SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED QUALIFICATION: 

Advanced Diploma: Property Valuation and Management 
SAQA QUAL ID QUALIFICATION TITLE
90505  Advanced Diploma: Property Valuation and Management 
ORIGINATOR
University of Johannesburg 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY NQF SUB-FRAMEWORK
CHE - Council on Higher Education  HEQSF - Higher Education Qualifications Sub-framework 
QUALIFICATION TYPE FIELD SUBFIELD
Advanced Diploma  Field 11 - Services  Consumer Services 
ABET BAND MINIMUM CREDITS PRE-2009 NQF LEVEL NQF LEVEL QUAL CLASS
Undefined  120  Not Applicable  NQF Level 07  Regular-Provider-ELOAC 
REGISTRATION STATUS SAQA DECISION NUMBER REGISTRATION START DATE REGISTRATION END DATE
Registered-data under construction  EXCO 0324/24  2024-07-01  2027-06-30 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2028-06-30   2031-06-30  

Registered-data under construction

The qualification content is currently being updated for the qualifications with the status “Registered-data under construction” or showing “DETAILS UNDER CONSTRUCTION” to ensure compliance with SAQA’S Policy and Criteria for the registration of qualifications and part-qualifications on the National Qualifications Framework (NQF) (As amended, 2022). These qualifications are re-registered until 30 June 2027 and can legitimately be offered by the institutions to which they are registered.

 

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

PURPOSE AND RATIONALE OF THE QUALIFICATION 
Purpose:
The purpose of this qualification is to prepare students for entry into either a Property Valuation and Management career, or Postgraduate studies, by enabling students to:
  • Apply integrated knowledge and advanced conceptual thinking skills to innovatively solve complex property valuation and management problems;
  • Use a range of valuation methods, processes and techniques competently to create, present and argue fully motivated valuation reports;
  • Demonstrate knowledge of valuation theory and conduct thorough research into valuation problems.

    To achieve this purpose the qualification is structured around two major themes, namely, Property Valuation and Management and Property Finance. Property Valuation contains the relevant valuation theory and is structured to enable students to apply integrated knowledge to innovatively solve complex property valuation problems and to use the whole range of valuation methods, principles and techniques competently to conduct professional property valuations. The Property Finance modules aim ultimately to enable students to develop an understanding of the South African financial environment applicable to property and property valuation and demonstrate an ability to interpret and apply time value of money, business mathematics and discounted cash flows when conducting property valuations.

    Rationale:
    The draft National Plan for Higher Education from 2001 has reiterated that the challenges facing Higher Education in South Africa remain the same as those outlined in the Education White Paper 3 - "A Programme for the Transformation of the Higher Education System (DoE: July 1997)" and these include the need for: " high-level skills training: the training and provision of person power to strengthen this country's enterprises, services and infrastructure. This requires the development of professionals and knowledge workers with globally equivalent skills, but who are socially responsible and conscious of their role in contributing to the national development effort and social transformation. Production, acquisition and application of new knowledge: national growth and competitiveness is dependent on continuous technological improvement and innovation, driven by a well-organised, vibrant research and development system which integrates the research and training capacity of higher education with the needs of industry and of social reconstruction" (White Paper: 1.12).

    The Advanced Diploma: Property Valuation and Management will contribute to realising these national imperatives. The contribution of property valuation to the social, economic and cultural life of a rapidly changing society is indisputable. The importance of property valuation and management as a contributor to the economy is generally acknowledged both locally and internationally.

    The Advanced Diploma: Property Valuation and Management was developed to provide articulation for students with a National Diploma: Real Estate qualifications to enrol for the Bachelor of Commerce Honours: Property Valuation and Management.

    They are typically more mature students who have worked in industry for a number of years and want to obtain a Degree, as it is a requirement for career advancement or for working abroad. In addition, the absence of postgraduate qualifications will seriously diminish the Department's ability to deliver research output in this particular field.

    The Department of Finance and Investment Management had several meetings with members of the Property Valuation industry to discuss, inter alia, the provision of suitable articulation for non-related Bachelor's qualifications to an Honour's in Property Valuation and Management. The Advanced Diploma Property Valuation and Management will serve as entry level professional preparation for candidates with relevant National Diplomas who wish to register as Professional Property Valuers with the South African Council for the Property Valuers Profession (SACPVP), as well as for people interested in improving their knowledge in property. In fact the SACPVP has indicated that it will require a Bachelor of Commerce Honours Degree for registration as a Professional Valuer. The proposed Advanced Diploma will provide articulation for students with a National Diploma to the Bachelor of Commerce Honours: Property Valuation and Management. 
    		•

    LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners should be able to:
  • Demonstrate fluency in English language skills.
  • Demonstrate efficiency in mathematical skills at the required academic level.
  • Take personal responsibility for their studies and progress within the learning environment.
  • Undertake self evaluation.
  • Analyse information.
  • Give a comprehensible presentation.
  • Demonstrate fundamental understanding of property valuation and management.

    Recognition of Prior Learning (RPL):
    The Faculty accepts Recognition of Prior Learning (RPL) as an integral part of education and academic practice. It is acknowledged that all learning has value and the Faculty accepts the challenge of assessing prior learning and awarding credits in a way that is aligned to Faculty programmes to promote lifelong learning.

    The purpose of the University of Johannesburg's RPL policy, which directs the Faculty's RPL procedure, is to recognise prior learning in order to provide for access into qualifications.

    Access to the Qualification:
    The entrance requirement for the Advanced Diploma: Property Valuation and Management is a National Diploma: Real Estate
    Or
    Senior Certificate with Mathematics (not Mathematical Literacy) and a selection process. Learners with Mathematical Literacy will only be considered after completion of the "Articulation Programme in Mathematics".

    Admission requirements include Recognition of Prior Learning. 
    		•

    RECOGNISE PREVIOUS LEARNING? 
    Y 

    QUALIFICATION RULES 
    All the modules are compulsory and have 24 Credits each, totaling 120 Credits.

    Modules:
  • Property Valuation and Management A.
  • Property Valuation and Management B.
  • Applied Time Value of Money.
  • Business Mathematics.
  • Discounted Cash Flow Analysis. 
    		•

    EXIT LEVEL OUTCOMES 
    1. Relate knowledge of basic building construction, building contracts and the construction process to the valuation of property in general and the valuation of a single residential property.
    2. Conduct mass valuations, valuations on income producing properties and valuations of undeveloped property by applying discounted cash flow and feasibility studies' methodologies.
    3. Apply important mathematical and statistical skills to solve problems in a finance environment.
    4. Apply the concept of time value of money in property valuation and management.
    5. Apply the basic concepts of discounted cash flow models.

    Critical Cross-Field Outcomes:
  • Identify and solve problems in property valuation and management using critical and creative thinking processes.
  • Work effectively as a member of a team, group, organisation or community to maximise opportunities in a property valuation and management environment.
  • Organise and manage themselves and their activities responsibly and effectively to achieve their goals within property valuation and management.
  • Collect, analyse, organise and critically evaluate information to effectively conduct property valuation and management assignments.
  • Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written format to discuss outcomes of property valuation and management assignments.
  • Use science and technology effectively, showing responsibility to the environment and health of others to keep abreast of the latest developments relating to property valuation and management.
  • Demonstrate an understanding of the world as a set of interrelated systems by recognising that property valuation and management do not exist in isolation and that a variety of factors can affect the property valuation and management environment.
  • Participate as a responsible citizen in the life of local, national and global communities by ensuring that own property valuation and management competencies are constantly improved in order to provide good service to clients. 
    		•

    ASSOCIATED ASSESSMENT CRITERIA 
    Associated Assessment Criteria for Exit Level Outcome 1:
  • Differentiate between the different building contracts.
  • Describe the role of the valuer in the property industry.
  • Recommend solutions to resolve problems associated with swelling clay.
  • Conduct an inspection to identify problems in an existing buildings.
  • Estimate the building cost of a residential property accurately.
  • Explain the present-day definition of market value as established by the South African Courts.
  • Apply the concept of market value in the valuation of a specific property.

    Associated Assessment Criteria for Exit Level Outcome 2:
  • Accurately discuss the relationship between value without potential, potential and highest and best use.
  • Make market adjustments to reflect market realities.
  • Clearly define, accurately calculate and adequately interpret the results of a capitalisation rate.
  • Determine the replacement cost of a property for insurance purposes.
  • Conduct and compile a fully motivated valuation report on an income producing property.
  • Conduct a valuation of an undeveloped property by using a discounted cash flow.
  • Apply feasibility study concepts to a given property and compile a fully motivated valuation report.

    Associated Assessment Criteria for Exit Level Outcome 3:
  • Use basic mathematical knowledge and skills to demonstrate the order of operations in formulae, including brackets, powers and roots, percentages and proportions.
  • Solve and apply simple and quadratic equations (including graphs).
  • Prepare correct tabulations of data and draw and interpret histograms.
  • Calculate (for both ungrouped and grouped data) the arithmetic mean, median, mode, range, variance, standard deviation and coefficient of variation.
  • Calculate simple probability, demonstrating the addition and multiplication rules of probability.
  • Accurately explain the properties of normal distribution by drawing and interpreting graphs/diagrams of normal distribution and utilising the tables of normal distribution.
  • Accurately calculate the correlation coefficient and the coefficient of determination between two variables (including the interpretation of a scatter diagram).
  • Determine and apply the regression equation between two variables.
  • Given an independent value apply the regression equation to predict a dependent variable.

    Associated Assessment Criteria for Exit Level Outcome 4:
  • Explain the concept of time value of money.
  • Perform and interpret simple and compound interest calculations on single amounts/lump sums, annuities/annuities due/escalating annuities, perpetuities, and mixed/multiple cash flows, using applicable formulae, interest factor tables, a financial calculator and Excel and apply these to appropriate situations.
    > Range: Number of periods (N), Interest rate per year (I/Y), Present value (PV), Payment (PMT) and Future value (FV).
  • Distinguish between discrete and continuous compounding and apply appropriately in the valuation of a property.
  • Explain the difference between effective interest rates and the various nominal interest rates (NACA, NACS, NACQ, NACM, NACD, etc.).
  • Convert between effective interest rates and nominal interest rates for a given property valuation.
  • Perform amortisation and draw up amortisation tables.
  • Apply the principles of Net Present Value (NPV) and Internal Rate of Return (IRR) to cash flow streams.

    Associated Assessment Criteria for Exit Level Outcome 5:
  • Discuss basic financial project appraisal methods with the emphasis on discounted cash flow (DCF).
  • Correctly integrate time value of money into DCF.
  • Eliminate non-cash flow items from information in order to construct a DCF model.
  • Construct a basic DCF model.

    Integrated Assessment:
    The outcomes for each module will be assessed as follows:
  • Formative assessment opportunities consist of two formal written assessment opportunities during the semester, with the possibility of additional assessment opportunities in the form of assignments and class assessments.
  • Summative assessment opportunity consists of a final assessment opportunity in the form of three-hour written examination papers.

    The assessment papers will have a combination of objective test questions, and/or short questions and/or case study questions. 
    		•

    INTERNATIONAL COMPARABILITY 
    The Advanced Diploma in Property Valuation and Management has been found to be comparable with similar qualifications offered internationally.

    United Kingdom:

    Bristol Business School offers the Postgraduate Diploma in Real Estate Management.

    Learning Outcomes:
  • Become fully conversant and competent in contemporary financial appraisal techniques and be able to apply those techniques to provide detailed analysis and strategic advice to real estate users and investors.
  • Understand management techniques that affect real estate and be able to advise clients on the implications of these external factors.
  • Acquire and develop transferable, cognitive, interpersonal and management skills that are required for advanced careers in real estate.
  • Develop a research-based approach to problem-solving in real estate.

    Phillippines:

    University of the Phillippines offers the Diploma in Land Valuation and Management.

    Courses:
  • Concepts and Processes of Land Valuation.
  • Development Controls and Construction.
  • Land Laws and Planning for Development.
  • Statutory Valuation.
  • Advanced Land Valuation.
  • Land Asset Management.
  • Agricultural Valuation.
  • Mass Appraisal.

    This Advanced Diploma: Property Valuation and Management is more geared towards bridging the gap between Diploma and Degree and applies South African legal requirements to matters of property sales and valuation. Nevertheless, it can be positively compared with the qualifications given above and may therefore be said to be internationally comparable. 
    		•

    ARTICULATION OPTIONS 
    This Qualification articulates horizontally with a cognate qualification in Property Valuation and Management at NQF Level 7.

    The Qualification articulates vertically with an Honours Degree in Property Valuation and Management at NQF Level 8.

    Note: Pretoria University, the University of Cape Town and the University of the Witwatersrand offer Master's Degrees: Property Valuation and related disciplines into which students with an Honours Degree: Property Valuation and Management could vertically articulate. 

    MODERATION OPTIONS 
    Moderation processes and procedures ensure that all students are assessed in a consistent, accurate and well-designed manner. Moderation verifies that assessments are fair, reliable, valid, practical, transparent and also evaluates assessor performance. 

    CRITERIA FOR THE REGISTRATION OF ASSESSORS 
    Assessors and moderators must:
  • Hold a qualification at least one level higher than the qualification being assessed or moderated.
  • Have more than two years' teaching experience relevant to the qualification being assessed. Assessors with less than two years' experience have their assessment work moderated by a peer. 
    		•

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this qualification was Reregistered in 2015. 

    NOTES 
    N/A 

    LEARNING PROGRAMMES RECORDED AGAINST THIS QUALIFICATION: 
     
    NONE 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS QUALIFICATION: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. University of Johannesburg 


    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.