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News release

17 September 2025

JLL: Tourism rebound brightens outlook for hotel assets

Rising distressed assets weigh on commercial property recovery

Economics

Value and risk advisory

Business and professional services

Authors

YL

Yvonne Liu

Public Relations Director, Hong Kong and Macao

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%

Macau casino at sunset