There are 4,086 real estate units headed by Apsa, the Vatican dicastery that manages real estate and financial assets: overall these properties represent a commercial area of approximately 1.5 million square meters.
The figure emerges from the budget of the dicastery, chaired by Nunzio Galantino, who in an interview with Vatican News announces that a surplus of 8.11 million euros has been achieved – net of the 30 million contribution to the Holy See’s budget – “despite the difficulties caused by the pandemic. The main objective remains the service of evangelization and attention to the weakest groups as shown by the aid to tenants in difficulty ». Furthermore, in 2021 Apsa made a greater contribution to the Curia (+ 4.6 million euros) compared to the practices adopted in previous years.
As for Italy, says Galantino, Apsa pays direct and indirect taxes deriving from the management and possession of all the properties it owns in Italy. For the tax year 2021, it paid € 5.83 million for the Imu and € 2.57 million for the Ires. In the same period, the Administration continued its policy of helping tenants in difficulty due to the crisis.
From the financial management profit of nearly 20 million
Asset management achieved a positive result of € 19.84 million with an increase of € 4.5 million compared to 2020. This improvement – says Galantino – is attributable to the unrealized increase in the valuation of securities at the end of the year. Real estate management achieved a positive result of € 20.77 million with an increase of € 5.5 million compared to 2020, and this is attributable to a slight increase in rents and a decrease in maintenance costs. Finally, the management of other activities achieved a negative result of € 2.5 million but with an improvement of € 6.1 million compared to 2020.
The real estate assets are divided into the following types of portfolios: free market (1,866 units corresponding to 391,360 m2, 27% of the total), subsidized rent (1,249 units corresponding to 195,074 m2, 13%), zero rent (971 corresponding units to 876.630 sqm, 60%).