More (living) wills passed in the second quarter

In the second quarter of this year, notaries executed over 488,500 deeds. That's 9,200 more (almost 2 percent) than in the same quarter last year. Compared to the first quarter of this year, the number of deeds increased by almost 21,000, a 4.5 percent increase. The most significant increases were mortgage deeds and (living) wills. The number of transfer deeds and deeds of incorporation of private limited companies decreased. The total number of deeds by the middle of this calendar year is more than 1.5 percent lower than a year earlier.

The stagnant housing market is reflected in the number of transfer deeds executed by notaries in the past six months. In both the first (-20 percent) and second quarters (-9 percent), these numbers were lower than in the corresponding quarters last year. The number of mortgage deeds, on the other hand, after a 6 percent decline in the first quarter, rose again the following quarter, by over 11 percent. This increase is expected to level off, however, as mortgage interest rates rise sharply and refinancers are also refraining from remortgaging.

Mainly a decline in Groningen, Limburg and Zeeland
Notaries' expectations for the near future vary. According to the Royal Dutch Association of Civil-Law Notaries' monthly survey of firm workloads, a third report a decrease in the number of new cases in real estate practice. Approximately 20 percent report an increase, and slightly less than half see their workload remain stable. Of the participating firms in Groningen, Limburg, and Zeeland, more than half see a decrease in new cases. Of the participating firms in Friesland and Gelderland, slightly less than half see a decrease, but an almost equal number of firms in those provinces report an increase. Firms in Flevoland, North Holland, and Overijssel are the most optimistic, with nearly 50 percent seeing an increase in new cases.

Family practice flourishes
Notaries with a family practice are busier than ever. The number of wills and living wills they executed in the past three months is significantly higher, at almost 7 and 18 percent respectively, than in the second quarter of 2021. Compared to the first quarter of this year, this increase is less pronounced. The number of wills increased by 3.5 percent, while the number of living wills remained virtually unchanged. Cohabitation agreements are finalized. This number decreased by over 8 percent compared to last year. Family practice will continue to thrive in the coming period. Over 40 percent of participating firms report an increase in the number of new cases. For just over 50 percent, the number of new cases remains the same, and 5 percent report a decrease. Gelderland, Groningen, and South Holland are the most positive, and the number of new cases in Limburg also lags behind the other provinces in family practice. Almost 40 percent of participating firms in that province reported a decrease.

Corporate law practice in a minor key
In corporate law practice, the upward trend in the number of deeds of incorporation for private limited companies is stagnating. While these figures for the first quarters of 2022 and 2021 were still relatively comparable, in the second quarter, the number decreased significantly compared to last year (-13 percent). Share deliveries also showed a decline, albeit less sharply (-3 percent). The expectations of firms that participated in the survey are more positive. For half of them, the backlog has remained the same, and for a third, it has even increased. Firms in Friesland and Groningen, in particular, report a relatively larger increase in new cases in their corporate practice. Limburg has the highest number of firms reporting a decrease: over 35 percent.