Notaries are again passing significantly fewer real estate deeds

Notaries executed significantly fewer deeds in the second quarter of 2023 than in the same quarter last year. In total, this amounts to over 425,000 deeds, over 62,500 fewer than in 2023. This represents a decrease of 12.8 percent. However, this is 17,000 (4.2 percent) more than in the first quarter of this year.

The number of transfer and mortgage deeds, in particular, was again disappointing. In total, over 70,000 fewer mortgage and transfer deeds were executed, or 34 percent fewer, than in the first quarter of 2022. This was offset by an 11.7 percent increase in deeds in family law practice. The number of deeds in corporate law practice remained roughly the same.

Number of mortgages halved
The decline in the number of deeds in the second quarter is mainly due to a sharp drop in demand for mortgage deeds. This fell by 45 percent, from almost 127,000 to over 69,000. Compared to the first quarter of this year, however, the number of mortgage deeds increased by almost 4,500 (6.9 percent). The number of transfer deeds also decreased compared to last year, but less sharply than mortgage deeds. Last quarter, notaries executed almost 69,000 transfer deeds. This is almost 13,500 fewer (-16.3 percent) than a year ago, but almost 4,500 (6.9 percent) more than in the first quarter of 2023.

Demand for (living) wills remains high
In family law, demand for wills and living wills remains high. For months now, the figures have been higher than in the corresponding months of the previous year. Last quarter, the number of wills increased by 8,000 to 88,540, an increase of almost 10 percent. The number of living wills rose by 9,000 to 56,000, an increase of over 19 percent.

Corporate law practice stable
The number of deeds issued in corporate law practice remains relatively stable. In total, the number of deeds issued in this practice increased by almost 2 percent, from 36,900 to 37,575.

Trend continues
Civil-law notaries don't see the current trend in deed volumes changing any time soon. A survey among civil-law notaries shows that the number of deeds in real estate law continues to decline. For over 45 percent of respondents, the number of new real estate cases has decreased. For 13 percent, the decrease is limited to 10 percent, but for 20 percent, it is between 10 and 25 percent. Over 12 percent report a decrease of between 25 and 50 percent. In family law, almost two-thirds of respondents report the same number of new cases as in recent times. For over 25 percent, the number of new cases has increased, although this remains limited. 4.6 percent report an increase of less than 10 percent, and 4 percent see that number increase by between 10 and 25 percent. The outlook is even better in corporate law. A third of respondents say the number of new cases has increased. At 15 percent the increase is less than 10 percent, at 17 percent the increase is between 10 and 25 percent.