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Centaline City Rental Index CRI
May 11, 2023
Centaline City Rental Index CRI Hong Kong
By   Centaline Property
  • City News
  • Index
  • Residential Rent
  • Rent Index
Abstract: The Centaline City Rental Index CRI mainly reflects the monthly trend of private residential rentals.

Centaline Property Research's Senior Associate Director, Ms Yeung Ming Yee, points out that the Centaline City Rental Index CRI was last seen at 111.22 points in April 2023, up 1.16% month-on-month, marking a six-month high and a return to the October 2022 level. The rise in rents continued to expand, rising by 1.16% in April, the largest increase in the last 20 months, compared to a 0.92% increase in March and a 0.76% increase in February.


The overall rental recovery was evident, with the CRI rising by a total of 2.86% for the third consecutive month.


It is believed that rents will continue to rise steadily in the short term and are expected to regain the 113-point level in the second quarter, with a 1.60% difference between the current and future CRI increases, but the rise in the CRI is likely to slow down gradually.


The CRI (Large Flats) was at 99.73 points, a five-month high and up 1.09% month-on-month. The CRI_Mass and CRI(Small and Medium) have risen for three months, by 2.92% and 2.95% respectively, while the CRI(Large) has risen for four months in a row, by 2.31%.

 Centaline City Rental Index CRI

The rental indices of the four districts rose together, driving up the overall private property rents. The CRI_Mass for Hong Kong Island was at 106.93 points, up 1.54% month-on-month and up 3.75% for the second consecutive month.


The CRI_Mass for Kowloon was at 103.30 points, up 0.90% month-on-month and up 3.46% for the third consecutive month. Urban rents in Hong Kong and Kowloon have risen significantly.


New Territories East CRI_Mass was at 133.43 points, up 1.33% month-on-month and up 1.96% for 3 months in a row.


CRI_Mass in New Territories West was at 138.61 points, up 1.87% month-on-month.


Among the more active rental constituent estates in April, Xihui Real Estate on Hong Kong Island reported a rent adjustment of $56.7 psf, Taikoo Shing reported $35.7 psf, South Horizons reported $32.5 psf and Heng Fa Chuen reported $33.1 psf.


In Kowloon, Laguna Verde reported $38.3 psf, Tseung Kwan O Centre/Tseung Kwan O Residence reported $34.3 psf, Mei Foo Sun Chuen reported $29.9 psf and Laguna City reported $28.8 psf.


In New Territories East, City One Shatin at $38.6 psf, City of Dreams at $33.9 psf and Landmark at $26.9 psf. In New Territories West, Sheung Yuet was quoted at $27.0 psf, Ying Wan Garden at $25.3 psf and Kingswood Villas at $22.7 psf.

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