The Vatican reported a significant rise in profits from its financial assets and real estate holdings, reaching €62.2 million ($72.2 million) in 2024. This marks an increase of more than 35% compared to the previous year, offering much-needed relief to its ongoing budget shortfall.
The Administration of the Patrimony of the Apostolic See (APSA), which oversees the Vatican’s property and investments, added €16 million to its earnings this year. These gains will allow the Vatican to contribute €46.1 million toward the operations of the Holy See and the Roman Curia, an increase of €8 million from 2023.
Archbishop Giordano Piccinotti, president of APSA, described the performance as one of the most impressive in recent times. The Vatican’s real estate portfolio remains extensive, with 4,234 properties in Italy and around 1,200 others abroad in cities such as Paris, London, and Geneva.
First established in 1967, APSA began releasing its annual financial statements in 2021, under the guidance of the late Pope Francis, who pushed for transparency following a series of financial scandals.
While donations have been falling in recent years, the Vatican revealed a positive shift last month. Contributions to the pope’s charitable fund grew from €52 million in 2023 to €58 million in 2024.
The newly elected Pope Leo XIV now faces the challenge of rebuilding Vatican finances amid ongoing deficits and reduced global donations. The current rise in real estate income offers a promising step forward.
