Thesis is submitted in partial fulfilment for the degree of Master of Science in Building (Property Development and Management), to the Faculty of Engineering and the Built Environment, School of Architecture and Planning at the University of the Witwatersrand, Johannesburg, 2017 / The purpose of this study is to fill specific gaps in the existing body of knowledge of South African corporate real estate management by investigating the determinants influencing the lease versus buy decision; the methods and financing sources of corporate real estate acquisition; and the criteria used in deciding on the financing technique for corporate real estate acquisition. The research followed a similar methodology to that of Redman and Tanner (1991) in their study “The Financing of Corporate Real Estate: A Survey”. However, it specifically focused on the South African corporate real estate environment. The data collection instrument was an online survey and the survey produced quantitative descriptions of certain aspects of the population. The population for the research was corporate real estate decision makers of leading South African companies. The data captured was presented through the aid of tables, charts and graphs. The data was further analysed through cross tabulations and hypothesis testing using the Chi Squared test of independence to determine significance of results. South African firms use some form of leasing (mainly long term leasing) in acquiring their corporate real estate. However, ownership is also a common form of real estate acquisition through the use of mortgages secured by the acquired property, mortgage backed securities and sale of unsecured bonds. The decision criteria for acquisition includes both financial and non-financial determinants. Financial analysis is also an important factor in analysing the lease versus buy decision. This is mainly done by comparing the undiscounted cash flow of leasing versus buying. Where a discounting approach of evaluation is used, the most favoured discount rates include the weighted average cost of capital and rate of return on new investments. Mostly outscored professional services are used when making the lease versus buy decision. The benefit of this study was to understand the factors influencing the corporate real estate decision making process and to provide a corporate real estate decision makers with a decisional framework when determining the form or real estate tenure. Future studies should attempt to secure better response rate to allow for robustness of results and other methodologies of analysis. / XL2018

This study exammes the impact of macroeconomic and financial variables on the performance of the housing property market in South Africa using monthly data for the period January 1996 to June 2008. Orthogonalised and non-orthogonalised house price returns and real estate returns are utilised as proxies for the housing property market in separate models. Three main issues were empirically analysed in relation to the linkage between selected variables and the housing property market. The first aspect examined the relationship between selected macroeconomic and financial factors and property returns. Secondly, the study examined the influence that a unit shock to each variable has on property returns over a period of time. The third aspect focused on determining the proportion of property returns variation that results from changes in the macroeconomic and financial variables. VAR modelling was thus adopted to empirically analyse these three aspects. The results reveal that house price returns are influenced by most of the macroeconomic and financial variables used in this study. Specifically, the real effective exchange rate, interest rate spread and manufacturing production positively impact on house price returns while the domestic interest rate, the dividend yield and expected inflation have a negative effect. Furthermore, manufacturing production has a lagged effect on house price returns while the real effective exchange rate and domestic interest rate have a contemporaneous effect. Real estate returns are not influenced by most of the variables except for the domestic interest rate and dividend yield which have a negative effect.

Dissertation submitted in fulfillment of the requirement for the Degree of Master of Technology: Quantity Surveying at Technikon Natal, 2002. / This research investigates the key question of whether banks discriminate against black people in the process of granting mortgage bonds which consequently affects homeownership in South Africa in general, and KwaZulu-Natal in particular / M

Thesis is submitted in partial fulfilment for the degree of Master of Science in property development and Management to the Faculty of Engineering and the Built Environment, School of Construction Economics and Management at the University of the Witwatersrand, Johannesburg, 2017 / Purpose- The main objective of this study was to determine a particular knowledge and skill of the senior management of the South African entertainment and media industry towards corporate real estate management. [Abbreviated Abstract. Open document to view full version] / MT 2018

The purpose of this study was to investigate the conveyancing process in South Africa with a view to identify how the process might be improved in terms of its efficiency and effectiveness. Land is an asset and still remains a valuable factor in production, even in the modern knowledge economy. In many parts of the world, land is a limited resource, therefore, in most countries, custodianship and ownership of land and landed properties generally tend to be guarded through the meticulous capturing, recording and storage of appropriate data and information. Legislative provisions for the transfer of custodianship and/or ownership require the involvement of a variety of role players in the conveyancing processes that culminate in the registration of land and associated immovable property. In some countries, the conveyancing processes tend to be complex and cumbersome. The study provides a conceptual framework for conveyancing processes based on a content-based review of land and immovable property registration systems in five countries, namely, Barbados, the Netherlands, Australia, Taiwan and South Africa. The study further investigates the South African conveyancing processes. Quantitative questionnaires were completed by six respondent groups from the conveyancing service chain, and qualitative interviews were conducted with two of the four major banks in South Africa. Descriptive statistics was used to analyse the quantitative data, and content analysis was used to analyse the qualitative data. The findings were used to develop a de-bottlenecking framework for South African conveyancing. / Business Management / M. Com. (Business Management)

The purpose of this study was to investigate the conveyancing process in South Africa with a view to identify how the process might be improved in terms of its efficiency and effectiveness. Land is an asset and still remains a valuable factor in production, even in the modern knowledge economy. In many parts of the world, land is a limited resource, therefore, in most countries, custodianship and ownership of land and landed properties generally tend to be guarded through the meticulous capturing, recording and storage of appropriate data and information. Legislative provisions for the transfer of custodianship and/or ownership require the involvement of a variety of role players in the conveyancing processes that culminate in the registration of land and associated immovable property. In some countries, the conveyancing processes tend to be complex and cumbersome. The study provides a conceptual framework for conveyancing processes based on a content-based review of land and immovable property registration systems in five countries, namely, Barbados, the Netherlands, Australia, Taiwan and South Africa. The study further investigates the South African conveyancing processes. Quantitative questionnaires were completed by six respondent groups from the conveyancing service chain, and qualitative interviews were conducted with two of the four major banks in South Africa. Descriptive statistics was used to analyse the quantitative data, and content analysis was used to analyse the qualitative data. The findings were used to develop a de-bottlenecking framework for South African conveyancing. / Business Management / M. Com. (Business Management)

Problem Statement: The business of property finance has not been properly documented in South Africa. Available resource material focuses on the perspective of the property developer and investor largely neglecting the business of property finance. Thus comprehensive information on this business was not available to students and researchers This study set out to correct this deficiency. Research Procedure: Key property finance personnel in the major banks in the Republic of South Africa were interviewed to establish how the business of property finance is conducted. Jointly the interviewees represent 77% by volume of business over a period of two years A parallel process of literature research was undertaken to compliment the interview research and provide technical depth to the findings. Findings: The empirical and literature research results were combined to comprehensively document the processes, structures, systems, products / Business Management / M. Com. (Business Management)

Problem Statement: The business of property finance has not been properly documented in South Africa. Available resource material focuses on the perspective of the property developer and investor largely neglecting the business of property finance. Thus comprehensive information on this business was not available to students and researchers This study set out to correct this deficiency. Research Procedure: Key property finance personnel in the major banks in the Republic of South Africa were interviewed to establish how the business of property finance is conducted. Jointly the interviewees represent 77% by volume of business over a period of two years A parallel process of literature research was undertaken to compliment the interview research and provide technical depth to the findings. Findings: The empirical and literature research results were combined to comprehensively document the processes, structures, systems, products / Business Management / M. Com. (Business Management)

The purpose of the Restitution of Land Rights Act 22 of 1994 is to provide for the restitution of rights in land to persons or communities dispossessed of such rights after 19 June 1913 as a result of past racially discriminatory laws or practices. The restitution of a right in land can include the restoration of a right in land. The aim of this dissertation is to investigate the requirement of feasibility in restoring land rights and in particular the role of feasibility studies and the courts’ interpretation of the feasibility requirement in restoring such rights. The methodology used includes a review of literature, legislation and policies on land restitution and an analysis of case law. The outcome of the research indicates that while actual restoration ought to take preference in all instances, it may only be granted once all the relevant circumstances and factors have been considered. In certain circumstances it may not be feasible to restore land rights. / Private Law / LL. M. (Property Law)

Text in Afrikaans / In hierdie verhandeling ontleed ek die oproeping van ʼn verband op ʼn onroerende saak in die Suid-Afrikaanse reg. Indien ʼn verbandskuldenaar wanpresteer, kan die verbandskuldeiser sy beperkte saaklike reg afdwing deur die verband op te roep ten einde die uitstaande skuld te delg. Om dit te bereik, word die sekerheidsobjek op ʼn eksekusieverkoping te gelde gemaak, nadat die regte prosedure gevolg is. Die oproepingsproses is in die laaste dekade ingrypend verander, grotendeels as gevolg van artikel 26 van die Grondwet, 1996, en artikels 129 en 130 van die National Credit Act 34 van 2005. Die volgende stadiums in die oproepingsproses word onderskei: die voorverhoorprosedure; jurisdiksiebepaling; die hofprosedure; beslaglegging en die eksekusieverkoping. Wetgewing en regspraak het onlangs ingrypende veranderings ten aansien van die voorverhoorprosedure en die hofprosedure teweeggebring. Alhoewel die oproepingsproses tans bevredigend deur wetgewing en in die regspraak gereël word, is daar nog verontrustende aspekte van eksekusieverkopings wat die wetgewer se aandag verdien. / In this dissertation I analyse the calling up of a mortgage bond over immovable property under South-African law. If a mortgagor defaults, the mortgagee can enforce his limited real right by calling up the mortgage bond to satisfy the outstanding debt. To accomplish this, the secured property will be sold at an execution sale, after the correct procedure has been followed. Over the past decade, foreclosure proceedings have undergone significant changes, largely owing to section 26 of the Constitution, 1996, and sections 129 and 130 of the National Credit Act 34 of 2005. The following stages in the foreclosure process are identified: pre-trial debt enforcement procedure; determination of jurisdiction; court procedure; attachment and execution sale. Both the pre-trial debt enforcement procedure and the court procedure have recently been substantially amended by legislation and case law. Although legislation and case law currently regulate the foreclosure process satisfactorily, some disturbing aspects of execution sales remain and these deserve the legislator’s attention. / Private Law / LL.M.