Number of deeds rises again after dip in October

The October dip in the number of deeds executed by notaries appears to be over. In November, the total number of deeds rose to over 165,000, approximately 12.5 percent more than in October. Compared to last November, this number remained roughly the same.

The number of (living) wills, in particular, increased sharply compared to the previous month, but the number of other types of deeds also rose. The only type of deed that lagged behind was the transfer of real estate.

Mortgages popular
While the number of transfer deeds was slightly higher than last month (2 percent), compared to November of last year, it decreased by about 10 percent to 29,000. In November 2020, notaries executed 32,000 transfer deeds. The shortage of homes for sale is leading to a sharp increase in the number of second mortgages and refinancing of existing properties, mostly for renovations. In November, 37,000 mortgage deeds were signed, over 3,000 more than in the same month last year (up 9.6 percent) and 2,400 more than the previous month (up 7 percent).

Number of real estate cases is decreasing
The Royal Dutch Bank's monthly survey shows that notaries expect the number of new real estate transactions to decline. This will not be due to the number of mortgages, as the number of applications for new mortgages remains high, according to the Mortgage Data Network (HDN).

High demand for (living) wills
Traditionally, many people have a will or living will drawn up towards the end of the year. This year is no different, but the increase compared to last month is very sharp. In total, notaries executed just over 28,000 wills in November. That's over 3,800 more than in October, a 16 percent increase. The number of living wills even rose by 26 percent, from approximately 13,500 in October to 17,000 in November. These numbers also increased compared to November 2020. In November 2021, 1.5 percent more wills and over 7.5 percent more living wills were executed.

More new applications
Notaries expect the demand for (living) wills to continue for some time. Nearly 40 percent of respondents to the KNB's monthly survey indicate that the number of new requests for these deeds has increased. Seventeen percent report an increase of less than 10 percent, and for 20 percent, that number has increased by between 10 and 25 percent.

Optimism about business practices is justified
Last month, a third of respondents indicated that the number of new cases in their business practice had increased. This optimism is reflected in the number of deeds filed this month. The total number of deeds filed in this practice rose by approximately 3,500 last month to almost 14,000, a 33 percent increase compared to October. The number of new private limited companies (BVs) established, in particular, rose sharply, from approximately 5,000 in October to almost 6,900 in November. That represents a 38 percent increase. Compared to November of last year, the increase is much less dramatic. In that month, 6,700 BVs were established, 2.5 percent fewer than in November of this year.

Increase continues
This increase is expected to continue in the coming period. Forty percent of survey respondents reported an increase in the number of new cases; over 16 percent reported an increase of less than 10 percent, and 20 percent reported an increase between 10 and 25 percent.