Jasper’s response to COVID-19
The Jasper team, like so many companies globally, are doing what we can to reduce the impact of COVID-19 on our community, as a result, our entire team has been working from home since the 23rd of March. The good news is that Jasper is built to do things digitally. Our platform, how we communicate and our internal tools are all cloud-based, and therefore the transition to remote work has been straight forward. So while the location of our people has changed, we remain fully operational and available to help our investors grow their wealth through commercial real estate investment.
Investment in commercial real estate has fluctuated during previous global crises. Still, the overarching trend over time has seen increasing allocations to the sector, and we see no reason for this to change over the medium to long term. Real estate will continue to be a leading asset class for building long-term, generational wealth. Particularly in NZ, a country with a stable political system, geographic isolation, and substantial natural food resources.
However, commercial real estate is by no means impervious to this current economic shock. The fundamentals in a variety of industries have and will continue to be affected in different ways, some which are immediately clear, some which are yet to materialise. Landlords and tenants across all industries will have to proactively work together to consider current and future impacts on their commercial relationship.
We adopt a long term and conservative mentality when sourcing assets for our Investors. As a result we have put on hold some exciting offers we expected to bring to market this month. We will watch the market patiently for key indicators and opportunities, and position ourselves and our investors to take advantage in the recovery. This will pass and the market will re-emerge, we believe relatively quickly compared to other crises. Once it does, we look forward to introducing new and resilient investment opportunities to the platform.
Most important right now, however, is the need to stay safe and support friends and family through this challenging time. We, as Kiwis, have always been regarded globally as a resilient nation and that will undoubtedly shine through in the weeks ahead. The Jasper team is always available for a call if you’d like to discuss a property, your investments, or just to have a friendly chat in this difficult time.