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Article 63 of the Act of 17 May 2011 on the simplification and improvement of the quality of legislation (Act 2011-525) introduced the Tertiary Sector Rent Index (ILAT). The methodology for the calculation and publication of the index and related activities are set out in Decree No. 2011-2028 of 29 December 2011. The ILAT is published at the end of the third month following the quarter under review.
The tertiary industry rent index (ILAT) is calculated quarterly and consists of a weighted sum of indices representing the consumer price level, new construction prices and GDP.
The index representing the level of consumer prices is the Consumer Price Index for all households in metropolitan France and overseas departments (excluding tobacco and rent), published by the French National Institute of Statistics and Economic Studies (INSEE). The tertiary rent index is calculated using the twelve-month average of the index, the last month of which corresponds to the last month of the quarter in which the tertiary rent index is calculated.
The index representing the price level of new buildings is the Construction Cost Index (ICC) published by INSEE. The calculation of the tertiary industry rent index is the average of the index over four consecutive quarters, the last quarter corresponding to the quarter in which the tertiary industry rent index is calculated.
The gross domestic product (in value terms) is calculated based on the gross domestic product (GDP) at current prices, adjusted for seasonality and working days, published quarterly by INSEE. The tertiary rent index is calculated using the average of the GDP adjusted for seasonality and working days over four consecutive quarters, the last of which corresponds to the quarter in which the tertiary rent index (MoyPib) is calculated.
The first quarter 2010 values of these three components are scaled to 100 and weighted according to the following formula:
Tertiary industry rental index = 50% mIPCL + 25% mICC + 25% mPib
The tertiary industry rental index has not been revised.
use
According to the provisions of Act No. 2014-626 of June 18, 2014 (article 9), which amends article L.145-34 of the Commercial Code, the lease of business premises may be revised using two indices:
– Commercial rent index for commercial and craft activities;
– Rent index for the tertiary sector, excluding commercial and handicraft activities.
Next issue: end of September 2024.
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