Real Estate Glossary D [Part 6]

CONTINUED-FROM

Continued from…

:point_right: Real Estate Glossary D [Part 5]

Deflation

A general decline in the market value of real estate.

Derelict

Property abandonment or renunciation that is done on purpose. A state of decay.

Design

A sketch or drawing of a building plan made by an architect.

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Deterioration

The gradual depletion of a property’s usefulness due to wear and tear or decay and decline caused by natural causes. One of the causes of depreciation and value loss.

Display home

A structure that resembles a house and is used to entice prospective buyers to enter into contracts for the purchase or construction of similar structures.

A display home is typically located near new housing estates or on a major thoroughfare.

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District

A location with a common characteristic use (such as a retail district, residential district, etc).

Duration of Lease

The lease term. The amount of time the property is leased for. The term of a lease.