Vatican reveals it owns more than 5,000 properties

[left-of-center2012]

The Vatican has released information on its real estate holdings for the first time, revealing it owns more than 5,000 properties, as part of its most detailed financial disclosures ever. The information released on Saturday was contained in two documents – a consolidated financial statement for 2020 for the Holy See and the first ever public budget for the Administration of the Patrimony of the Apostolic See (Apsa).

Apsa, a sort of general accounting office, manages real estate and investments, pays salaries, and acts as a purchasing office and human resources department. Between the two documents – each with an unprecedented number of pie charts, graphs and maps – and two explanatory interviews, the Vatican issued more than 50 pages of financial material. The 30-page Apsa budget showed it owns 4,051 properties in Italy and about 1,120 abroad, not including its embassies around the world.

About 40% were institutional buildings such as schools, convents and hospitals. The documentation showed Apsa owns properties as investments in upmarket areas of London, Geneva, Lausanne and Paris.

https://www.theguardian.com/world/2021/jul/24/vatican-reveals-it-owns-more-than-5000-properties

[Sherman A1]

1. No real surprise

I would be more surprised at the folks who are surprised by this.

[Wounded Bear]

5. I'm "surprised" (and suspicious) that it's not more...

[tetedur]

2. The Roman Catholic Church owns 70 million hectares.

https://www.lovemoney.com/gallerylist/70168/the-worlds-biggest-private-landowners

The largest landowner in the world is not a major oil magnate or a real estate investor. No, it's the Roman Catholic Church. According to lovemoney.com, the church owns more than 70 million hectares. An area that is larger than France. It is not just about agricultural land, but also about land in the most expensive locations in London, Paris and New York.

According to this link:

The Catholic Church owns roughly 177 million acres of land. It is the largest non-governmental land owner in the world.

https://realestate.nd.edu/research/church-properties/


I wonder why there is a discrepancy or why they are talking about the Vatican as opposed to the Catholic Church.

[rurallib]

8. I would have guessed that the Mormons have a lot more than listed

77. Church of Jesus Christ of Latter-day Saints: 405,000+ hectares

[Mr.Bill]

3. I would have guessed far more. n/t

[Chainfire]

4. 2,000 years of compounded grifting pays off.

I wonder how Jesus would feel about all of that wealth?

[Wounded Bear]

6. I think of the Catholic Church as the first modern multi-national corporation...nt

[Ilsa]

7. No wonder they wouldn't let priests marry

and "legally" procreate. Too much of a chance that heirs would claim personal or real property instead of it going to the church.

[Enoki33]

9. Good argument for them to pay taxes.