eu calls for greater competition in conveyancing services market
30 January 2008

Brussels -  The European Commission has published a study calling for greater competition in the 17 bln eur conveyancing services market. The commission said the independent study finds that consumers have greater choice and are on average paying less for the legal services associated with house and land sales under deregulated systems, with no loss in quality.

It said the market, worth 17 bln eur per year, could reap huge savings with efficiency improvements of even a few percent.

The commission added it is estimated that property turnover in the EU's 27 member states for 2005 was almost 1,800 bln eur, or 16 pct of EU GDP.

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