According to a report by the Vatican Authority, most of the Vatican’s real estate (4,051) is located in Italy, most of which are used by church affiliates or rented out at discounted prices, rather than rented out at market prices. Church heritage. The Holy See (APSA) obtained by Reuters, Catholic News Agency and other media. According to reports,
APSA also owns more than 1,000 properties in London, Geneva, Paris and other cities outside of Italy, including a real estate investment in London. The Vatican controversially invested more than US$400 million nearly a decade ago.
Forbes has contacted the Vatican for comments.
TANGENT
According to a budget report obtained on Saturday, the Holy See, the central administrative body of the Catholic Church, has an operating deficit of US$76.3 million in 2020, down from US$93.2 million in 2019. Magazine. In an interview with the Vatican News, Church official Father Juan Antonio Guerrero Alves said that the Holy See’s performance in 2020 was “better than we expected”, partly because the church cut spending during the coronavirus pandemic. However, the church reports that the overall deficit in 2020 is larger than in 2019, mainly due to the decline in unrealized financial gains.
Key background
The financial practices of the Vatican, especially its real estate, have caused scandals and scrutiny for many years. Pope Francis last year reorganized the church’s supervision of real estate investment. In the previous years, due to allegations of corruption and local financial mismanagement, he sometimes tried nervously to reform the Holy See. Several people have been tried for allegedly defrauding the church millions of dollars in real estate investments in London nearly a decade ago.

By Peter

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