Browsing by Author "McGaffin, Robert"

Now showing 1 - 5 of 5
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    The applicability of mineral and mining rights concepts in facilitating value capture in South Africa
    (2015) van Heerden, Chrisjan; McGaffin, Robert; Boxall, Terry
    South Africa needs additional funds for public infrastructure investment. Value Capture could potentially be implemented as a mechanism to raise additional funding. Value Capture depends on maximising land value. Ownership constraints to land development prevent land value from being maximised. The study uses doctrinal legal research to investigate how the principles found in South African mineral rights legislation overcome ownership constraints to developing mineral rich land to its highest and best use. The study also investigates how these mineral rights principles could be applied to land in general, in order to overcome ownership constraints to development. Within this context the study demonstrates how land might be expropriated for development purposes, and how such expropriation could create opportunities for Value Capture.
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    Identifying the major constraints to investment in residential rental property in South Africa
    (2016) Frew, Marc Alexander; McGaffin, Robert
    Purpose: This research investigated the constraints to investment in residential rental property in South Africa. This research does not attempt to value or place these constraints in any hierarchical order; rather, it identifies the constraints in the South African context for research in the future. Design: A literature review was conducted, and constraints to residential rental property were identified. A semi-structured interview was then designed, and a field study was launched, interviewing key residential investment property market stakeholders regarding their views on the constraints to investment in residential rental property in South Africa. Quantitative data was used to corroborate the findings of the interviews, and pattern analysis was the technique drawn on to explain the findings. Findings: Participants identified six major constraints to investment in residential rental property in South Africa. These include financial liquidity or funding; property liquidity; management skills; management costs; the lack of investment market information; and legal constraints. Practical Implications: The results of this research will enable further research into the specific constraints mentioned above, in order to assess if there are ways to minimise those constraints going forward.
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    Predicting residential demand: applying random forest to predict housing demand in Cape Town
    (2018) Dyer, Ross; McGaffin, Robert; Nyirenda, Juwa Chiza
    The literature shows that Random Forest is a suitable technique to predict a target variable for a household with completely unseen characteristics. The models produced in this paper show that the characteristics of a household can be used to predict the Type of Dwelling, the Tenure and the Number of Bedrooms to varying degrees of accuracy. While none of the sets of models produced indicate a high degree of predictive accuracy relative to hurdle rates, the paper does demonstrate the value that the Random Forest technique offers in moving closer to an understanding of the complex nature of housing demand. A key finding is that the Census variables available for the models are not discriminatory enough to enable the high degree of accuracy expected from a predictive model.
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    The impact of Basel III on the provision on long-term housing finance in South Africa
    (2018) MacKenzie, Peter Graham; McGaffin, Robert
    South Africa suffers from an acute housing shortage with the lack of access to credit partly to blame. The implementation of Basel III, an international regulatory framework touted to impact the banking sector, has been suggested as a potential catalyst to credit deterioration in South Africa. The purpose of this study is to assess the impact of the Basel III regulatory Accord on the provision of long - term housing finance in South Africa. A combination of interviews with bank personnel, as well as a time – series statistical analysis utilising aggregate bank balance sheet data is employed to gauge how changes in banks’ balance sheet compositions may affect long - term housing finance. South African banks are historically well capitalised. However, the introduction of newly developed parameters in accordance with the Basel III Accord appear to threaten bank profitability. Findings from the study indicate that the provision of long - term housing finance will be compromised in certain ways with some sectors of the housing market more impacted than others.
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    What issues facilitate and constrain the use of value capture mechanisms by the state in Uganda : case study of Kampala-Entebbe Express Highway
    (2016) Mwesigye, Ian Kananura; McGaffin, Robert
    The purpose of the research was to examine the issues that constrain and facilitate the use of value capture mechanisms by the state in Uganda. Considering that limited research had been undertaken on value capture in Uganda, an exploratory case study approach was used to identify and investigate the issues associated with the use of value capture in Uganda. The identified case study was the Kampala-Entebbe Express Highway. The methodology involved collection of data using the survey method and desktop review of relevant documentation. The survey method was conducted using face to face interviews with carefully selected respondents that were knowledgeable in the subject matter of the research. Both qualitative and quantitative data were collected. The qualitative data was analysed using thematic analysis with the assistance of Nvivo, a qualitative data analysis tool while descriptive statistics was used to analyse the quantitative data. The findings of the research showed that value is created from the provision of public transport infrastructure. However, there are issues that may constrain the capture of this created value. These included insufficient valuation of land parcels and registration of land ownership, the existing land tenure system, gaps in the policy and legal framework and insufficient institutional capacity.