesque, ochre-coloured terraced houses. With their red tiles, green window shutters and neat gables, they look very snug and cosy. Many of the visitors that flow through the narrow streets of the Fuggerei Augsburg each day would be quite happy to move in themselves. Especially since the rent is unbelievably low: residents in the world’s oldest social housing complex pay just 88 cents a year for basic rent plus costs. Catholic citizens of Augsburg who have fallen on hard times have been living here for 500 years. The rent is equivalent to one “Reichs-Gulden”. That was the rent set by the founder of this complex – and that’s still what is demanded today.