Insee
Informations Rapides · 23 March 2022 · n° 70
Informations rapidesIn Q4 2021, the Commercial Rent Index rose by 2.42% over a year Commercial Rent Index - fourth quarter 2021

In Q4 2021, the Commercial Rent Index stood at 118.59. Over a year, it rose by 2.42% (after +3.46% in the previous quarter).

Informations rapides
No 70
Paru le :Paru le23/03/2022
Warning: a change in the formula for calculating the Commercial Rent Index

From the fourth quarter 2021 onwards, in accordance with Decree n°2022-357 of 14 March 2022 amending Decree n°2008-1139 of 4 November 2008 pertaining to the national quaterly Commercial Rent Index (CRI), the retail trade turnover index is no longer used as an input in the computation of the Commercial Rent Index. The annual percentage change of the CRI is now based only on the annual percentage change of an average of the present and past values of the consumer price index, with a weight of 0.75, and the annual percentage change of an average of present and past values of the Cost of Construction Index, with a weight of 0.25.

 

The intermediate calculations are performed without rounding. The Commercial Rent Index and its changes are reported with two decimal places.

In Q4 2021, the Commercial Rent Index stood at 118.59. Over a year, it rose by 2.42% (after +3.46% in the previous quarter).

Commercial Rent Index

Reference 100 in Q1 2008
Commercial Rent Index (Reference 100 in Q1 2008)
Index Percentage change over a one-year period (Q/Q-4) %
Q1 2017 109.46 0.98
Q2 2017 110.00 1.48
Q3 2017 110.78 2.04
Q4 2017 111.33 2.22
Q1 2018 111.87 2.20
Q2 2018 112.59 2.35
Q3 2018 113.45 2.41
Q4 2018 114.06 2.45
Q1 2019 114.64 2.48
Q2 2019 115.21 2.33
Q3 2019 115.60 1.90
Q4 2019 116.16 1.84
Q1 2020 116.23 1.39
Q2 2020 115.42 0.18
Q3 2020 115.70 0.09
Q4 2020 115.79 -0.32
Q1 2021 116.73 0.43
Q2 2021 118.41 2.59
Q3 2021 119.70 3.46
Q4 2021 118.59 2.42
  • Note : series are available on www.insee.fr
  • Source : INSEE

Commercial Rent Index

Commercial Rent Index
Commercial Rent Index
2021-Q4 2.42
2021-Q3 3.46
2021-Q2 2.59
2021-Q1 0.43
2020-Q4 -0.32
2020-Q3 0.09
2020-Q2 0.18
2020-Q1 1.39
2019-Q4 1.84
2019-Q3 1.9
2019-Q2 2.33
2019-Q1 2.48
2018-Q4 2.45
2018-Q3 2.41
2018-Q2 2.35
2018-Q1 2.2
2017-Q4 2.22
2017-Q3 2.04
2017-Q2 1.48
2017-Q1 0.98
2016-Q4 0.46
2016-Q3 0.17
2016-Q2 0.02
2016-Q1 0.07
2015-Q4 -0.06
2015-Q3 -0.13
2015-Q2 -0.11
2015-Q1 -0.17
2014-Q4 0.01
2014-Q3 0.05
2014-Q2 0.0
2014-Q1 -0.03

Commercial Rent Index

  • Source: INSEE

For more information

The Act on modernization of the economy No. 2008-776, of 4 August 2008 created the quarterly Commercial Rent Index (CRI). Decree No. 2022-357 of 14 March 2022 amending Decree No. 2008-1139 of 4 November 2008 specified the formula for calculating and publishing the index. The CRI is published at the end of the third month following the quarter under review.

Up to and including the third quarter 2021, the quarterly Commercial Rent Index (CRI) consists of a weighted sum of indices representing the variation in consumer prices, the prices of new construction and the turnover of retail trade.

The index for consumer price changes is the monthly consumer price index for consumption excluding tobacco and rents (CPI), computed for all households residing in the mainland and the overseas departments, published by INSEE. The calculation of the quarterly commercial rents index is based on the average of this index over the last twelve months .

The index for the price change of new construction is the quarterly “Cost of Construction Index” (CCI) published by INSEE. The calculation of the quarterly Commercial Rent Index is based upon the average of this index over four consecutive quarters.

The index for the change in the turnover of retail trade is the monthly retail trade turnover index re, adjusted for seasonal and working days (RTI) published by the INSEE. The calculation of the quarterly Commercial Rent Index is based on the average of this index over the last twelve consecutive months. Since the first quarter of 2016, INSEE has improved the method of computation of the turnover retail trade index, using exhaustive information instead of a sample of firms. In order to continue the computation of the CRI without any break due to this change in the method, in conformity with the application decree, a chain-linking coefficient was applied to the new monthly series of turnover retail trade index. The connection point is December 2015, the coefficient value is 0.945 (value of December 2015 of the old series/ value of December 2015 of the new series on 2 June 2016).

The three components used in the calculation of the quarterly commercial rent index are weighted according to the following formula:

Quarterly Commercial Rent Index = 50% mCPI + 25% mCCI + 25% mRTI

 

From the date of fourth quarter 2021 onwards, the index of turnover in retail trade (RTI) is no longer used in the formula, the Commercial Rent Index is based only on the CPI (mCPI) and CCI (mCCI), with respective weights 0.75 and 0.25.

 

The quarterly Commercial Rent Index is not revised.

 

Uses

In accordance with 2014-626 Act of 18 June 2014 (article 9), which amends section L145-34 of the Commercial Code, two indices may be used for the purpose of escalating rents for Service and Trade activities:

- The Commercial rent index for trade and craft activities;

- The Tertiary activities rent index for activities other than trade and craft activities.

Next issue: end of June 2022

Documentation

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