Topic
Materials

PROPERTY TYPE 2 INSTRUCTION:

You have been instructed by the SAIV to determine the Open Market Value of the following Single

Residential Properties:

1. Erf 7734 Goodwood

2. Erf 36685 Khayelitsha

3. Erf 10934 Durbanville

4. Erf 38414 Kraaifontein

5. Erf 521 Clara Anna Fontein

The following supporting information has been given to you to enable you to carry out your instruction:

• CMA Property Reports or Windeed Aktex

• CMA Transfer report or Lightstone Report

• Accommodation Description and photos

You will need to source the following:

• SG Diagram (http://csg.dla.gov.za/esio/searchindex.htm)

• Zoning information (https://citymaps.capetown.gov.za/EGISViewer/)

• Latest sales or property on the market

Your report must include at least 3 registered comparable sales and 3 comparables of properties that

are still on the market. Please detail the information received from the estate agents you spoke to and

also include their name, company, and contact details

An analysis of both registered and unregistered sales must be done, noting the accommodation and

condition of the dwellings of each of the comparable sales identified in order to reach your conclusion.

The valuation process requires you to have a good understanding of the property market and prevailing

market conditions. Therefore, it is important to continuously read property related material and keep

abreast with current market climate as well as property trends. It is recommended that you read current

articles either on SAIV website, other internet sources or newspapers

Focus points for this assignment:

• Location description

• Zoning table (actual and permitted)

• Describing dwelling accommodation

• -Comparable sales analysis (commenting on comparable sales accommodation, extents and

other value attributes)

ASSIGNMENT NOTES:

1. The properties are to be valued on the basis of Single Residential Property

2. A value for the property is to be determined as at 31 November 2021

3. You are not required to physically inspect the properties and may rely on GIS; Google maps

and photos provided to identify and describe the property and what is in the immediate vicinity.

4. Use the valuation template provided to complete the report.

5. All reports must be returned back in excel format.

To progress to the next assignment (Property Type 3), you will have to AT LEAST receive

three approvals on Property Type 2 Assignments

(When mentors comment on your submission, please amend your reports and resubmit in

order to receive an approval)

Measuring Exercise Challenge:

To practise measuring, please refer to the presentation on Town planning. We have, in addition,

uploaded basic measuring exercises which you can practise. Solutions to these exercises will be given

in our next workshop

If you have any questions, do not hesitate to use the WhatsApp group for assistance.