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 UNIT STANDARD: 

Demonstrate an understanding of real estate economics in the South African context 
SAQA US ID UNIT STANDARD TITLE
258123  Demonstrate an understanding of real estate economics in the South African context 
ORIGINATOR
SGB Real Estate 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 11 - Services Cleaning, Domestic, Hiring, Property and Rescue Services 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

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.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This unit standard is for learners seeking to acquire or enhance the competences to be a manager of a business. This unit standard enables a learner to apply the necessary macroeconomic principles and theories in various business environments. The learner will acquire knowledge about the world economy and its impact on the South African business environment. It will also enable the learner to describe the role of money in the economy and monetary policy.

The qualifying learner is capable of:
  • Explaining basic economic concepts required for real estate economic analysis.
  • Demonstrating an understanding of real estate markets.
  • Demonstrating an understanding of the economic factors influencing real estate development.
  • Demonstrating an understanding of the economic factors affecting the real estate investment market. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that the learner accessing this standard will be competent in Communications and Mathematical literacy at NQF Level 4. 

    UNIT STANDARD RANGE 
    N/A 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Explain basic economic concepts for real estate economic analysis. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concepts of real estate economics are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Concepts include, but are not limited to, economics, macroeconomics, microeconomics, real estate, the scope of real estate economics.
     

    ASSESSMENT CRITERION 2 
    The principles of the market economy are reviewed and explained with examples relating to real estate. 
    ASSESSMENT CRITERION RANGE 
    Principles include but are not limited to basic concepts (choice, opportunity costs, marginal utility, different economic systems) economic principles in action ( factors of production, rent, wages, interest, profit, income, flow), markets and prices (demand, supply, trade and international trade).
     

    ASSESSMENT CRITERION 3 
    The role of the state in the real estate market economy is reviewed and explained indicating the advantages and disadvantages of state intervention and control. 

    ASSESSMENT CRITERION 4 
    The roles of money and credit in real estate economics are reviewed and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Roles include, but are not limited to, money supply, inflation, central banking, monetary policy, credit, real estate markets.
     

    ASSESSMENT CRITERION 5 
    The economic features of real estate are understood and discussed with examples. 
    ASSESSMENT CRITERION RANGE 
    Features include characteristics of real estate markets, real estate reactions to fluctuations in supply and demand.
     

    SPECIFIC OUTCOME 2 
    Demonstrate an understanding of real estate markets. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Communities and regions are analysed in the context of real estate markets. 
    ASSESSMENT CRITERION RANGE 
    Analysis includes, but is not limited to origins of communities, community growth and growth theories, community and regional studies.
     

    ASSESSMENT CRITERION 2 
    Community growth economic patterns are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Patterns include, but are not limited to, land-use patterns, community land use patterns, topography, infrastructure city growth patterns.
     

    ASSESSMENT CRITERION 3 
    Neighbourhood economic elements are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Elements include, land use clusters, foundation of value, barometer of changes, age and decay.
     

    ASSESSMENT CRITERION 4 
    Housing market economic elements are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Elements include, but are not limited to, housing demand, residential housing supply and state housing programmes.
     

    ASSESSMENT CRITERION 5 
    Commercial and industrial market elements are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Elements include, but are not limited to, business real estate, economic characteristics, commercial property, and industrial property.
     

    ASSESSMENT CRITERION 6 
    Rural and recreational real estate economic elements are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Elements include, but are not limited to, farmland, rural home, and other land resources.
     

    SPECIFIC OUTCOME 3 
    Demonstrate an understanding of the economic factors influencing real estate development. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The economic effects of real property taxation is understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Taxation includes, but is not limited to, taxation principles, evaluating taxation, and tax reform.
     

    ASSESSMENT CRITERION 2 
    The economic effect of land-use controls and land claims are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Land-use controls include, but are limited to, private controls, public controls, police powers, eminent domain, government spending, urban planning principles, and trends in land-use controls.
     

    ASSESSMENT CRITERION 3 
    Real estate development is understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Development includes, but is not limited to, real estate construction, homebuilding, building process development, and construction costs.
     

    ASSESSMENT CRITERION 4 
    The economic effects of state intervention in real estate development is understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Interventions include national, provincial and municipal legislation, reporting requirements and the economic costs and benefits involved.
     

    SPECIFIC OUTCOME 4 
    Demonstrate an understanding of the economic factors affecting the real estate investment market. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The principles of real estate investment are summaries and explained. 
    ASSESSMENT CRITERION RANGE 
    Principles include, but are not limited to, investment factors, investment decisions, cash flow analysis, price and rates of return.
     

    ASSESSMENT CRITERION 2 
    The income tax aspects of real estate investment are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Aspects include, but are not limited to, tax advantages, depreciation, calculating and deferring capital gains.
     

    ASSESSMENT CRITERION 3 
    Economic principles are applied to real estate investment. 
    ASSESSMENT CRITERION RANGE 
    Application includes, but is not limited to, determining investment variables, decision making steps and time value of money.
     

    ASSESSMENT CRITERION 4 
    The factors anticipating changes in real estate markets are understood and explained with examples. 
    ASSESSMENT CRITERION RANGE 
    Factors include, but are not limited to, land-use controls, housing shortages and affordability, consumerism, the real estate industry, national demographic, lifestyle, inflationary expectations and future uncertainty.
     


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • Any individual wishing to be assessed (including through RPL) against this unit standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    The following terms:

    Balance of payments, cause and effect, Ceteris Paribus, choice, command economy, Consumer Price Index, demand, factors of production, goods, Gross Domestic Product, Gross National Product, Fallacy of Composition, Gross Domestic Expenditure, income, inflation, levels and rates of change, mixed economy, opportunity cost, scarcity, services, spending, supply:
  • Monetary policy and the role of money in the economy.
  • Macro-economics.
  • Micro-economics.
  • The world economy and how it impacts on the South African economy. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems using critical and creative thinking processes to identify and interpret real estate economic concepts. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation or community to determine impact of micro and macro-economics on real estate business environments. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively in order to keep abreast of the latest trends and developments in real estate economics in order to proactively manage own business. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information in order to effectively identify economic issues, trends and developments and proactively plan business in line with real estate economic issues, trends and developments. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language in the modes of oral and/or written persuasion to communicate real estate economic concepts to others in business. 

    UNIT STANDARD CCFO SCIENCE 
    Use science and technology effectively and critically, showing responsibility to the environment and health of others to access real estate economic trends, developments and news that may impact on business practices. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by recognising that economic principles do not exist in isolation and that a variety of factors including local and global trends impact on the real estate economy. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Participate as responsible citizens in the life of local, national and global communities by ensuring that economic trends and developments are monitored in order to proactively manage business to optimise service levels. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  59201   National Certificate: Generic Management  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  As per Learning Programmes recorded against this Qual 
    Elective  65649   National Certificate: Official Statistics  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  PSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    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. STATISTICS SOUTH AFRICA 



    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.