Q1. How to check the rental index, which serves as the benchmark of the renewed rent in the second term, published by the Rates and Valuation Department (“RVD”)?
The most direct way to obtain the indexes is to check them out at the RVD website: https://www.rvd.gov.hk/doc/en/statistics/his_data_3.xls
Please note that:
- The index required to calculate the “control percentage” in determining the rent in the second term offer is (1) the private domestic rental index, (2) territory-wide, (3) by-month, and (4) of all classes.
- The rental index for the last few months is provisional figures which may be revised from time to time. The figure prevailing on the first day of the offer period should be applied.
- An online calculator for rent of second term tenancy under Part IVA of the Ordinance will be available at the RVD web page from October 2023.