published_or_final_version / Real Estate and Construction / Master / Master of Science in Construction Project Management

No description available.

No description available.

In praktyk word daar talle probleme met die rekeningkundige verantwoording van ontasbare bates ervaar. Hierdie probleme kan in vier hoof kategorieë verdeel word naamlik die identifikasie, erkenning, tydsgaping en meting van ontasbare bates (sien hoofstuk 2). Van al hierdie probleme is die metingsprobleem die grootste, m.a.w behoort ontasbare bates teen koste of teen billike waarde gemeet en in die state ingesluit te word? Daar is talle argumente teen die gebruik van beide en díe word in detail in hoofstuk 2 uiteengesit. Dit is die skrywer se mening dat billike waarde ‘n baie beter maatstaf vir sodaninge bates is, omdat koste gebaseerde maatstawwe nie altyd relevant is nie. Die grootste kritiek teen die gebruik van billike waarde -maatstawwe is egter dat dit onbetroubaar, ingewikkeld, duur en wisselvallig kan wees. Daar is ook vrese dat die openbaarmaking daarvan nadelig vir maatskappye se kompeterende voordeel kan wees.Die probleem wat rekeningkundiges in die gesig staar is dus eerstens om die kwalitatiewe eienskappe van relevantheid en betroubaarheid teen mekaar op te weeg. Indien hulle tot die gevolgtrekking kom dat relevantheid in hierdie geval belangriker is as betroubaarheid moet die kwessies van koste, ingewikkeldheid en wisselvalligheid steeds aangespreek word. Hierdie studie bestudeer benaderings en metodes om ontasbare bates teen hulle billike waarde te meet, ten einde te bepaal of sodanige metodes wel die kritiek daarteen kan oorkom, m.a.w. kan sodanige billike waarde -metodes wel ‘n betroubare, koste-effektiewe, verstaanbare en stabiele aanwysing van waarde verskaf? / Prof. D Coetsee

This thesis is primarily concerned with laws guiding valuation for expropriation and compensation in Zimbabwe. The thesis aimed to identify and close gaps in the regulatory and legislative frameworks guiding property valuation approaches when land is expropriated in line with the current international best practice. A case study approach was used based on expropriated properties whose compensation amount was approved by the Compensation Committee (CC) during the multi-currency period (2009 – 2019). Stratified random sampling was adopted, and a sample size of 146 respondents was used. The researcher collected data using a semi-structured questionnaire and literature survey. Respondents were chosen from Members of the Compensation Committee (MsCC), Designated Valuation Officers (DVOs), Private Valuers (PVs), and Former Commercial Farmers (FCFs). Documents that were reviewed include statutes, official reports, and newsletters. Questionnaires were sent to research subjects by electronic mail due to the COVID-19 pandemic induced lockdown. Two computer software packages, including Statistical Package for the Social Sciences (SPSS-26) and ATLAS.ti 8, were used for data analysis. The researcher identified gaps in the existing laws and practice of expropriation and compensation in Zimbabwe. Notable gaps include provisions which are not clear, lack of detailed guidelines, unavailability of legal provisions on property valuation for expropriated communal properties and valuation inconsistencies. Furthermore, it was noted that FCFs were dissatisfied with the expropriation and compensation process and MsCC emphasised the need to take a historical overview of the expropriation and compensation crisis in Zimbabwe. Therefore, this study contributed to knowledge and practice by proposing amendments to existing Zimbabwean statutes guiding expropriation and compensation and designed a framework for expropriation and compensation. Results of this study are expected to bring closure to lingering issues surrounding expropriation and compensation in Zimbabwe. / Thesis (PhD)--University of Pretoria, 2020. / Construction Economics / PhD / Unrestricted

Thesis presented in partial fulfilment for the degree of Master of Management (in the field of Public Sector Monitoring and Evaluation) to the Faculty of Commerce, Law, and Management, University of the Witwatersrand, March 2018 / The purpose of this research was to assess beneficiaries’ perceptions regarding improvements in their safety and residential quality of life following a housing intervention programme in Itsoseng Informal Settlement. Initially, this study interrogated literature to comprehend assessments carried out in various housing interventions. Maslow Hierarchy of Needs, Quality of Life Theory and Max- Neef Human Needs Theory of Development were the theoretical frameworks used to understand how beneficiaries perceived the upgrading programme. Improvement in their residential quality of life is realised through the possibilities that are available to satisfy their crucial needs. For this reason, this research focused on assessing the beneficiaries’ perceptions on their safety and residential quality of life following the upgrade programme. Univariate analysis, bivariate analysis, paired sample t-test statistics and one-way analysis of variance (ANOVA) was utilised to analyse the perceptions of beneficiaries following a housing upgrade. The findings showed a good level of agreement between beneficiaries regarding their safety and residential quality of life, and there were no significant difference in the perceptions of male and female beneficiaries. Open-ended questions gave insight on the need to further improve beneficiaries’ satisfaction, particularly regarding services such as electricity, clinics, schools and safety walls. Pulling all these things together, the study highlighted the need to prioritise the preferences of beneficiaries, complemented by a comprehensive improvement on safety and residential quality of life to ensure user satisfaction. Insights from the findings further highlighted that holistic improvement in housing conditions, safety, basic services, building a good sense of belonging and tenure security is crucial and goes a long way towards enhancing improvement in the residential quality of life. This study facilitated the recommendations on improvement in the design of the houses in order to satisfy human needs rather than just focusing on the physical aspects of the house. This further allowed this study to emphasise that development is about people not objects, and that it is vital to steer the development process. / XL2019

Master’s thesis deals with real estate valuation in Australia. The introductory part deals with the definition of the terms used in the work, for its better understanding. Furthermore, it discusses the development of valuation theory and its relation to economic ideas and various aspects that have influenced its development. The thesis then deals with methods of real estate valuation, their division and specific features. The thesis also discusses the current state of the real estate market on the Australian continent and outlines its possible future development. The experimental section describes the valuation of a particular property in Australia and describes which particular properties affect its cost.

The purpose was to evaluate airport impact on nearby residential property values (RPV). The hypothesis was that a relationship between noise levels, and nearby RPV could be identified and quantified. The objective was to model a relationship between housing location with respect to an airport and housing value, taking into consideration other relevant factors. Evaluation of aviation facilities impact on RPV was based on a sample of 587 single-family houses sold during 1984 and 1985. Selling price was used as the dependent variable. Independent variables included physical characteristics of a house, distance to the closest airport, accessibility of a house to the urban area, and supply and demand for houses. Distance to nearest airport was used as a surrogate for aircraft noise level. Study indicated that impact of aviation facilities on RPV could be quantified using selling price of a house as the dependent variable and distance from an airport as a primary independent variable along with physical characteristics of a house. Effect of an airport on RPV appears dependent not only on distance, but also on type of airport and selling price of a house. Davis-Monthan Airport (DM), a military airport, has a significantly greater impact than Tucson International Airport (TIA), a commercial airport. DM impact was greatest on houses priced above sample median. However, lower priced houses were effected more when the impact was expressed as a percent of selling price. DM impact area was approximately 2 miles from the airport, while TIA impact was about 1 mile from the facility. Distance from DM was the most significant variable in describing variation in selling price for houses closest to this facility. Living area of a house was also a very significant variable. Distance to TIA was not very significant in evaluating selling price variation. Living area and age of a house were generally the most significant variables describing selling price variation for TIA subset.

Licensed valuers in the State of Victoria, Australia currently appraise rural land using manual techniques. Manual techniques typically involve site visits to the property, liaison with property owners through interview, and require a valuer experienced in agricultural properties to determine a value. The use of manual techniques typically takes longer to determine a property value than for valuations performed using automated techniques, providing appropriate data are available. Manual methods of valuation can be subjective and lead to bias in valuation estimates, especially where valuers have varying levels of experience within a specific regional area. Automation may lend itself to more accurate valuation estimates by providing greater consistency between valuations. Automated techniques presently in use for valuation include artificial neural networks, expert systems, case based reasoning and multiple regression analysis. The latter technique appears mo st widely used for valuation. The research aimed to develop a conceptual rural property valuation model, and to develop and evaluate quantitative models for rural property valuation based on the variables identified in the conceptual model. The conceptual model was developed by examining peer research, Valuation Best Practice Standards, a standard in use throughout Victoria for rating valuations, and rural property valuation texts. Using data that are only available digitally and publicly, the research assessed this conceptualisation using properties from four LGAs in the Wellington and Wimmera Catchment Management Authority (CMAs) areas in Victoria. Cluster analysis was undertaken to assess if the use of sub-markets, that are determined statistically, can lead to models that are more accurate than sub-markets that have been determined using geographically defined areas. The research is divided into two phases; the 'available data phase' and the 'restricted data phase'. The 'available data phase' used publicly available digital data to build quantitative models to estimate the value of rural properties. The 'restricted data phase' used data that became available near the completion of the research. The research examined the effect of using statistically derived sub-markets as opposed to geographically derived ones for property valuation. Cluster analysis was used during both phases of model development and showed that one of the clusters developed in the available data phase was superior in its model prediction compared to the models produced using geographically derived regions. A number of limitations with the digital property data available for Victoria were found. Although GIS analysis can enable more property characteristics to be derived and measured from existing data, it is reliant on having access to suitable digital data. The research also identified limitations with the metadata elements in use in Victoria (ANZMETA DTD version 1). It is hypothesised that to further refine the models and achieve greater levels of price estimation, additional properties would need to be sourced and added to the current property database. It is suggested that additional research needs to address issues associated with sub-market identification. If results of additional modelling indicated significantly different levels of price estimation, then these models could be used with manual techniques to evaluate manually derived valuation estimates.

published_or_final_version / Housing Management / Master / Master of Housing Management