The question of how society can provide dignified, affordable housing for those in need has long been a hot topic of conversation. But the Fuggerei represents an extraordinarily successful prototype that's flourished for over 500 years. Countries around the world are taking note, with studies being carried out for similar initiatives in Lithuania and Sierra Leone.

There are no plans to change the historic rules that the Fuggerei was founded on, including its 88-cent (77p/$1) annual fee. "Increasing the rent would defeat the core purpose", Count Alexander Fugger-Babenhausen, a descendant of Jakob Fugger, told CBC.

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Tour the beautiful town where rent is less than €1 a year