Government Rates

A property tax levied quarterly by the Hong Kong SAR Government which is usually equivalent to approximately 5 per cent of the annual rentable.

Graduated lease

A lease that provides for specific increases or decreases in rent at definite times during the term of the lease.


A person to whom an interest in land is conveyed by deed, grant or other written instrument.


A person who transfers his or her interest in land to another by a written instrument.

Gross Floor Area

Gross Floor Area shall include all areas contained within the external walls at each floor level and the whole thickness of the external walls.

In general, mechanical and electrical services rooms, refuse chambers and rooms, water tanks, carparking floors and all lifts and staircases passing through these floors shall be excluded from the Gross Floor Area calculation.