
The Rental Index Tracker
Commercial leases in France are adjusted annually according to a published construction index called "Index du Cout de la Construction" or "ICC". This index reflects the moving average costs of a basket of materials used in construction. Therefore, the index reflects the average "replacement cost" of buildings in France. The index is calculated on (QuarterN,YearN) over (QuarterN,YearN+1). i.e. A lease referenced to Q1 2007 will calculate to Q1 2008 and then to Q1 2009, and so on...