Will the future reduction in notary fees have an impact on prices?

For prospective home buyers, this is good news. From January 1, 2023, they will benefit from a reduction in notary fees which will amount to approximately 1,100 euros for the purchase of a property for 232,500 euros. This reduction results from a reform of the notarial sector by the Minister of Justice, Vincent Van Quickenborne, disclosed on Wednesday.

Under the new system, the administrative costs for the purchase of a family home will be set on a flat-rate basis at 750 euros for the act of purchase and 550 euros for the act of credit. This measure is valid for all real estate deeds and replaces the costs which in total could sometimes climb up to 2,000 euros. In addition, fees will be reduced for the purchase of family housing. For the act of credit, a fixed reduction of 20% of the fees is applicable on all the tranches, underlines a press release from the Minister of Justice. It only applies if it is the sole property of the buyer (who must also live there).

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