Retired German Donates 10M Euro Property
The German architect Otto Goger, who is 89 years old, has decided to transfer ownership of his historic home and land in Munich to a charitable organization with the aim of creating affordable housing, rather than selling it on the high-value real estate market. The house, built in 1934, was entrusted to him as a family heirloom from his father. His donation seeks to serve the community and preserve a piece of land outside the real estate market for 60 years. In collaboration with his sister, Goger signed an agreement that guarantees him the right to live there for life while prohibiting sale. The organization plans to build between 25 and 30 residential units targeted at workers, students, and young families, with an aim to rent approximately 70% of the units at prices about 20% below market value, starting from 2027. The project is expected to be ready for residents by the end of 2028.
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