TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

economic obsolescence [1 record]

Record 1 2004-11-26

English

Subject field(s)
  • Urban Planning
  • Real Estate
  • Trade
OBS

Impairment of desirability or useful life arising from factors external to the property, such as economic forces or environmental changes which affect supply-demand relationships in the market. The term "economic obsolescence" is most widely and traditionally used, but it is something of a misnomer. All elements of accrued depreciation are "economic" in their impact on utility and value. "Locational obsolescence" is preferred terminology because it is descriptive of the condition that leads to a charge for accrued depreciation or diminished utility. This type of obsolescence is generally classified as incurable due to the immobility of property.

French

Domaine(s)
  • Aménagement urbain
  • Immobilier
  • Commerce
OBS

Perte de valeur due à des influences économiques non favorables qui exercent leur action en dehors d'une structure.

Spanish

Campo(s) temático(s)
  • Planificación urbana
  • Bienes raíces
  • Comercio
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