Philippine Real Estate Glossary

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Unearned Increment
Increase in value of real property without any effort of or cost to the owner.

Under Improvement
An improvement which is not suitable to the site on which it is placed due to deficient size or cost.

Urban Land
Land which partakes the nature of both rural land and urban land; usually found of a city, which has a characteristics or atmosphere of a province while enjoying the amenities of an urban land.

Urban Property
City property; closely settled property.

Usury
On a loan, claiming a rate of interest greater than that permitted by law.