Sampling

A random sample was used in the survey. The sample was be obtained from a population of firms that are practicing Valuation and Estate Management; Insurance and Re-Insurance Companies; Financial Institutions (Banks and Mortgage Companies); Pension Funds; Co-operative Societies, Religious Organizations and other Corporate entities with real estate investment portfolios in various parts of the country.

The sample was selected using a simple sampling technique.

Sampling Frame

A total of 95 investors and real estate professional advisors were sent questionnaires. Out of the 95:

• 49 filled and returned the questionnaires. However three were returned after data analysis was concluded and they were therefore not included in the analysis
• 13 stated they would not respond.
• 2 stated they do not participate in surveys.
• 2 agreed to participate but are yet to return the questionnaire.
• 1 stated they have no real estate investments.
• 27 did not respond and efforts to follow up by phone or through physical visits did not yield any response.

Data Collection

The 47 respondents in the survey were formally interviewed using structured questionnaires. Those who expressed ability to fill the questionnaire without the assistance of an enumerator were granted their wish. The respondents came from various sectors as shown in table 1 below:

Table 1: Number of respondents by Sector:

Sector	Frequency	%
Financial Insitutions	10	21.3
Insurance Companies	10	21.3
Cooperative Societies	5	10.6
Pension Funds	4	8.5
Valuation & Estate Management Firms	9	19.1
Estate Agency & Project Management firms	1	2.1
Finance and Insurance Companies	1	2.1
Project Finance and Managers	1	2.1
Religious Organisations	2	4.3
Fund Managers	2	4.3
Property Owners	2	4.3
Total	47	100

Source: Authors survey 2005

The field data collection took place between 31^st January 2005 and 25^th February 2005. One week prior to the actual survey five enumerators were briefed and trained on the objectives of the survey and taken through the questionnaire. The questionnaire covered the following key areas, which corresponded with the objectives:

• Investment Types/ Preferred Lending Securities/Areas of Specialization
• The provinces in which Real Estate investments are situated.
• Tools used for performance measurement and Analysis.
• Sources and adequacy of information used in performance measurement and analysis.
• Acceptance of and participation in the development of the property Index.
• Expected output and format of Presentation.

Problems and Constraints encountered:

The data collection exercise took more time than was anticipated. In some cases it was frustrating. The major difficulties encountered were:

• The persons to be interviewed were unavailable and some consistently claimed they had not received the notification letter and a copy of the questionnaire.
• Interview dates kept on being rescheduled.
• Some of the respondents could not give some information claiming that they lacked authority to divulge confidential information.
• Bureaucracy in some organizations.
• Limitation of time and other resources available for the survey.

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