Master of Science in Property Studies

The first purpose of the programme is to provide qualifiers with post-graduate-level knowledge, specific skills and applied competence in research, property development and management that provide a foundation for further intellectual development and opportunities for gainful employment and rewarding contributions to society. The second purpose of the programme is to enhance the body of knowledge about property valuation, development and management in South Africa through the pursuance of research-based enquiry and dissemination, via dynamic post-graduate courses. The third purpose of the qualification is to provide the property development and management professions in South Africa with learners who possess contextually specific advanced skills that equip them for management positions.

Recognition of Prior Learning (RPL)

The institution conducts RPL in terms of the policy and guidelines of the institution to recognise other forms of formal, informal and non-formal learning and experience. In cases where learners do not comply with the formal admission requirements, the institution applies its RPL policy.

Entry Requirements

The minimum entry requirement for this qualification is

• Bachelor of City Planning Honours, NQF Level 8.
• Bachelor of Science in Property Studies, NQF Level 8.

1. Identify and solve problems.
2. Work in groups/teams.
3. Organise him/herself and activities.
4. Frame research questions, identify, collect and collate data from primary and secondary sources and apply quantitative analysis methods.
5. Communicate orally and in written reports.
6. Identify and pursue a variety of effective learning strategies.
7. Explore education and career opportunities.
8. Identify and take advantage of entrepreneurial opportunities.

(a) Assessment tests the student's ability to

• Argue the existence of a problem and to select and apply an appropriate means of solving it.
• Develop productive working relationships with other team members.
• Plan and schedule individual and group work and meet deadlines.
• Conduct research including preparing a research proposal, defining the research proposals, defining the research problem, developing hypotheses, performing a literature search and writing a literature review, developing an appropriate empirical research design, developing and administering an appropriate research instrument; developing an argument, applying analytical methods, drawing conclusions and presenting research findings in the form of a treatise.
• Produce written reports and present research findings orally.
• Select an appropriate learning method for assignment work.

(b) Assessment tests the student's ability to

• Apply knowledge of finance and appraisal to problems involving selecting between competing investments; apply statistical knowledge to the characterisation and interpretation of data sets.
• Demonstrate a good working knowledge of analytical methods, as well as a high level of computer literacy.
• Demonstrate an understanding of the foundations of business finance and apply this knowledge in managing and financing working capital.
• Translate a property development and management problem into a well-planned solution that is devised to provide quantitative and qualitative data that can be analysed to provide a solution.
• Demonstrate an understanding of the relevance and the importance of professional ethics, conduct and liability.

(c) Assessment tests the student's ability to

• Demonstrate an understanding of the structure and function of urban land markets, including factors affecting supply and demand; design an economically ideal city; create a plan for establishing a property market; prepare a forecast of retail demand, and evaluate the advantages and disadvantages of densification.
• Demonstrate an understanding of: the South African legal system and South African law in general; the general principles of contract law, sale and lease contracts, forms of security, insolvency, agency and alternative dispute resolution; the Bill of Rights and its influence on land use and related legislation; the impact of environmental legislation on land ownership; and the law relating to sectional title and share block schemes.
• Demonstrate an understanding of the discipline of property valuation; and apply a variety of valuation methods to the valuation of residential, income-producing, and special properties; derive and apply capitalisation rates; and prepare valuations for insurance purposes.
• Apply knowledge of a variety of financing instruments to the property development decision-making process; and prepare comprehensive proposals for the initial and recurrent financing of property developments.
• prepare and present detailed comparative analyses of property developments versus competing investment options; explaining the environmental impact assessment process and ability to interpret and apply the relevant legislation; prepare and present feasibility studies; prepare and present a plan for the implementation of a property development, encompassing the pre-construction, construction, marketing, and operational stages; prepare risk evaluation reports.
• Apply space planning theory in optimising space usage in mixed-use commercial properties; develop a space management plan; plan, monitor and implement relocation programmes; apply the principles of value management and life cycle costing in the planning of commercial space provision; apply the principles of risk management to the decision making processes typically associated with the management of facilities; identify key issues in strategic maintenance and energy planning; compile operational maintenance plans; demonstrate an understanding of how to minimise the detrimental effects on the environment of built assets; identify key strategic and operational issues relating to outsourcing; explain the importance of benchmarking and total quality management of facilities.
• Demonstrate an understanding of the key issues associated with the management of built assets; describe the functions of the property management firm and advise on the essential elements of a management contract; analyse the effects of making changes to tenant selection and mix; apply the principles of risk management to portfolios of built assets; demonstrate an understanding of property insurance; identify key issues related to the effective marketing of property and develop a marketing strategy; show an understanding of the principles of effective shopping centre management.
• Design a research plan and produce a research proposal; use a statistics software package to analyse data; write literature reviews; undertake empirical research; write a well structured and argued dissertation.

Integrated Assessment

Before taking the Property Development module, Learners have studied Urban Land Economics, Property Valuation and Property Finance. The Major Project in the Property Development module is broad in scope. It requires Learners to draw an and apply knowledge gained in all of the other modules as defined in the specific outcomes numbered 1 to 5. Also, learners must demonstrate competence in the general and critical cross-field outcomes defined above. Further integrated assessment occurs in the Research Report course. Learners research a specific topic, chosen from the range of subjects covered in the taught modules, and are required to demonstrate competence in the general and critical cross-field outcomes.