Increase in prenuptial agreements and (living) wills, decline in transfers continues

Notaries were primarily busy with their family law practices in the third quarter. Compared to the third quarter of last year, they executed 18 percent more prenuptial agreements, 7 percent more living wills, and over 2 percent more wills. However, the number of real estate transfers, as expected, was disappointing.

The housing market is stagnating, and notaries have noticed this in recent months. In the third quarter, notaries executed nearly 92,000 real estate deeds. That's over 6,500 fewer than in the same quarter last year, but still 1,700 more than in the second quarter of 2021. In total, the Royal Netherlands Bank for Enterprises (KNB) registered 466,620 deeds in the past three months, over 4,500 more than in the same period last year. However, compared to the second quarter of this year, the total number of deeds decreased by almost 2.5 percent.

Transfers continue to decline
Notaries expect the decline in the number of transfer deeds to continue for some time. The monthly survey by the Royal Dutch Bank (KNB) shows that for almost 45 percent of respondents, the number of new transfer files has decreased. For over 16 percent, the decrease is less than 10 percent compared to the previous month, for 20 percent, the decrease is 10 to 25 percent, and 6 percent even report a decrease of between 25 and 50 percent.

Mortgages still in demand
Demand for new mortgages remains high. Notaries executed 118,566 mortgage deeds in the third quarter, over 5,000 more than the previous quarter and 3,600 more than the same quarter last year. Substantial equity and low interest rates make it attractive to take out an additional mortgage for renovations or the purchase of a second (holiday) home.

Number of new private limited companies is decreasing
After months of rising numbers, the number of new private limited companies (BVs) last month, for the first time, fell short of the previous year's. Compared to September last year, the decline was limited to 1.5 percent, but compared to August 2021, the number of new BVs in September decreased by almost 30 percent. Nevertheless, the outlook is not bad. For almost 30 percent of respondents, the number of new cases in their corporate practice increased; for over 12 percent, it increased by less than 10 percent, and for 15 percent of respondents, the increase is between 10 and 25 percent. However, 17 percent of respondents reported a decrease in the number of new cases. For 9 percent, the decrease was limited to less than 10 percent, and for over 5 percent, the decrease was between 10 and 25 percent.

Family practice continues to grow
According to respondents, the number of family practice records continues to rise. Twenty-five percent report an increase in new cases, while 9 percent report a decrease. While the decrease is generally limited to less than 10 percent, the increase is quite substantial. Over 8 percent report an increase of up to 10 percent, and over 15 percent report an increase of more than 15 percent.