There’s an area in Germany where the price of rent hasn’t changed for 500 years

Let's not beat around the bush, the high rates of rent that people have to put up with are an absolute pile of s**t.

Your hard-earned money is going into your landlord's pocket each month instead of at least paying off part of a chunk of a mortgage, and even worse is the price going up year-on-year.

So many people are waiting to hear whether their rent is going to be put up yet again, with rent chomping up a bigger proportion of the pay packet than ever before.

With that in mind the idea of a place where the rent hasn't risen for 500 years sounds incredibly appealing, but it's the only spot in the world where such a thing exists.

If you wanted to live there then we'll also need to warn you that in addition to there being limited spaces there's also a rather strict list of entry requirements.

Günter Schneider/ullstein bild via Getty Images

In the city of Augsburg, Germany, there's a walled enclave called the 'Fuggerei'.

If you do get a look around the place you'll be treated to the sight of some beautiful houses which have been built to look as close to how they did back when the Fuggerei was founded in 1516.

Something else this place is keen on is keeping rent for residents down at the same level it was back in 1516, and if you think that means cheap rent then you'd be correct.

The cost to live in the Fuggerei for one year is just a little bit less than a Euro, 88 cents (77p) to be precise, and you'll need to say three prayers a day for the owners of the community.

For this you'll get an apartment that's between 45 and 65 square metres, with access to a garden shed if you're on the ground floor and an attic if you live upstairs.

DeAgostini/Getty Images

While the look of the place might be old fashioned they do all have running water and electricity, and each home has its own unique doorbell so you can tell which place is yours even when it's dark.

Of course since the invention of streetlights you don't need to tell which door is yours by the shape of the bell but it's still a nice touch.

However, if you wanted to live in the Fuggerei and pay the same rent that people in 1516 did then you also need to meet the same entry requirements.

You need to have lived in Augsburg for two years, be Catholic in your religion and be suffering from poverty without being in debt.

That all sounds a bit specific, but given the clamour for fairly priced properties on the rental market isn't it worth consideration?

Topics: World News, Money, Home

Joe Harker

Joe graduated from the University of Salford with a degree in Journalism and worked for Reach before joining the LADbible Group. When not writing he enjoys the nerdier things in life like painting wargaming miniatures and chatting with other nerds on the internet. He's also spent a few years coaching fencing. Contact him via [email protected]

@MrJoeHarker