Purpose: The valuation tasks for manual valuation are time-demanding and cognitively challenging. Behaviourists have observed that valuation accuracy and variations are mainly caused by human adaptive approaches called cognitive shortcuts. Of particular interest for valuation tasks is the susceptibility of decision makers to anchoring heuristics. The anchoring and adjustment approach is a mental shortcut which involves deliberate and conscious adjustment of values, known to be wrong but close to a right answer. Various studies have shown that valuers are prone to anchoring to asking price, previous estimate and other reference points. The incidence of valuation bias in the property market and the world is of concern. Few studies have used the decision-support tool to reduce property appraisal bias. The research purpose is therefore to determine the efficacy of the decision-support tool in reducing and eliminating property appraisal bias in the South African property market. Design/methodology/approach: Similar to previous behavioural studies, a controlled experimental study design was used. The experimental design is based on a previous German study that uses a self-written valuation software in a MS Excel package, adapted to the South African market. The software comprises two versions, a standard software and a decision-support software, which were administered to separate groups of novices and experts. Descriptive statistics and non-parametric testing were used to interpret the results. Findings: Consistent with other research on valuation accuracy and variations, the findings show that the valuation outcomes do not align with 'margin of errors' concept. Despite the results not being as robust as one would have expected, the study revealed that test subjects were susceptible to the anchoring effects and that use of a decision-support tool can help to reduce valuation variations. Practical implications: This study heightened the need to counter the effect of bias in valuation. The high variance among the experts group is of concern and should be addressed. Other forms of cognitive shortcuts used by valuers should be incorporated into the decision-support tool, and a similar test run for different valuation settings. The behavioural contentions should be discussed and presented to novices and experts.

The need for supportive non-conventional housing environments that encourage cohesion, conflict resolution, independence, self-disclosure, organisation, residential influence and physical comfort, amongst elderly residents is becoming critical, yet the evaluation of existing elderly housing settings is often overlooked. The aim of the research was to identify residents' perceptions of the social climate in shared housing settings, a non-conventional housing initiative being undertaken by non-profit organisations for the low-income elderly population group in Cape Town, South Africa. A case research study involved 45 participants living in 7 of the 13 shared houses affiliated to the Neighbourhood Old Age Homes (NOAH) organization. Using the Sheltered Care Environmental Scale (SCES), participants answered 63 'Yes / No' questions aimed at revealing their opinions of the social climate in the shared homes. The initial findings detected overall satisfaction amongst most residents regarding interfacing social dynamics, suggesting high levels of perceived independence, self-disclosure and residential influence. Mixed results were generally observed regarding interfacing social dynamics related to levels of physical comfort, organization in the homes, cohesion and conflict resolution. The findings suggest that the shared housing concept advanced by the Neighbourhood Old Age Homes (NOAH) organisation has been able to successfully promote a sense of cohesion, conflict resolution, independence, self-disclosure, organisation, residential influence and physical comfort amongst residents, thereby playing a vital role in residents' experience of residential satisfaction in these homes.

Global warming is becoming a topic on everyone's mind as the world turns towards a sustainable way of living. In the property industry, people are looking for ways to encourage investors to move towards sustainable development. This requires some convincing as the increased costs of green buildings need to be justified, specifically looking at the financial returns for the investor. Green buildings are said to increase productivity of its occupants but the difficulty in quantitatively measuring productivity has proven to be a stumbling block in this process. Various green buildings were identified, and their occupants interviewed to provide some answers on the impact of green certification in office buildings, specifically in Cape Town. Semi-structured interviews were conducted with occupants who worked in a building both prior to, as well as during the implementation of green initiatives. Difficulties in this measurement were noted and discussed throughout. It was decided as a result of the available responses, and the guidance from the literature, that perceived productivity could be used as an acceptable form of productivity. It was therefore also necessary to include a section in the interview on personal stresses that the respondent may be experiencing that might also impact productivity. Findings showed that whilst respondents were positive about the green environment and had seen an increase in productivity, a few were unsure about whether these were linked, especially when other factors such as change in management had occurred. The overall feeling of respondents was better and healthier in the greener building, and all reported favourably on most green initiatives. Future research on measurement tools can be investigated with a larger sample being interviewed. It will also be helpful to have further information into the respondents' backgrounds, position in the company and general feeling within the organization that may have an effect on productivity. The more knowledge the respondents have on the office, the larger the collection of reliable data. A greater range of green-starred buildings should be included as well as more than one respondent per building, to increase the sample for comparison.

The phenomenon of gentrification is a controversial and heated issue globally, but there is nowhere more so than in South Africa. The country's legacy of Apartheid has meant that those most vulnerable to displacement are typically previously disadvantaged citizens and a lack of government intervention in the gentrification process is often compared by the media to the forced removals and neighbourhood segregation seen under Apartheid. Today, governments and municipalities are saddled with the task of trying to regenerate areas and inspire investment, whilst simultaneously protecting previously disadvantaged communities and responding to pressures for low-income housing options in city neighbourhoods. The aim of this thesis is to explore the role of street art in both gentrification and urban regeneration in Cape Town's Woodstock and Salt River areas in order to ascertain how it effects existing community members, business owners and in-movers with the hope that this would assist in more informed decisions around urban regeneration. A mixed-method research methodology was applied, consisting of 161 street surveys with passerbys at four different street art sites, 108 surveys with business owners and property professionals, and 11 semi-structured interviews with informed people such as artists, tour guides, city councillors and organisation leaders. The findings revealed an overall positive sentiment towards street art by various participating groups (including long-standing community members and business owners) and a perception that it plays a powerful positive role in regenerating areas. However, it also revealed that cultural and historical representation in street art holds importance to long-standing communities and that government intervention and strategies should be explored to curb any gentrifying effect it may have.

Residential property prices in the Western Cape, South Africa, have experienced the highest increase, reaching close to 10% annual increase, in comparison to the rest of the country over the last decade (Lightstone, 2019). Lemanski (2007) further elaborates that residential property prices in Cape Town, in the Northern and Southern Suburbs, have increased by close to 30% from 1980s-late 2000s. This results from the interaction between supply and demand. The demand for property is a function of: need, preference, availability and affordability (Lancaster, 1966). The preference for a particular residential property is in turn determined by internal factors, at a property level, and external factors, at the neighbourhood level. The influence of internal factors such as: land extent, building area, location, number of bedrooms, kitchen and bathroom amongst others, on property prices is well-known. However, the influence of external-locational factors, on residential property prices in the context of South Africa, has been subject of little research. It is argued that, for those who can afford, there is a preference for residential houses which are close to areas that are: well-established, high quality, well controlled, modern hubs for economic activities and central to amenities (Scatigna, Szemere, & Tsatsaronis, 2014; Turok, 2001; Lemanski, 2007; Kotze & Donaldson, 1998; Can 1998). These well-established neighbourhoods are the outcome of past public and private investment, and such neighbourhoods are found in the Northern and Southern Suburbs (Turok, 2001; Lemanski, 2007). Features associated with location, such as the number of offices/business properties, shopping centres, educational institutions, places of worship, medical institutions and residential vacant land, are considered to have an influence on residential house prices and hence contribute to high increases in value in the Northern and Southern Suburbs (Scatigna, Szemere, & Tsatsaronis, 2014; Turok, 2001; Lemanski, 2007; Kotze & Donaldson, 1998; Bardhan, Sarkar, & Kumar, 2016). The findings indicate that the highest concentration of the above-mentioned factors, with the exception of the number of residential vacant land, are found in the Northern and Southern Suburbs. For the Northern suburb, the external factors, the number of: places of worship, business/offices properties and residential vacant land, are recorded to have an influence on the value of residential properties. For the Southern Suburb, the external factors, the number of: places of worship, business/offices properties, shopping centres and medical institutions, are recorded to have an in fluence on the value of residential properties. It is inferred that external factors have an impact on residential property prices and hence have contributed to high increases in value in the Northern and Southern Suburbs. Lastly, it was observed that the Northern and Southern Suburbs are influenced by different combinations of external factors.

Purpose: This research investigated the constraints to investment in residential rental property in South Africa. This research does not attempt to value or place these constraints in any hierarchical order; rather, it identifies the constraints in the South African context for research in the future. Design: A literature review was conducted, and constraints to residential rental property were identified. A semi-structured interview was then designed, and a field study was launched, interviewing key residential investment property market stakeholders regarding their views on the constraints to investment in residential rental property in South Africa. Quantitative data was used to corroborate the findings of the interviews, and pattern analysis was the technique drawn on to explain the findings. Findings: Participants identified six major constraints to investment in residential rental property in South Africa. These include financial liquidity or funding; property liquidity; management skills; management costs; the lack of investment market information; and legal constraints. Practical Implications: The results of this research will enable further research into the specific constraints mentioned above, in order to assess if there are ways to minimise those constraints going forward.

Housing unaffordability has become a common phenomenon around the globe. The rate of demand for affordable housing around inner cities has seen a rise over the past couple of decades, yet the supply has not been able to keep up and has fallen far behind. In South Africa, historically, the apartheid regulations and practices forcefully removed families of colour from inner-city areas. The current state-led housing programmes in South Africa have continued to perpetuate these apartheid policies through continuing to provide housing on the periphery of the towns and cities. The private sector, incentivised by the State's inner-city urban regeneration programmes, has inevitably accelerated spatial segregation through systematic gentrification. As a result, inner cities have become unaffordable, further distancing the previously disadvantaged from economic and social opportunities and financial participation that are concentrated within inner-city areas. There is therefore a need to consider housing inclusivity in development processes and policies and more so, practical approaches and mechanisms on how it can be implemented with inner-city developments. Concurrently, the concept of affordability needs to be explored to understand what makes inner-city housing unaffordable. This research aimed to understand the underlying causes of unaffordability in the inner cities of South Africa, particularly in Cape Town, and the roles of the public and private sectors regarding the problems and solutions. The research intended to find appropriate responses and solutions to affordable inner-city housing provision, by examination of the policies and cost drivers that affect the development process and how their negative impact can be mitigated. This study purported to aid in finding a resolve for apartheid spatial planning, whilst building a broad understanding to the key issues around gentrification, inclusivity, and the ‘right to the city' in the South African context. To identify alternative development approaches for more inclusive cities, the study made use of in-depth literature analysis and case study research which includes qualitative knowledge gained from interviews with the various role players in the housing development process. The study employed a purposive and snowball sampling method to acquire eleven participants that were interviewed. The research ascertained that the lack of policy alignment between the national government and the City of Cape Town and unrefined approval processes are aiding in increasing development costs, which are then transferred to the end-user. The research further determined that the lack of well-located affordable land possess a great challenge, yet there are large tracts of state-owned land in well located areas affordable housing development could occupy. Whilst the rest of the world moves forward in adopting alternative building technology that has advanced the industry, South Africa remains on the backfoot, though reluctancy to integrate these new methods into the traditional brick and mortar way of developments. A key recommendation is for the public sector to timeously release public-owned inner-city land that is well-located for affordable housing purposes, whilst also enabling a quicker development approval process for affordable housing projects. This amongst other interventions will serve as incentive to developers in the era of implementing the inclusionary housing policy which has stirred much controversy in its wake.

Intellectual Property today as internationally recognised covers patents, industrial designs, copyright, trademarks, know-how and confidential information. 1 The current available modes for protecting Intellectual Property (IP) in the Republic of South Africa (RSA) are Patents, Trade Secrets, Copyrights, Trademarks and Industrial Design. Common law remedies are also available to parties whose rights have been infringed. The legislations governing these Intellectual Property (IP) regimes were passed at different periods, some before South Africa became a republic in 1963 and others thereafter, while others were passed after the abolition of apartheid in 1990. For those legislations passed before the Trade Related Aspects of Intellectual Prope1iy Rights (TRIPs) in 1994, the RSA had to amend or repeal and enact laws which are TRIPs compatible. However, an area of IP for Indigenous people, also known as Traditional Knowledge (TK), has not been adequately protected due to complexities which cannot be accommodated by an international IP regime. This has led to poor or inadequate commercialisation of TK. TK is also not provided for by TRIPs, thus relegating it further. The scope of this paper is limited to commercialisation of TK. However, it must be appreciated that _ commercialisation cannot take place in a vacuum. Thus protection of TK is a prerequisite to its commercialisation.

This research seeks to provide an understanding of how the nature of the property market affects the valuation practice and how valuers manage such conditions during the valuation process. Specifically, the study investigates challenges that uncertain conditions of the Lagos property market pose to valuers and how valuers navigate a path through these challenges. This is with a view to providing a theoretical explanation for valuers' behaviour in an uncertain environment. The rationale for the study is that valuers' behaviour is influenced by the nature of the environment where they operate; however, there is yet to be a clear understanding of how valuers manage the conditions of property markets fraught with high uncertainty. The study pursues five objectives, namely, an examination of the nature of the Lagos property market as it relates to property valuation, an assessment of the nature of challenges valuers are exposed to within the Lagos property market and an investigation of how valuers manage the challenges of the uncertain nature of the Lagos property market. Others are an analysis of the existing real estate education in Nigeria to establish how it prepares valuers for the nature of the market they operate and a proposal of a framework for a better understanding of valuers' behaviour in an uncertain environment. Two working propositions were set for this study in relation to these objectives. Firstly, it was proposed that the Lagos property market exhibits a high level of uncertainty which poses challenges to property valuation practice. Secondly, it was proposed that in dealing with the challenges of the market, valuers would put up certain coping strategies, which can be understood through their cost minimisation behaviour. The study employs an exploratory sequential mixed methods research approach where qualitative and quantitative data were collected sequentially from multiple sources. Specifically, qualitative data were extracted from expert valuers using semi-structured interviews, while quantitative data were extracted from professional valuers and final-year students of tertiary institutions using questionnaires. Interview data were analysed using thematic analysis, while data extracted through questionnaires were analysed using descriptive and inferential statistic tools. Furthermore, this research explored the theoretical lens of Transaction Cost Economy (TCE) to explore the understanding of valuers' behaviour in an uncertain market. The study finds that the Lagos property market is characterised by features that directly affect the valuation practice. The market characteristics include the lack of a formal database of market transactions, weak institutions/corrupt property rights registration system, the dominance of valuation for mortgage purposes, and an improved standardisation and internationalisation of professional services. The shows that the nature of the market presents uncertain conditions and poses peculiar challenges to valuers. The study also finds that valuers put up various strategies to manage the challenges. The study established that while some of the identified valuers' coping strategies are logical and expected, others seem counterintuitive and unprofessional. However, the coping strategies are contextual in nature, as they are based on valuers' understanding of the nature of the market. The study also finds that gaps exist between academic training and the practice of valuation in Nigeria. That is, valuers' academic training does not reflect the actual experience of valuers in the market. Thus, the results partially confirm the first proposition and substantially confirm the second proposition. Overall, the study concludes that the uncertain nature of the Lagos property market opens valuers to several forms of coping strategies influenced by their understanding of the market environment and academic training. Assessing valuers' behaviour through the lens of TCE, the study demonstrates that while some valuers' coping strategies reduce valuation uncertainty, others increase the uncertainty and bias in valuation. It is also concluded that the provisions of TCE more accurately reflect the actual experience of valuers in a volatile and uncertain market. This study makes a number of contributions to knowledge. Specifically, it contributes to theory by expanding on the principles of TCE and applying them to the property market and valuation practice. It contributes to policy development by offering insights that can help develop improved ethical and professional standards. Lastly, the study contributes to the empirical literature by providing a deeper understanding of how valuers utilise heuristics in their decision-making processes.

Studies conducted in other countries shows that economic cycles and commercial property cycles exist, and that a relationship exit between the two cycles. Few research points to the cyclicality of both cycles to have an impact on property valuations. The aim of this study was therefore to establish whether the Namibian economy and the Windhoek commercial property market are cyclical, and if a relationship exist between the two. The study further aimed at establishing whether the cyclicality of both the economy and the commercial property market have an impact on the valuation of commercial properties in the Namibian context. The three research objectives allowed the research to identify the variables required to establish both economic and commercial property cycles, and the possible challenges faced by valuers using the income approach to value commercial properties during peaks and troughs of these cycles. The mixed-use approach was employed using a literature review to identify the variables required to establish both cycles followed by a secondary analysis. The research made use a questionnaire to gather data on challenges faced by valuers when valuing commercial properties during the different economic and commercial property markets environments. The research found that both economic and commercial property cycles do exist and that they are procyclical and countercyclical under certain variables. A countercyclical relationship exists between GDP and the commercial property vacancy rates. A countercyclical relationship exists between inflation and retail vacancy rates and office cap-rates. A procyclical relationship exist between interest rates and the retail vacancy rates and office cap-rates. The results revealed that during or near a peak of both economic and commercial property cycles, data is easily available and accessible making it easier to value commercial properties using the income approach. However, data shows that during or near economic and commercial property cycle troughs, market data is rare and unreliable making it difficult to value commercial properties.