The Central Plains City Rental Index (CRI) in "Hong Kong Property" has risen for four consecutive months and reached a new high, with a cumulative increase of 1.3% in the first quarter

Yang Mingyi, Senior Associate Director of the Research Department at Centaline Property, pointed out that the latest Centaline City Rental Index (CRI) for March 2026 reported 131.27 points, an increase of 0.81% month-on-month, marking a total increase of 1.66% over four consecutive months. The index has reached a historical high for two consecutive months, surpassing the previous high of 130.22 points in February this year, and has set new highs five times in the past nine months. The rental market is active, but there is a shortage of rental listings, which continues to drive rental prices upward. The CRI rose by 1.3% in the first quarter, and it is believed that it will continue to rise steadily in the second quarter. The third quarter, being the traditional peak rental season, is expected to see the index rise to around 136 points.

The Centaline City Large Estate Rental Index (CRI_Mass) reported 137.20 points, an increase of 0.53% month-on-month. The CRI (small and medium-sized units) reported 133.53 points, an increase of 0.60% month-on-month. Both CRI_Mass and CRI (small and medium-sized units) have risen for four consecutive months, with cumulative increases of 1.52% and 1.49%, respectively, both surpassing last month's highs and setting new historical highs for two consecutive months. The CRI (large units) reported 115.93 points, an increase of 2.26%, ending a two-month decline, with the index reaching a historical high, surpassing the previous high of 114.98 points in December 2025.

In the four districts, three saw rental increases while one saw a decrease. The Hong Kong Island CRI_Mass reported 127.01 points, an increase of 0.44% month-on-month, rising for three consecutive months for a total of 2.08%, with the index reaching a historical high, surpassing the previous high of 126.98 points in August 2019. The New Territories East CRI_Mass reported 158.72 points, an increase of 0.23% month-on-month, rising for three consecutive months for a total of 1.97%, with the index setting a historical high for three consecutive months, surpassing the previous high of 158.35 points in February 2026, and has set new highs six times in the past nine months. The Kowloon CRI_Mass reported 123.61 points, an increase of 1.69%, reaching the second highest historical level, just below the historical high of 123.66 points in September 2025. The New Territories West CRI_Mass reported 157.81 points, a decrease of 0.85% month-on-month, softening after three consecutive months of increases, but the index remains the seventh highest in history.

In the first quarter of 2026, among the eight major rental indices, seven increased while one decreased. The CRI rose by 1.30% quarter-on-quarter, marking five consecutive quarters of increases totaling 6.58%. The CRI_Mass rose by 1.51% in the first quarter, CRI (small and medium-sized units) rose by 1.37%, and CRI (large units) rose by 0.83%. The Hong Kong Island CRI_Mass rose by 2.08%, Kowloon CRI_Mass rose by 2.25%, New Territories East CRI_Mass rose by 1.97%, and New Territories West CRI_Mass fell by 0.52%. Among them, both CRI (large units) and New Territories East have risen for five consecutive quarters, with cumulative increases of 8.82% and 7.87%, respectively.

Among the 121 large component estates in the CRI, in the first quarter of 2026, 74 estates (or 61.2%) recorded an increase in the three-month moving average adjusted rent quarter-on-quarter, with 21 in Kowloon, 19 in New Territories East, 18 in Hong Kong Island, and 16 in New Territories West The rental increase of over 5% is entirely attributed to second-tier housing estates, with Tai Po Centre rising by 13.68%, Royal Court Mountain by 10.07%, Talent Bay by 7.17%, The Grand Yoho by 6.36%, The Imperial Court by 5.91%, Lung Mun by 5.43%, Garden of Glory by 5.29%, Bounty Bay by 5.16%, and East Harbour City by 5.15%. In contrast, the rental increases in traditional major large first-tier housing estates are significantly lower, with Taikoo Shing rising by 3.13%, Mei Foo Sun Chuen by 1.69%, Caribbean Coast by 0.87%, and Shatin First City by 0.32%.

As for the 22 luxury housing estates, in the first quarter, 12 estates (or 54.5%) recorded a quarterly rental increase. The more significant increases were seen in The Peak Garden rising by 11.69%, The Grand Panorama by 4.63%, Yang Ming Shan Chuen by 3.49%, and Mid-Levels One by 2.93%