JLL: Tourism rebound brightens outlook for hotel assets

Macau Residential Index – % Change since the end of 2024
Sector	1H 2025
Mass Residential Rental Values	▼8.9%
High-end Residential Rental Values	▲1.9%
Mass Residential Capital Values	▼7.9%
High-end Residential Capital Values	▼9.6%

Macau Office Index – % Change since the end of 2024
Sector	1H 2025
Rental Values of overall offices	▼3.4%
Rental Values of Grade A offices	▼0.9%
Capital Values of overall offices	▼4.1%
Capital Values of Grade A offices	▼0.7%

Macau Retail Index – % Change since the end of 2024
Sector	1H 2025
Rental Values of prime street shops	▼0.3%
Capital Values of prime street shops	▼6.6%

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