Farewell to the large apartments in the heart of Rome rented free – or almost. From now on the goods of the Holy See will be aligned on the market and those who occupy them will put their hands in their pockets, like everyone else. The measure concerns the twenty cardinals who work in Italy, but also the pope’s ministers and the various senior officials of the dicasteries.
There will no longer be free or preferential rates for accommodation for cardinals and officials of the Roman Curia in the Vatican, the pope announced on March 1https://t.co/0Br8TPNQvl
— Christian Family (@FChretienne) March 1, 2023
We do not touch current contracts of course, the rule will only apply at the time of renewal of the lease. The text, signed on February 13 by the prefect of the Secretariat for the Economy Maximino Caballero Ledo, was made public by the official Vatican media on Wednesday March 1. Those who would be tempted to negotiate an exception are warned, it is the sovereign pontiff himself who will validate or not. The good news is that Rome remains one of the cheapest European capitals in terms of real estate.
Real estate, a sector where there is still fat
If the Church wants to continue to help the poorest, it must imperatively tighten its belt. 33 million euros of deficit planned on the 2022 budget: the finances of the Vatican are in the red, as red as the cassock of the cardinals.
Bad luck, besides, it’s always on them that it falls. Two years ago, they already had to take a 10% pay cut without flinching. To increase revenue, real estate remains “the” sector where there is still some fat. From London to Geneva via Paris, the Holy See owns approximately 5,000 buildings or properties. Every year he sells a few.
This unprecedented and symbolic measure on rents allows it both to put an end to certain privileges, to clientelism, and to contribute to bailing out the coffers. The pope (who himself made the choice to live in a modest 70 m2), advocates a form of exemplarity in terms of lifestyle and economy. In 2014, a controversy over the size of the apartment of the former Secretary of State of the Holy See, Cardinal Tarcisio Bertone, as well as the cost of renovating his accommodation, had particularly angered him.
The Vatican is not a business
Putting the finances in order is also one of François’ battles, which he has been leading since the first day of his election, March 13, 2013 – almost ten years. Following a series of huge scandals at the Vatican bank, he created a new Ministry of Finance, brought in an external auditor. Last year he reduced the budget of certain departments by 20 or 30%, imposed a new policy of “ethical” and “sustainable” investments, which provides for the closing of accounts abroad.
Its priority is also to strengthen the transparency of the Church’s accounts. Officially, of course, everyone welcomes it.