For the first time since the start of the corona crisis, there has been a decrease in the number of deeds

The monthly number of deeds issued in May fell for the first time since the start of the coronavirus crisis. Notaries executed a total of nearly 143,000 deeds last month. That's over 4,000 (3 percent) fewer than in May of last year. This is due to the sharp decline in the number of real estate transfers (-10 percent) and mortgages (-8 percent).

Compared to April, the decline in real estate practice is even greater. The number of transfer deeds fell by more than 15 percent in one month, and the number of mortgages by more than 10 percent.

Busy in business practice
Just as in April, notaries were very busy last month with the incorporation of private limited companies (BVs) and foundations. The number of newly established BVs rose by 30 percent compared to May 2020, while the number of new foundations rose by almost 22 percent. The number of amendments to BVs' articles of association also increased dramatically, by almost 30 percent.

More marriages
Significantly more people are getting married at the moment than during this period last year. Notaries drew up 34 percent more prenuptial agreements than in the same month last year and 10 percent more than in April. The number of living wills also increased (4.5 percent). The upward trend in the number of cohabitation agreements seen in recent months is definitively over. While that number had already decreased significantly in April compared to March, it also decreased in May compared to May 2020 (8.5 percent).

Corona effect
The decrease in the number of coronavirus infections and deaths is reflected in the number of inheritance certificates issued by notaries last month. This number decreased by 10 percent compared to the previous month.

Decline no surprise
The decrease in the number of deeds issued in May came as no surprise. The monthly survey conducted by the Royal Dutch Association of Civil-Law Notaries (KNB) on new assignments last month already indicated that the number of deeds issued, particularly in the real estate sector, would decline. The increase in the corporate sector had also been announced. According to the most recent monthly survey, the decline in the real estate sector appears set to continue in the coming period. Thirty percent of respondents indicated this in their responses. For 15 percent of respondents, the decrease is limited to less than 10 percent, and 12 percent of them noted a decrease of between 10 and 25 percent. The number of new cases in the family practice sector has increased for a quarter of respondents, and 12 percent noted a decrease. Business practice remains busy. Over a third of respondents indicated an increase in new cases; 15 percent noted an increase of less than 10 percent, and 17 percent even noted an increase of between 10 and 25 percent.