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REM821S - REAL ESTATE MARKET ANALYSIS - 2ND OPP - DEC 2025 |
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nAmlBIA unlV ERSITY
OF SCIEnCE Ano TECH no LOGY
FACULTY OF ENGINEERING AND THE BUILT ENVIRONMENT
DEPARTMENT OF LAND AND SPATIAL SCIENCES
QUALIFICATION(S): BACHELOR OF PROPERTY STUDIES
QUALIFICATION(S) CODE: 08BOPS
NQF LEVEL: 8
COURSE CODE: REM821S
COURSE NAME: REAL ESTATE MARKET ANALYSIS
EXAMS SESSION: DECEMBER 2025
PAPER:
THEORY
DURATION: 2 HOURS
MARKS:
100
SECOND OPPORTUNITY/SUPPLEMENTARY EXAMINATION QUESTION PAPER
EXAMINER(S) MR VERINJAERAKO KANGOTUE
MODERATOR: MR SIMSON KASHUPI ANGULA
INSTRUCTIONS
1. Read the entire question paper before answering the Questions.
2. Please write clearly and legibly!
3. Please START EACH QUESTION ON A FRESH PAGE.
4. The question paper contains a total of 13 questions.
5. You must answer ALL QUESTIONS.
6. Make sure your Student Number is on the EXAMINATION BOOK(S).
PERMISSIBLE MATERIALS
1. Non-programmable Scientific Calculator
THIS QUESTION PAPER CONSISTS OF 5 PAGES (including this front page)
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Real Estate Market Analysi s
REM821S
Question 1
Read each question carefully. Among the alternative answers, choose the letter that correspond to the
best/correct answer. Each correct answer carries 2 marks.
1.1 In the Four-Quadrant Model, when tenant demand increases, causing rents to rise in the Space Market
quadrant, what is the expected immediate effect in the Asset Market quadrant?
a) A Property prices decrease because investors expect lower future incomes.
b) Property prices increase due to higher rental income expectations
c) Construction decreases due to oversupply of buildings
d) Stock levels immediately drop
1.2 Assume construction costs rise sharply, limiting the number of new buildings. How w ill this impact rents
and property prices according to the Four-Quadrant Model if demand remains steady?
a) Rents fa ll and property prices fal l due to oversupply
b) Rents increase and property prices increase due to constrained supply
c) No change in rents or property prices due to steady demand
d) Construction increases rapidly to balance the market
1.3 What typically characterizes the "boom" phase in real estate markets?
a) Rapid increase in property prices and high buyer demand
b) Steady or declining property prices and low demand
c) High unemployment and low housing construction
d) Declining mortgage rates and reduced lending
1.4 Which factor commonly triggers the "bust" phase following a real estate boom?
a) Increased government subsidies for homebuyers
b) A sudden rise in interest rates making borrowing more expensive
c) An influx of new homebuyers into the market
d) Relaxed lending standards leading to easier credit access
1.5 During a real estate bust, what happens to housing inventory and prices?
a) Inventory decreases, and prices increase rapidly
b) Inventory increases, and prices decline sharply
c) Inventory remains steady, but prices rise slowly
d) Inventory decreases, and prices remain stable
2nd Opportunity/Supplementary Examination Page 2 of 5
December 2025
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Real Estate Market Analysis
REM821S
1.6 How can speculative buying contribute to a real estate boom and subsequent bust?
a) It stabilizes prices by matching supply with genuine demand
b) It inflates prices beyond fundamental values, leading to a market correction later
c) It decreases demand by discouraging first-time buyers
d) It causes long-term steady growth with minimal price fluctuations
1.7 What policy measure can governments use to help moderate boom-bust cycles in real estate?
a) Remove all restrictions on lending
b) Tighten credit standards and increase transparency in lending
c) Eliminate property taxes to encourage buying
_ _ __ _ _ __d)_ Ereeze all hom.e_prices during_hooms
1.8 How does an increase in housing construction (supply) affect the equilibrium price in a real estate
market, assuming demand remains constant?
a) The equilibrium price increases
b) The equilibrium price decreases
c) The equilibrium price remains the same
d) The market experiences a shortage
1.9 If a popular city's population rapidly grows due to new job opportunities, what is the most likely
immediate effect on the real estate market assuming supply is relatively fixed?
a) Demand decreases, causing prices to fall
b) Demand increases, causing prices to rise
c) Supply increases, causing prices to fall
d) Supply decreases, causing prices to rise
1.10 In a scenario where government policies impose strict zoning restrictions limiting new housing
development, what is the expected impact on the housing market if demand remains steady?
a) Supply decreases, causing prices to increase
b) Supply increases, causing prices to decrease
c) Demand decreases, causing prices to increase
d) Demand increases, causing prices to decrease
[20)
2nd Opportunity/Supplementary Examination Page 3 of 5
December 2025
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Real Estate Market Analysis
REM821S
Question 2
What key factors shou ld be considered when determining the highest and best use of a property in
Windhoek, Namibia?
(5)
[5]
Question 3
Discuss the prospects of each of the main factors that affect the new housing supply in Windhoek and
further assess the most likely movements of total new supply in Windhoek over the next three years.
(10)
- - - - - -- - - - -(10]~ ~ -
Question 4
Discuss the three major dimensions of housing demand and their implications for housing market analysis
in Namibia?
(15)
[15]
Question 5
How can property owners and investors in Windhoek, Namibia, effectively determine the highest and best
use of a property, considering factors such as zoning regulations, market demand, economic conditions,
and physical characteristics?
(5)
[5]
Question 6
What challenges are currently fa ced by buyers, sellers, and investors in Windhoek's rea l estate market? (6)
[6]
Question 7
Explain how urban migration shapes Windhoek's housing demand?
(5)
[5]
2nd Opportunity/Supplementary Examination Page 4 of 5
December 2025
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Real Estate Market Analysis
REM821S
Question 8
How does the supply of residential land and housing in Windhoek affect the real estate market?
(5)
[5)
Question 9
From your perspective what drives demand for properties in Windhoek?
(3)
[3]
Question 10_ _ _ _ __ _
What are the key trends and factors shaping the residential real estate market in Windhoek, Namibia, in
2025?
(10)
[10)
Question 11
A 500 square meter plot of land in W indhoek's Eros suburb is valued at N$350,000. If the typical rental yield
for land in Eros ranges from 6% to 9%, show the annual steps you would take in calculating monthly land
rents if a rental yield of 7% is used?
(10)
[10)
Question 12
What are the key sources of comparable land sale data for Windhoek property valuations, especially land
valuations?
(10)
[10)
Question 13
Explain the impact of macro-economic and micro-economic factors on property markets. In your answer,
discuss specific examples of how these factors influence property prices, demand, and supply across
different types of real estate markets.
(6)
[6]
2nd Opportunity/Supplementary Examination Page 5 of 5
December 2025